{"id":606318,"date":"2023-02-09T22:49:54","date_gmt":"2023-02-10T04:49:54","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/09\/op-token-falls-after-surprise-optimism-airdrop\/"},"modified":"2023-02-09T22:49:54","modified_gmt":"2023-02-10T04:49:54","slug":"op-token-falls-after-surprise-optimism-airdrop","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/09\/op-token-falls-after-surprise-optimism-airdrop\/","title":{"rendered":"OP Token Falls After Surprise Optimism Airdrop"},"content":{"rendered":"
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Optimism Network conducted a surprise token airdrop Thursday, sending 11.7 million governance tokens to more than 300,000 wallets, according to a blog post<\/a> by layer 2 blockchain\u2019s caretaker group, Optimism Collective<\/p>\n<\/div>\n

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Optimism\u2019s airdrop is part of the blockchain\u2019s initiative to distribute 19% of its initial governance token supply as the blockchain forges a path toward wider adoption. Optimism distributed 5% of its initial governance token supply, or more than 200 million tokens, in its first airdrop last May.<\/p>\n<\/div>\n

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The airdrop comes as Optimism looks for an edge over its largest competitor, Arbitrum, another Ethereum layer 2 albeit one without a token. Abritrum currently boasts more than double the amount of transacting wallets as Optimism, widening the gap between the two exchange\u2019s transacting wallets over the past month.<\/p>\n<\/div>\n

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Users who spent gas executing transactions on the blockchain qualified for the airdrop. As did those who delegated the voting powers, which is imparted by the governance tokens, to other users. The Optimism Network recognizes the sharing of voting powers as a \u201cpositive sum activity\u201d to bolster the blockchain\u2019s governance system.<\/p>\n<\/div>\n

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The token fell 13% on the news Optimism\u2019s circulating supply had grown. Even so, OP has rallied nearly 200% over the past few weeks. But, following today\u2019s airdrop announcement, the token\u2019s price dropped 13%. At the time of publication, the token trades at roughly $2.35.<\/p>\n<\/div>\n

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Thursday\u2019s unannounced airdrop went off relatively smoothly, unlike Optimism\u2019s first attempt in July <\/a>2022, when users had to manually claim their allotments. In this case, the distribution was automatic.<\/p>\n<\/div>\n<\/div>\n

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Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.Elizabeth Napolitano is a news reporter at CoinDesk. Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.Optimism Network conducted a surprise token airdrop Thursday, sending 11.7 million governance tokens to more than 300,000<\/p>\n","protected":false},"author":1,"featured_media":606319,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2843,22591],"tags":[],"class_list":{"0":"post-606318","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-falls","8":"category-token"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/606318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=606318"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/606318\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/606319"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=606318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=606318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=606318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}