- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
The new OP proposal introduces a Buyback Mechanism, aiming to allocate 50% of the Superchain Sorter's net income to token buyback.
BlockBeats News, January 29th, the Optimism governance layer has passed a proposal to more closely tie the OP token to the Superchain's economic performance. This marks a significant shift in the token's value and utility within one of Ethereum's largest Layer 2 ecosystems.
According to the proposal, during a 12-month pilot period starting in February, the Optimism Foundation will use 50% of the Superchain sequencer's net revenue to regularly buy back OP tokens. The remaining revenue will continue to be used to support the ecosystem fund, fund projects, and operations.
According to data from the Optimism on-chain governance portal, the proposal received 84.4% approval after several days of discussion among representatives and token holders.
This move represents Optimism's first formal attempt to align the demand for OP tokens with Superchain's network-wide activity. Superchain is a constantly expanding chain collection built on the OP Stack, including the OP Mainnet, Base, Unichain, World Chain, Soneium, Ink, and more.
At the time of writing, OP has a market capitalization of $583 million, down 87.6% from its all-time high, with a price of $0.3, down 93.8% from its peak.
You may also like
Make Probability an Asset: A Forward-Looking Perspective on Predictive Market Agents
Consumer application issues
Arthur Hayes: The flames of war in the Middle East rise, Bitcoin is bullish
Legendary investor Naval: In the AI era, traditional software engineers have no value?
More absurd than knowing about the war in advance is knowing in advance about the assassination of Soleimani
Key Market Insights on March 2nd, how much did you miss?
How to systematically track high-performing addresses on Polymarket?
From Stanford Lab to Silicon Valley Streets: How OpenMind is Solving the "Last Mile" Problem of the Machine Economy?
PlanX: Reconstructing On-Chain Execution with AI, Moving Towards a New Paradigm
US Judge Allows Binance Unregistered Token Lawsuit to Advance
Key Takeaways: A federal judge in Manhattan dismissed Binance’s petition to resolve a securities lawsuit through private arbitration,…
Crypto VC Paradigm Plans $1.5 Billion Expansion into AI and Robotics
Key Takeaways: Paradigm is setting up a new $1.5 billion fund to explore AI, robotics, and other emerging…
Ethereum Smart Accounts Set to Launch Within a Year, According to Vitalik Buterin
Key Takeaways: Ethereum’s “account abstraction” or smart accounts might be introduced in the coming year through the Hegota…
Bitcoin Recovers After Iran Conflict Shocks Market, Reverses $5K Fall in Just 24 Hours
Key Takeaways: Bitcoin dropped to approximately $63,000 amid tensions but rebounded to $68,200 within a day. Volatility led…
Former Mt. Gox CEO Suggests Hardfork to Retrieve $5.2 Billion in Bitcoin
Key Takeaways: Mark Karpelès, former CEO of Mt. Gox, proposes a Bitcoin network hard fork to access nearly…
South Korea National Tax Service’s Mistake Resulted in $4.8 Million Crypto Loss
Key Takeaways South Korea’s National Tax Service inadvertently exposed private keys, resulting in a $4.8 million crypto loss.…
Morgan Stanley Seeks National Trust Charter for Cryptocurrency Custody
Key Takeaways: Morgan Stanley has initiated a significant step toward digital asset management by applying for a national…
Solana Price Outlook: Major ETF Inflows Hint at Institutional Moves
Key Takeaways: Solana has experienced substantial ETF inflows, prompting speculation about institutional buy-in. On February 25, Solana recorded…
Bitcoin Price Prediction: Wikipedia Founder Warns BTC Could Plunge Below $10K — Should Investors Worry?
Key Takeaways Wikipedia co-founder Jimmy Wales warns Bitcoin might decline to below $10,000, prompting a bearish outlook. Wales…
App