A layer 2 blockchain built on top of Ethereum.
June 22nd 2022
Optimism (OP)
With Optimism, you can batch transactions on the Optimism network. With optimistic rollup technology, users can enjoy lower gas fees on transactions executed on the Optimism network.
The native token of the project is OP. OP is currently used for the following purposes:
Governance: OP tokenholders are part of a bicameral system that allows them to vote on certain governance matters.
Rewards and Ecosystem Funding: OP tokens were airdropped to users and protocols that supported the Optimism ecosystem, and will be distributed through the OP Governance Fund to future projects.
The following are the major components of the project:
Optimistic rollup: To process blocks created on the L2, Optimism relies on the Ethereum blockchain.
Ethereum Layer 2 scaling solution: Optimism is an EVM equivalent Layer 2 scaling solution built on Ethereum that has its own ecosystem of applications.
As at June 22nd 2022, the total token supply of OP is 4,294,967,296. The current circulating supply is 214,748,364 (5% of the total token supply).
To learn more about the token distribution of Optimism (OP) click here.
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