News Report Technology
February 21, 2024

Optimism Distributes 10M OP Tokens in Fourth Airdrop to Reward NFT Creators

In Brief

Optimism intends to distribute 10,343,757.81 OP to creators who issued NFTs on the Ethereum mainnet, Optimism’s Superchain, Base, and Zora.

Optimism Distributes 10M OP Tokens in Fourth Airdrop to Reward NFT Creators

Layer 2 network Optimism (OP) announced its fourth airdrop, intending to distribute 10,343,757.81 OP tokens, valued at $40.8 million, to 22,998 addresses. This distribution is designed to reward Web3 artists who have contributed to creating NFTs on the Ethereum mainnet, Optimism’s Superchain, Base, and Zora platforms, all completed before January 10.

Users are required to claim their tokens by February 13, 2025. The ultimate reward limit is 6,000 OP, equivalent to approximately $23,640 per address.

The airdrop distributed rewards to NFT creators based on the amount of gas expended by other users during the minting or trading of their NFTs. The level of popularity of the NFT project determines the extent of rewards available to the NFT creator. Specifically, for every 1 ETH worth of gas associated with a user’s NFTs on Optimism’s Superchain, the individual received 5,000 OP. Similarly, accumulating 1 ETH of gas on the Ethereum mainnet resulted in a reward of 50 OP.

Token allocations for users have the potential to be increased by 50% or multiplied by 1.5 through bonus eligibility criteria. This includes creating an NFT contract before January 10, 2023, having an NFT transferred that the user created after November 11, 2023, maintaining activity on the Superchain since November 11, 2023, or if collectors have spent more than 0.0005 ETH to transfer one of their NFTs since July 14, 2023. The extent of the increase is contingent on the number of qualifying bonus activities.

Optimism conducted its first airdrop in 2022, succeeded by a second and third at the beginning and end of 2023. During the third airdrop, approximately 19.4 million OP tokens were distributed, valued at $26 million and were allocated to nearly 32,000 addresses associated with engagement in delegation activities within the platform’s DAO–Optimism Collective.

Optimism has committed to providing 19% of the total initial token supply to community distribution via airdrops, with approximately 560 million OP tokens available for forthcoming airdrop initiatives.

Moreover, Optimism announced plans to activate Delta network on February 22nd and launch Span Batches, a development by Test in Prod, on the main network. This implementation aims to decrease the fixed chain overhead for blockchain operators running any standard OP Chain by over 90%, facilitating the launch of more OP tokens in the upcoming month. These reductions, coupled with the 4,844 fee reductions coming in a few weeks, are set to further optimize network efficiency and cost-effectiveness.

Test in Prod became part of the core development team at Optimism Collective last year and is collaborating on building OP Stack alongside OP Labs and Base. Optimism plans to allocate 5 million OP tokens to Test in Prod over the next four years.

Optimism Continues Growth Trajectory with OP Token Rise

Founded in 2019, Optimism is a Layer 2 blockchain that processes its transactions in batches using optimistic rollups. Developed by OP Labs and powered by its proprietary software, OP Stack, Optimism aims to enhance transaction efficiency on the Ethereum network.

The OP token is trading at $3.79 as of the writing time, showing a 1.45% increase over the last seven-day period, according to data from CoinMarketCap. The circulating supply of OP is noted to be 957.4 million, with a total supply of 4.3 billion.

With the recent announcement, Optimism remains committed to rewarding its community and contributing to its ongoing development and the overall efficiency of the Optimism ecosystem.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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