Saturday, February 24, 2024
Blockchain

Optimism Announces Third Airdrop Allocations

On September 19, 2023, Optimism, a Ethereum Layer 2 solution, unveiled details of its third airdrop, termed “OP Airdrop #3” on Twitter. The announcement confirmed the allocation of 19 million OP tokens to 31,870 distinct addresses. This move is an effort to incentivize and acknowledge those who have actively participated in the platform’s governance through the delegation of their voting power.

Key Highlights

Airdrop Details: The airdrop, which took place on September 18, 2023, at 18:10 UTC, allocated a total of 19,411,313 OP tokens. The beneficiaries of this airdrop were addresses that had delegated their OP token voting power between January 20th and July 20th, 2023.

Security Precautions: Optimism has emphasized that there isn’t a claims page for this particular airdrop. They’ve cautioned users against interacting with any websites falsely claiming to distribute Airdrop #3. The official OP token contract address has been identified as 0x4200000000000000000000000000000000000042.

Reward Breakdown: The airdrop comprised two main reward types:

Governance Delegation Reward: Addresses that delegated OP above a specified threshold were eligible. A total of 31,529 addresses qualified, with each receiving a reward calculated as 0.67/365 OP per OP Delegated x Day, with a cap of 10,000 OP per address.

Voting Delegate Bonus: This bonus was for addresses that delegated to an entity that participated in at least one on-chain vote during the snapshot period. 25,561 addresses met this criterion, receiving (0.67/365)*2 OP per OP Delegated x Day, also capped at 10,000 OP per address.

Eligibility Criteria: To be eligible for the airdrop, an address’s Cumulative Delegated OP (calculated as OP delegated multiplied by the number of days delegated) needed to exceed 18,000. However, if the delegation was to a “Voting Delegate,” the threshold was reduced to 9,000. Addresses that delegated for less than seven days or were known delegation program wallets were excluded from this airdrop.

Future Airdrops: Optimism has earmarked 19% of the total initial supply of OP tokens for future airdrops, indicating continued efforts to reward and engage its community.

Optimism’s focus on “scaling new coordination mechanisms” underscores the importance of robust governance in realizing the Optimistic Vision. By rewarding those who support governance through delegation, the platform aims to foster a more inclusive and participatory ecosystem.

Image source: Shutterstock

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