Ethereum’s Optimism Airdropped Governance Token, Here Is How It Went

A highly anticipated launch took place as the OP’s governance token was dropped by Ethereum’s layer 2 scaling solution optimism.

Why so optimistic?

On a mission to fund public goods and create a sustainable future for Ethereum, the optimism group firmly believes that “a positive impact on the group should be rewarded with profits for the individual,” and thus this latest airdrop is another step in the process of creating a “new model to reward those who create or support those who create or support appropriate public interest.”

Collective Optimism will dispel the myth that public goods cannot be profitable. The collective will continually provide retroactive incentives for public goods that benefit optimism, Ethereum, and the community as a whole. These public goods act as a driver for the growth of the collective economy.”

Their quest to “rebuild the Internet in line with the values ​​of its users” has excited many users, even Vitalik Buterin himself who was previously describe it This effort as “perhaps the largest attempt at non-token holder-centric DAO governance to date.”

the team explained Since they opened the platform, the network has seen “more than 50 applications deployed on Optimism, resulting in more than 60,000 ETH and more than $900 million in total value being tied up on the chain.”

Ethereum and Optimism users are excited about the potential of this project to further improve the user experience and reduce transaction fee costs. What’s more, they are also excited about the rewards and governance possibilities that result from supporting and collaborating with this experience.

as a collective vision explainOptimism “is governed by the cooperation between the Optimism Foundation and members of the Optimism group.” Similarly, the group created its basic management structure divided into two equal rooms in order to enable a collaborative ecosystem:

  • The Token House and Citizens’ House: To be launched later in the year, it aims to “facilitate and manage the retroactive distribution of public goods financing, generated from revenue collected by the network”.
  • The Token House: Created today by OP token airdrop, the goal is to create “a continuous system of incentives for projects and users in the Token Ecosystem.”

Related reading | TA: Ethereum Drops From $2K, Why Could 100 SMA Spark New Increase

Ethereum season from Airdrops has begun

What the group described as a “full season of airdrops” with more than 250,000 eligible titles, began today with OP’s first airdrop setting aside 5% of OP’s initial supply.

“Token holders will be able to vote on protocol upgrades, project incentives as part of the Governance Fund, and more.”

It was OP’s first bumpy airdrop. The team admitted that it underestimated the expected event load on the public RPC endpoint, chirp.

Since the group has been eager to constantly alert users about potential scams by impersonators and to follow only official announcements, it was strange at first that claims for the OP’s code had started without the team making said announcement – a Twitter account dedicated to sharing airdrops. announce Previously – but this was explained later along with other bugs.

The source of the problem appears to be that the team failed to pause their MerkleDistributor contract. This means that “the claims were open-ended, and we had no way of preventing them.”

They explained, “We then deployed our claims UI in preparation for our official announcement,” and while minimizing the amount of traffic that would hit them, “website visitors found the claims link” prior to the official announcement, thus “public RPC starting to criticize.”

“We haven’t officially announced yet, but we are already seeing an all-time high in demand,” the team had alerted earlier in the day, surprised by the huge load that has occurred.

The team continued a series of efforts that removed the Claims UI for a while “in an effort to reduce RPC load in the short term,” however, “Without access to the Claims UI, users began creating and sharing links to tailored Claim UIs.” specially.”

It took them several hours to “stabilize the overall RPC”.

“While the sequencer remained constant throughout, this was the point at which the read access was able to handle the expected load.”

Throughout the process, users encountered various issues such as not being able to claim the OP at the same time as other early users or seeing their status as ‘unqualified’, even though they had previously verified the opposite.

Subsequently, it appeared that Binance was also having trouble dealing with the OP’s noise as users reported that the exchange did not reflect deposits even after a successful transfer.

However, the team appears to have worked responsibly on the problems it faces today and expects to apply the lessons learned to the next airdrop.

Meanwhile, many stockholders expect the price of OP to rise as it is listed by big exchanges like Binance and FTX. Currently, the token is circulating all over the $1.69 According to CoinGecko, after reaching a peak of $2.10.

Related reading | TA: Ethereum Drops From $2K, Why Could 100 SMA Spark New Increase

ETH traded at $1,948 on the daily chart |

Leave a Comment

Your email address will not be published. Required fields are marked *