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Ethereum Layer-2 Network Optimism Initiates Token Airdrop

Steven Zhao

Jun 01, 2022 15:40

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An airdrop is a favorite of crypto investors and fans, and Optimism, an Ethereum scaling solutions provider, is the latest network to do so.


Optimism's OP token went live on June 1st, rewarding early adopters with a claimable airdrop. Although approximately 249,000 eligible wallets received OP tokens, many users did not get their free swag.


In April, Optimism announced its intention to create a decentralized autonomous organization (DAO) and airdrop its OP coin. Since then, hordes of "airdrop hunters" have set up shady wallets in the hopes of receiving the tokens. As a result, Optimism chose a phased airdrop strategy.


However, the initial wave, known as "Airdrop #1," was only accessible to a select few. Early Optimism users, DAO voters, multi-signature signers, Gitcoin contributors, and active users of Ethereum decentralized applications vital to ecosystem development were among them.

Sailing isn't Easy

Demand was high, as predicted, and the team characterized it as a "turbulent launch" that took more than "five hours of nonstop labor" to stabilize.


There was no way to stop the smart contract from accepting claims once it was activated. "Our greatest mistake here was not making this contract pauseable," the team continued. Users created their own sharing links once the claims user interface (UI) was overburdened and shut down. "We grew worried that fraudsters would exploit modified UIs to phish cash from Optimism users and decided to (quietly) re-deploy the main UI," the company said.


Many of those who were qualified were unable to claim their airdrops due to the overburdened UI. Optimism is preparing "Airdrop #2," in which it aims to address some of the issues identified in the previous effort.


Optimism is an Ethereum layer-two scaling solutions provider that use optimistic rollup technology, which modifies the consensus principle by presuming data presented to the chain is accurate and enabling a challenge period. On layer-one Ethereum, this speeds up transactions and decreases their cost (ETH).


The "Optimism Collective," a project of the Optimism DAO, is divided into two parts: public goods, software updates, and protocol incentive structures.


The next significant airdrop will almost certainly come from MetaMask, a famous Ethereum wallet that has already announced that a token is in the works. If there are issues with Optimism's small number of qualified users, MetaMask will have to step up its game in order to airdrop to a possible user base of 30 million.

OP Price Forecast

Optimism is a state of mind that is characterized by optimism. The OP coin was introduced around 5 hours ago, at a price of $1.43. According to CoinGecko, it rapidly rose to $2.10 before falling to $1.74 at the time of writing.


OP has a market valuation of little under $800 million thanks to its circulating quantity of 463 million tokens.


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