The Ethereum scaling startup Optimism announced on Tuesday that it will transition to a new governance structure that will be fueled in part by a dedicated token.
The information was revealed in a Twitter announcement thread. The Optimism Collective, which is made up of two parts: a “Token House” and a “Citizens House,” is at the centre of the initiative.
According to the team’s release, the Citizens’ House will oversee public goods funding, generating a flywheel of protocol development, while the Token House will focus on token development “Upgrades to protocol, project incentives, and more It promotes development.” The Token House’s core is the OP governance token.
Multiple airdrops by Optimism
The Ethereum scaling startup also claimed the following: “There isn’t just one airdrop here. There will be a large number of airdrops.” According to the thread, which includes a post outlining eligibility for the airdrop as well as a link to allocations, the airdrop is “coming in Q2.” The initial airdrop date will be announced soon.
The foundation stated that a portion of the OP allotment will be distributed in successive waves to members of the business and Ethereum communities.
The first user airdrop will release 5% of the total supply of OP tokens. This airdrop is intended for those who:
- Behave in positive-sum ways.
- Contribute actively to their communities.
- Have been priced out of Ethereum.
However, it has been stated that the addresses and quantities were selected to both reward blockchain users and encourage core Ethereum users to the OP family.
Future airdrops (#2, 3, …)
Furthermore, a portion of the OP token supply will be retained in reserve for future user airdrops, amounting to 14% of the total supply. Because airdrops can be manipulated, the foundation will be in charge of determining airdrop metrics as fairly as feasible.
However, the airdrops are intended to be distributed to addresses that have a positive impact on the Optimism community.
The news comes only days after social media boffins discovered an Optimism-related price page on cryptocurrency exchange Coinbase, stoking rumors about a token. The Collective’s course will be guided by a freshly founded foundation at first. Two of the founders of Optimism are among the group’s leadership.