The native token of layer-2 rollup network Optimism, OP, is set to enter the cryptocurrency market today in multiple centralized exchanges.
Exchanges including OKX, MEXC, LBank, and AAX have announced plans to list the token at different times, with the protocol yet to make the official statement.
The initial token supply will be distributed through a retroactive airdrop to the users consisting of early Optimism adopters and active participants on Ethereum like DAO voters, multi-sig wallets, signers, and Gitcoin donors.
Optimism allows Ethereum applications to reach faster and cheaper transactions while retaining security from the main Ethereum blockchain. The protocol recently released a new governance structure powered by its token.
248,000 addresses were allocated 214 million OP tokens, which makes up a cumulative 4.29 billion supply or 5%. The prequalified addresses received an average of 860 tokens.
Optimism raised $150 million in a March round led by Paradigm, taking it to a valuation of $1.65 billion.
Source: THE BLOCK
