
Optimism slid as much as 10% in the week leading up to a scheduled token unlock that will see 24 million OP tokens released onto the market.
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The Optimism Network has revealed that it will sell 116 million OP tokens in a series of planned sales.
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More than 386 million OP tokens are scheduled to be unlocked on May 31, more than doubling the total circulating supply.
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The Ethereum co-founder has often advocated for projects to move away from coin voting in DeFi and DeGov, as it will enable smaller holders a chance to truly participate in governance.
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“Why should Optimism Collective continue rewarding these kinds of mercenary actors who will dump their tokens on first sight? Why should any future airdrops reward these addresses?” an OP governance member argued.
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“Wow, what a day. OP Drop #1 had a turbulent launch which we finally stabilized after more than five hours of non-stop work,” Optimism stated.
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