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logoOptimism (OP)

A Layer 2 scaling solution for Ethereum
  • Optimism’s main utility is to batch transactions on the Optimism network. Optimism allows users to enjoy lower gas fees on their transactions executed on the Optimism network through optimistic rollup technology.
  • OP is the native token of the project. The current use cases for OP include:
    • Governance: OP tokenholders are part of a bicameral system where OP tokenholders form a body to vote on certain governance matters.
    • Rewards and Ecosystem Funding: OP tokens are airdropped to users and protocols which supported the Optimism ecosystem, and will be distributed through the OP Governance Fund to future projects building on Optimism.
  • The project consists of the following major components working in conjunction:
    • Optimistic rollup: Optimism relies on the security of the Ethereum blockchain to process blocks that are created on the L2.
    • Ethereum Layer 2 scaling solution: Optimism is a Layer 2 scaling solution built on Ethereum which is EVM equivalent and has its own ecosystem of applications
  • As at June 1st 2022, the total token supply of OP is 4,294,967,296. The current circulating supply is 1,318,490,188 (30% of the total token supply).
  • Learn more about the token distribution of OP here.