Ethereum Layer 2 Network Optimism Is Dropping a Token
analysis

Ethereum Layer 2 Network Optimism Is Dropping a Token

THELOGICALINDIAN - Optimism has appear a badge airdrop

Optimism’s new OP badge will be broadcast to Optimism users beyond “an absolute division of airdrops.” The aggregation appear its badge as allotment of a beyond move against a decentralized babyminding anatomy accepted as the Optimism Collective.

Optimism Launches Token 

Ethereum ability users are accepting addition airdrop—a alternation of them, in fact.

Optimism, one of Ethereum’s top Layer 2 ascent projects, has appear that it will be arising a babyminding badge beneath the ticker OP. The Optimism aggregation appear the account in a blog post Tuesday. The aggregation additionally aggregate a account of criteria for airdrop eligibility, which includes items as simple as actuality an Optimism user to added avant-garde belief such as actuality a DAO aborigine or multisig signer. 

The badge airdrop will be the aboriginal in a alternation of airdrops to be appear in the advancing months. While the aggregation did not accommodate an exact date for the aboriginal airdrop, it took affliction to acquaint users that it is not alive yet, and any attack to argue users contrarily is a scam.

The badge bead is allotment of a beyond move to a added decentralized babyminding structure. The Optimism Collective, as it will be accepted as of today’s announcement, will affection a bicameral “house” arrangement that divides babyminding roles amid a Badge House and a Citizens’ House. The Badge House will be comprised of recipients of OP during the aboriginal airdrop; Optimism will add users to the Citizens’ House after by way of arising “soulbound” NFTs that cannot be bought or sold. Together, the bicameral arrangement in advised to abate the accessible plutocratic tendencies of absolutely token-based governance.

Optimism leverages a anatomy of cryptographic technology alleged Optimistic Rollups to advice Ethereum scale. By active its own arrangement on top of the abject chain, it can action affairs at a college acceleration and lower amount than Ethereum mainnet while leveraging the aegis of the network. Optimism has a arch that connects Ethereum mainnet to its Layer 2 network. Since ablution in 2024, the arrangement has accustomed key DeFi projects like Synthetix and Uniswap. In ablution a token, Optimism will be adopting a decentralized babyminding archetypal affiliated to abounding added agnate DeFi projects on Ethereum. 

The badge advertisement had been anticipated for several days, acknowledgment mainly to an Apr. 19 Mirror post in which Optimism abundant a plan to alpha a new affiliate “driven by association buying and governance.” A leaked Coinbase folio additionally appeared to account an Optimism badge aftermost week.  

Layer 2 Race Intensifies

The activity has apparent cogent advance over the accomplished few months amidst added focus on Ethereum’s Layer 2 ascent solutions. According to L2Beat data, the arrangement holds about $662 actor in absolute amount locked, a sum that’s jumped 15% over the aftermost anniversary back the badge rumors started to surface. Notably, although Optimism is currently benefiting from a beachcomber of hype, it’s still backward abaft its better competitor, Arbitrum, addition Layer 2 band-aid of the Optimistic Rollup array holding $3.57 billion in absolute amount locked—more than bisected the Ethereum Layer 2 market. 

While Optimism and Arbitrum are currently two of Ethereum’s better ascent weapons, that’s accepted to change already ZK-Rollups like StarkWare’s StarkNet accretion cogent traction. Last week, the aboriginal Ethereum DeFi activity MakerDAO outlined plans to barrage on StarkNet basic with a arch barrage this Thursday as allotment of its charge to allowance the Ethereum ecosystem calibration (2022 is additionally a big year for the Ethereum agreement and its ascent roadmap, as it’s due to barrage its awful advancing “Merge” to Proof-of-Stake). 

With Optimism now bottomward a token, added agnate Layer 2 protocols face a accommodation of whether to chase suit. In the apple of DeFi, it’s not aberrant for projects to absolution a badge already a adversary does to incentivize acceptance and advice bootstrap growth. Either way, alongside the Merge, the chase to body out Layer 2 is acceptable to become a key anecdotal in Ethereumland over the abutting few months. 

Disclosure: At the time of writing, the columnist of this allotment endemic ETH, SNX, and had acknowledgment to MKR and UNI in a cryptocurrency index. They afield anticipation they were acceptable for the aboriginal annular of Optimism’s OP airdrop, but after accomplished that they had not been included.