Optimism Goes Live With First Airdrop – Many Exchanges Announce to List OP Tokens

    Optimism officially launched the first OP airdrop this morning. The event has attracted a large number of participants, resulting in system overload.

    As previously reported in April, Optimism, an Ethereum scaling system, is airdropping the new OP governance token — over multiple phases — alongside the launch of a decentralized autonomous organization (DAO) dubbed “The Optimism Collective.” The team initially allocated 5% of the 4.29 billion supply to the first airdrop and promised that there would be “an entire season of airdrops” dipping into a further 14% of the total supply. However, there hasn’t been any info on further airdrop. 

    OP Tokens Allocation (Source: Optimism)

    This highly anticipated event has made an “all-time high demand”. As the number of accesses is too immense, the system is overwhelmed, leading to a lot of transactions failing or being delayed.

    The Optimism team immediately responded to this incident, stating that the lesson they learned in this airdrop will be applied in the next rounds.

    Several exchanges, including Binance, OKX, LBank, MEXC, AAX, and KuCoin have revealed plans to list OP tokens.

    Among those, Bybit is the first exchange to officially list OP. This token is currently trading at $1.7 after peaking at $14.

    Source: TradingView

    Meanwhile, Binance is the next prominent name to join the race. This exchange announced the list of OP/BTC, OP/BUSD, and OP/USDT. 

    As a layer 2 rollup network, Optimism allows Ethereum applications to make faster and cheaper transactions while still ensuring security from the main Ethereum blockchain.

    OP will play a vital role in the Layer 2 ecosystem as its holders will empower to decide the future look of the network. Notably, Optimism is also planning to issue non-transferable “soulbound” tokens to members of the Optimism Collective. The team has dubbed OP recipients as members of the “Token House,” while the soulbound tokens will go to members of the forthcoming “Citizens’ House.” Together, these two factions are expected to form a bicameral system to govern Optimism’s future. 

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