Optimism Network Rolls Out $26M Worth OP Tokens As Airdrops

The Ethereum Layer 2 scaling solution Optimism has unveiled the third phase of its OP token airdrop to its active governance users. Dubbed “Airdrop 3”, the latest round will see the distribution of 19.4 million OP tokens to 31,000 dynamic wallet addresses as a reward for user participation.

Rewarding Active Users With Airdrops

The network had previously conducted two rounds of airdrops before the recent developments. On June 1, 2022, the project’s inaugural event, Airdrop 1, was carried out, serving as the foundation of the network’s airdrop initiatives.

Since then, about 200 million Optimism tokens have been distributed to a select group of 250,000 early network adopters and active users during this phase, igniting excitement and engagement within the community. Optimism organized its second distribution, Airdrop 2, following the success of Airdrop 1.

Over 11 million OP tokens were transferred to 307,965 active addresses in the second round. Moreover, this strategy strengthened the collaborative spirit at the core of Optimism’s vision for a decentralized future by rewarding users and active contributors to the network’s governance ecosystem.

In addition, the airdrops serve as milestone occasions in the project’s developmental stages because they represent Optimism’s dedication to inclusivity and community empowerment. Acknowledging the protocol’s growth, the Optimism team took a digital overview of user addresses on January 20, 2023.

On February 9, 2023, eligible addresses received airdrop tokens as a gift from the network. However, from the initial allocation for Airdrop 1, only 166 million airdrops made it to the rightful owners’ addresses.

The forgotten addresses, who missed their share, were finally given their Airdrop 1 OP tokens on September 15. As a result, all the OP tokens from Airdrop 1 made it to the addresses of deserving users.

Airdrop 3’s 19 Million OP Tokens

Furthermore, the protocol has kickstarted the third phase of the airdrop to recognize and reward the committed users and active participants in the governance ecosystem who might have missed out on earlier airdrops. Additionally, this latest phase, which began on September 18 at 18:10 UTC, is designed to include a broader range of participants.

Addresses that proved their dedication by contributing the voting power of their OP tokens between January 20 and July 20, 2023, are eligible for Airdrop 3.

It should be noted that previous Optimism airdrop initiatives included six eligibility criteria. Two of these conditions were designed explicitly for OP Mainnet users, emphasizing the importance of early adoption and sustained activity on the platform.

The other four benchmarks were created with the L1 Ethereum in mind, highlighting the importance of positive-sum governance engagement and active contributions to the broader ecosystem. Furthermore, each category is treated as a distinct entity, as outlined in the information provided in the OP governance DOCS.

This means an address can meet the requirements and be eligible for multiple airdrops. Hence, it can qualify for token allocation once it satisfies the necessary criteria.

The Optimism network is one of the top Ethereum Layer 2 scaling solutions, with the ecosystem having the second-highest TVL. According to the latest Dunes insights, Optimism commands a TVL of $829.56 million, suggesting users’ steadfast confidence and trust in the protocol.