Optimism Earmarks $3.3 Billion in OP Tokens for Public Goods Funding

Optimism Allocates $3.3 Billion in OP Tokens to Fund Public Goods

What's the Scoop?

Optimism, an Ethereum Layer-2 network, just announced it will distribute 850 million OP tokens, worth $3.3 billion, to support public goods and ecosystem contributors.

How's it Work?

The 850 million OP tokens, representing 20% of Optimism's initial supply, will be allocated through four categorized rounds starting in May and running through 2024.

Who Gets the Bucks?

• On-chain Builders: Rewards ecosystem builders for driving Optimism adoption.
• OP Stack, Governance, Dev Tooling: Grants to contributors for infrastructure, governance, and development tools, following the principle that "anyone, anywhere who makes Optimism better" can qualify.
• Wrap-up Round: Concludes in mid-November 2024.

Retroactive Rewards

The Optimism Collective, Optimism's governance organization, explained that the funding is part of the Retroactive Public Goods Funding (RPGF) program, one of crypto's largest funding programs, which rewards individuals and organizations for contributing to Optimism across four verticals: OP Stack, Governance, Ecosystem and User Experience, and Adoption.

Vitalik's Thumbs Up

Ethereum co-founder Vitalik Buterin has praised Optimism's commitment to funding public goods, saying he "hopes to see more projects doing QF and RPGF rounds in the future!"

OP's Price Action

The announcement had a positive impact on OP's price on Binance, with the token trading higher by a modest amount at the time of writing.

Other Optimism News

• Optimism sold 19.5 million OP tokens to private investors in a recent private sale.
• The project announced its fourth airdrop, worth approximately $41 million.

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