Optimism (OP) token to hit market today, centralized exchanges say

Quick Take

  • Optimism’s native token is all set to be available for trading today under the symbol OP.
  •  Several exchanges have said they will list the token for spot trading.

Optimism’s upcoming governance token OP will likely hit be launched today and be available for trading on centralized exchanges, according to multiple announcements by third parties.

Several exchanges, including OKX, LBank, MEXC, and AAX, have released blog posts announcing plans to list the Optimism token at different times later today. Optimism has not yet made an official statement.

As a rollup-based Layer 2 network, Optimism lets Ethereum applications achieve faster and cheaper transactions while retaining security from the main Ethereum blockchain.

Last month, Optimism unveiled a new governance structure powered by its own token. The initial supply will be handed out through a retroactive airdrop to users including early Optimism adopters as well as active participants on Ethereum, such as signers of multi-signature wallets, DAO voters, and Gitcoin donors. A snapshot of their addresses was taken on 25 March.

According to its initial announcement, 248,000 addresses were allotted 214 million OP tokens (5% of the total 4.29 billion supply), with average eligible address pocketing 860 tokens. Yet 17,000 of these addresses were later removed, dropping the expected total to 231,000 addresses.

Optimism raised $150 million in a March round led by Paradigm, with the project valued at $1.65 billion.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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