Layer 2 Network Optimism Announces $26 Million Airdrop to 31,870 Wallets
Layer 2 network Optimism announced the third airdrop of OP tokens to 31,870 qualified addresses aimed at bolstering community participation.
In an announcement on X (formerly Twitter), the company stated that the airdrop will see it allocate 19.4 million OP tokens approximately $26 million to over 31,000 wallets that participated in the latest delegation activity of its DAO, Optimism Collective.
Today Optimism is announcing OP Airdrop #3.— Optimism (✨🔴_🔴✨) (@optimismFND) September 18, 2023
19M OP allocated to over 31k unique addresses to reward positive-sum governance participation in the Collective.
Read on for details on eligibility criteria and allocations.
Improving on the former airdrops, the team noted that the third would not have a claims page warning users to avoid any website claiming to be involved in the distribution.
“Airdrop #3 is disbursed directly to eligible wallets. There is no need to claim tokens by interacting with any website. Do not trust any website pretending to help you claim your tokens for Airdrop #3. If an address is eligible, it will have tokens sent directly to it on or shortly after Sep 15, 2023.”
The airdrop kicked off Monday, Sept 18 at 18:10 UTC with the development team stressing community engagement and delegation. It was also revealed that x2 bonuses will be paid to users who delegated to active voters to participate in the governance criteria.
The average rewards hovered around 600 OP tokens approximately $840 with the whole process getting lots of traction around social media spaces.
Optimism is a layer 2 solution designed to scale Ethereum transactions utilizing Optimistic rollups that bundle large data into batches improving speeds without ruining security.
Eligibility for Airdrop3 explained
First of all, the eligibility period for participants ranges from January 20 – July 20 meaning that if a user delegated up to 180 OP tokens, over 100 days within the above timeframe, they become eligible.
The rewards issued in the airdrop would be calculated based on governance tokens delegated and the duration in which they were held, creating a uniquely transparent process.
“1) OP Delegated x Days = Cumulative Sum of OP Delegated per Day (i.e. 20 OP delegated for 100 days: 20 * 100 = 2,000 OP Delegated x Days).
(2) Delegate must have voted on-chain in OP Governance during the snapshot period (01-20-2023 at 0:00 UTC and 07-20-2023 at 0:00 UTC )”
It has been mentioned that some users will receive an x2 bonus based on delegations to active voters but rewards for this category will be capped at 10,000 OP tokens to enable a fair distribution.
It was further disclosed that a pool of 570 million OP tokens will be distributed in the future.