What is Optimism (OP)
Optimism is one of the leading Layer 2 scaling solutions for Ethereum: a network built “on top” of Ethereum to make it faster and cheaper while keeping its security. It hosts tens of thousands of users and a total value locked (TVL) of hundreds of millions of dollars, with well-known applications such as Uniswap, Curve and Velodrome.
OP is the network’s native token, used mainly for protocol governance.
How it works: optimistic rollups
Optimism uses optimistic rollup technology: transactions are executed off-chain and then batched and recorded on Ethereum. This drastically reduces costs and times, while inheriting Ethereum’s security.
The 2023 “Bedrock” upgrade improved performance and introduced the Superchain concept: a set of interconnected Layer 2 blockchains sharing common governance and interoperability rules, based on the open-source OP Stack infrastructure. The same technology is used, for example, by Coinbase’s Base.
What the OP token is for
OP is a governance token: it is used to vote on proposals about the protocol’s future, within the Optimism Collective. A significant share of the tokens has been distributed to the community through several airdrop rounds, rewarding those who interacted with the ecosystem’s applications.
Optimism is also known for its “Retroactive Public Goods Funding” model, used to fund projects deemed useful to the ecosystem. Holding OP does not in itself guarantee any return.
Origins and what to consider
Optimism was founded in 2019 by former Ethereum Foundation members, with the aim of making Ethereum scalable without compromising its decentralisation. It has become one of the reference infrastructures of the Layer 2 sector.
Like all crypto-assets, OP has shown a highly volatile price trend. Past performance is not a guarantee of future results.
Optimism Market Data
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