Ethereum scaling startup Optimism announced on Tuesday that it will transition to a new governance structure that will be powered in part by a dedicated token.
The information was revealed in a Twitter announcement thread. The Optimism Collective, made up of two components: a “Token House” and a “Citizens House”, is at the heart of the initiative.
According to the team statement, Citizens’ House will oversee funding for public goods, generating protocol development flywheel, while Token House will focus on token development “Protocol Enhancements, Project Incentives , etc. This promotes development”. The core of Token House is the OP governance token.
Multiple Airdrops by Optimism
The Ethereum scaling startup also claimed the following: “There is not just one airdrop here. There will be a large number of airdrops. According to the thread, which includes a Publish outlining airdrop eligibility as well as a link to stipends, the airdrop “is coming in the second quarter.” The initial release date will be announced soon.
The foundation said a portion of the OP attribution will be distributed in successive waves to members of the business and Ethereum communities.
The first user airdrop will release 5% of the total OP token supply. This airdrop is for those who:
- Behave in a positive-sum manner.
- Actively contribute to their communities.
- Were off Ethereum prices.
However, it was stated that the addresses and quantities were selected to reward blockchain users and encourage top Ethereum users in the OP family.
Future airdrops (#2, 3, …)
Additionally, a portion of the OP token supply will be kept in reserve for future user airdrops, i.e. 14% of the total supply. Since airdrops can be manipulated, the foundation will be responsible for determining airdrop metrics as fairly as possible.
However, airdrops are intended to be distributed to addresses that have a positive impact on the Optimism community.
The news comes just days after social media boffins discovered an optimism-related price page on cryptocurrency exchange Coinbase, fueling rumors about a token. The journey of the Collective will be guided by a newly created foundation at first. Two of the founders of Optimism are part of the management of the group.