21 Apr 2022 · 1 min read

Traders Speculate that Optimism Token Could Launch After Coinbase Glitch

Source: iStock/xijian

 

A blog post and what appears to be a glitch from the crypto exchange Coinbase, fueled speculations that Optimism, a second layer scaling solution for Ethereum (ETH), could be about to launch its own native token. 

The speculations about whether the popular Ethereum scaling solution is launching its own token started when the team behind Optimism published a blog post that hinted in that direction.

“We’re nearing the end of a chapter and the beginning of the next––one driven by community ownership and governance,” the blog post said, suggesting a governance token for the protocol could be coming.

“And it’s fast approaching. More on this soon,” the post added without elaborating any further.

Governance tokens are typically issued by blockchain protocols to offer their users an opportunity to participate in the governance of the protocol.

Moreover, speculations intensified after Coinbase earlier this week published a page – which could only be found through direct searches for it – with information about an Optimism token on its website.

The page was published despite no such token existing at the time.

A screenshot of the page, which is no longer live on Coinbase.com/price/optimism, was shared on Twitter by crypto trader Cobie (Jordan Fish) on Wednesday:

Rumors that a governance token for Optimism would be launched have already circulated in the community for some time, with the popular Twitter user kamikaz ΞTH, on Tuesday this week offering trading advice to his followers for an upcoming Optimism airdrop.

When the airdrop happens, “wait for the initial dump, then go in hard if you believe in Ethereum,” wrote the user, who describes himself as a “freeballing DeFi analyst.”

Screenshots were also shared by the Twitter user Tree of Alpha:

A token launch has not been confirmed by Optimism, and no statement has been put out by Coinbase to explain why the page was published.

Cryptonews.com has reached out to Coinbase for a comment.
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