Optimism Distributes $3 Billion in OP Tokens to Boost its Blockchain Ecosystem Development
Optimism, the Ethereum layer 2 network, is set to allocate a hefty $3 billion worth of OP tokens to its builders, marking a significant move to enhance its ecosystem. The upcoming token distribution, announced recently, aims to bolster the platform's infrastructure and development.
The distribution of 850 million OP tokens represents a substantial portion of Optimism's initial total supply. These tokens, constituting 20% of the supply, will be dispersed across four funding rounds scheduled throughout 2024. The initiative seeks to encourage the adoption of Optimism among developers and projects.
Optimism Details Structured Approach to Funding Rounds, Focusing on Ecosystem Builders and Infrastructure Improvements
Optimism outlines a structured approach to its funding rounds. The initial round targets on-chain builders, incentivizing their engagement with the platform. Subsequent rounds will focus on OP Stack, Governance, and Dev Tooling, rewarding contributions to infrastructure, governance, and development tools. The final round is expected to conclude in mid-November this year.
Optimism's funding initiative aims to empower individuals and organizations dedicated to improving the protocol's infrastructure. It extends support to both individual developers and projects instrumental in driving Optimism forward.
Optimism's Retroactive Public Goods Funding (RPGF) Strategy Garners Praise for Crypto Community's Significant Effort
This funding strategy is part of the Retroactive Public Goods Funding (RPGF) program, a significant endeavor within the crypto space. It aims to recognize and reward meaningful contributions across various domains crucial to Optimism's growth.
Optimism's commitment to community-driven product funding has garnered praise, including from Ethereum co-founder Vitalik Buterin. He applauds their approach and anticipates wider adoption of Quadratic Funding (QF) and RPGF in the future.