This morning, Optimism officially announced the organization of the first OP airdrop. Optimism said that because the number of users requesting the airdrop was too high, the project encountered some problems that resulted in system overload.
Optimism also cautions users that OP tokens are only supported on the project’s layer-2 network and cannot yet be migrated to the Ethereum mainnet, so care should be taken to avoid errors and scams.
The experience gained during this airdrop will be used by Optimism to overcome in future airdrops.
Several exchanges, including Binance, OKX, LBank, MEXC and AAX, KuCoin have announced plans to list OP tokens at different times of the day.
Bybit was the first exchange to list OP and the price is currently trading at $1.7 after peaking at $14.
Meanwhile, Binance announced that it will list OP at 03:00 UTC on June 1 and include OP/BTC, OP/BUSD and OP/USDT trading pairs.
As a roll-up-based Layer 2 network, Optimism allows Ethereum applications to achieve faster and cheaper transactions while maintaining the same level of security from the main Ethereum blockchain.
Last month, Optimism unveiled a new governance structure backed by its own token. The initial supply will be distributed through a retroactive airdrop to users including early Optimism adopters as well as active Ethereum participants, such as multi-signature wallet signers, voters. DAO and Gitcoin sponsors. The snapshot of the address was taken on March 25.
According to the initial announcement, 248,000 addresses have been allocated 214 million OPs (5% of the total 4.29 billion supply), with an average eligible address pocketing 860 tokens. However, 17,000 of these addresses were later deleted, reducing the total number of addresses that qualified to 231,000.
Optimism raised $150 million in a March round led by Paradigm, with the project valued at $1.65 billion. The Layer 2 network also announced an ecosystem development fund worth 231 million OP tokens to fund projects that build solutions on the platform, allocating the first batch of 36.6 million OPs to the “partner” DeFi project team on Ethereum for 3 weeks from the time of the airdrop.