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  • Andy Katz

Optimism Token Airdrop

At 11am ET on May 31 - Optimism, a Layer2 scaling solution on Ethereum, deployed their contract for the $OP token airdrop #1.

The highly-anticipated token launch ran into some early woes. From @optimismPBC on Twitter,

“OP Drop #1 had a turbulent launch which we finally stabilized after more than five hours of non-stop work”.

The $OP token price tumbled nearly 70% out of the gate as headlines of a “botched airdrop” began circulating the net. One frustrated airdrop recipient, 0xJohn, garnered attention with a rather audacious governance proposal, suggesting that

“Users who sold the initial OP airdrop should become ineligible for all future airdrops”.

Despite the noise, Optimism and its community celebrated the launch of its new token as a major success, hitting “high-water marks” in terms of transaction count (TPS) and Remote Procedure Calls (RPCs). From Optimism’s Twitter thread,

“Our hourly rate peaked at 12 TPS, averaging about 10 TPS—matching Ethereum itself, while consuming less than 5% of its gas. Ethereum is scaling.”

The Layer2 network also celebrated surpassing “ten million transactions since the EVM Equivalence upgrade in November (2021)!”

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