Optimism airdrop distributes 19 million OP tokens to more than 31,000 addresses

  • Optimism announced the third airdrop of OP tokens for the addresses that participated in delegation activities of the Optimism Collective DAO. 
  • OP tokens will be airdropped to over 31,000 unique addresses. 
  • The airdrop of 19.4 million OP tokens will be directly transferred to eligible wallets.

Optimism, an Ethereum Layer 2 blockchain powered by OP, has started to distribute its token to eligible wallet addresses in the third round of its airdrop. The Layer 2 chain said late Monday via its official X account that there is no claims page, meaningthat eligible users will receive their share of OP tokens directly to their wallets.

OP price gains 2% on the day, although the token appears to be on a downward trend. 

Also read: XRP price eyes $1.31 target, analysts are long Ripple despite bearish events

Third airdrop for positive sum contributors to DAO

Optimism’s third airdrop is aimed at rewarding positive sum contributors to the Optimism Collective DAO, the blockchain said in a statement on X (formerly Twitter). The Ethereum Layer 2 chain informed market participants that there is no claims page for the airdrop. The project is directly transferring OP tokens to eligible wallet addresses. 

The project has shared the official contract address,  and asked users to refrain from interacting with websites that claim to distribute the airdropped OP tokens. Scams related to airdrops are common.

Eligible addresses are the ones that delegated the voting power of their OP tokens between January 20 and July 20.. On top of the reward for delegating OP, wallet addresses are eligible for a 2x bonus if they delegated the tokens to an active voter, a participant in an on-chain vote in Optimism governance.

Around 19.4 million tokens will be delivered to more than 31,000 addresses, Optimism said. This represents around 19% of OP token’s total initial supply, it said.

OP token yielded 2% gains for holders over the past 24 hours. The Ethereum scaling token rallied 8.8% over the past week, despite the long-term downward trend.

Bitcoin, altcoins, stablecoins FAQs

What is Bitcoin?

Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.

What are altcoins?

Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.

What are stablecoins?

Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.

What is Bitcoin Dominance?

Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.

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