Crypto project Optimism, recognized for its layer 2 scaling solution for Ethereum, is about to make a significant move. On January 29, 2024, around $81 million worth of OP tokens will be released, an event that has attracted the attention of investors and industry enthusiasts.
For many crypto projects, withholding a portion of the token supply and gradually releasing them is a strategy to stabilize the market. This tactic prevents massive token sales by initial investors and insiders immediately after distribution, which could cause significant destabilization. However, these unlocking events are often approached with some caution, as the sudden injection of a large amount of tokens into the market can result in price fluctuations.
The imminent release of Optimism involves more than 24 million OP tokens, corresponding to approximately 2.5% of the total in circulation. These tokens will be distributed among investors and key contributors to the project, a recognition of their involvement and support. To date, the project has unlocked around 885 million tokens, representing 20.6% of its total supply.
Additionally, a $30 million token distribution program was announced aimed at rewarding contributors who “build the public goods that power the Optimism Collective,” highlighting the project’s commitment to incentivizing and rewarding those who contribute to its growth and development.
At the time of publication, the price of Optimism (OP) was listed at US$3.03 with a drop of 1% in the last 24 hours.
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