Optimism Shares Updates On Its Fourth Retro Funding, Unveiling Projects Rewarding Their Communities
In Brief
Optimism unveiled highlights from retrofunding phase, during which 10 million OP were rewarded to projects for their impact in Superchain.
Ethereum Layer 2 network Optimism (OP) unveiled highlights from its fourth retro funding phase. During this period, a total of 10 million OP tokens were distributed to over 207 projects based on their on-chain impact within the Superchain ecosystem.
As part of the retro funding initiative, the social network Zora was awarded 500,000 OP tokens. Zora is now redistributing 300,000 of these tokens back to its creator community.
The Sound.xyz platform, which supports music creators, has received 276,764.70 OP tokens and plans to redistribute these funds to artists on the platform. Additionally, 30% of the retro funding was allocated to other developers within the Mode network, as well as to the teams of Bored Town and BLOB, who each received 28,157 tokens. These teams have indicated that they will share their plans for utilizing the additional funds soon.
Among these projects rewarded in this round, Layer3, a distribution and identity protocol, received 500,000 OP tokens. The protocol plans to distribute these tokens to its community in the near future.
Optimism Retro Funding To Support Projects Contributing To Superchain
All of the projects have been deploying contracts on the Superchain across various sectors, including Governance, DeFi, SocialFi, Gaming, Content, Infrastructure, and Utility, among others. The retro funding was allocated based on the performance of these projects according to metrics chosen and weighted by badgeholders. Additional rewards were given to initiatives that met specific Open Source criteria. The projects were evaluated and rewarded based on gas fees generated on the Superchain from October 2023 to June 2024, as well as the number of trusted users who joined the network during that time.
Retro Funding serves as the economic engine driving the Optimism Collective by rewarding impactful contributions and encouraging participation in the Superchain. These contributions boost the demand for blockspace on the Superchain, which in turn generates additional revenue for sequencers, thereby supporting future Retro Funding rewards.
Optimism is an Ethereum Layer 2 scaling network aimed at improving Ethereum’s transaction throughput and lowering transaction costs. It achieves this by using optimistic rollups, which process transactions on OP Mainnet, Optimism’s blockchain while relying on Ethereum for settlement, consensus, and data availability.
Optimism’s Superchain is a network of interconnected blockchains that share various features, including bridging, decentralized governance, upgrades, and a communication layer, all built using the OP Stack.
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 crypto, AI, 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, a dedicated journalist at the MPost, specializes in crypto, AI, 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.
