The Optimism governance token OP was launched yesterday, and it has fallen by more than 70% so far to only $1.15. The community is currently reacting enthusiastically to the low price of the token. Governance forum 0xJohn proposes that those who have sold the initial OP token should be excluded from all future airdrops. A large number of community members agree, but this has aroused the dissatisfaction of KOL Cobie. He believes that the initial currency price is not too important, and the focus should not be on punishing those who sell OP tokens. (Recap: Binance Lists Optimism Trading!A lot of complaints about OP’s stored value not being accounted for, the official explanation was postponed for the second time, and the deposit problem is being solved ) (background supplement:The birth story of Optimistic: 3 people, 5 years, 9 billion US dollars valuation!)
The second-layer network protocol Optimism governance token OP was launched yesterday, and has been listed on Binance, FTX, Bybit and other exchanges one after another. After the listing, the price has also shown a downward trend. After the opening price of $3.88, it has dropped since the deadline. To just $1.15, a drop of more than 70%.
According to Dune data, 61.01% of the tokens have been claimed, and more than 130 million OPs have been claimed. The graph showing the current time and the number of airdrop users and claims seems to have passed the peak period of airdrops and entered the convergence stage.
Community reacts violently to sell-off
With the sharp collapse of the currency price, which caused dissatisfaction among some members of the Optimism community, member 0xJohn proposed a new proposal, saying that in the future, all future airdrops should be excluded from users who have sold the initial OP tokens, because these people The community does not participate in governance and contributes nothing.
After the proposal came out, it attracted a lot of support from the Optimism community members, and most of the comments indicated that it should not be airdropped to addresses that are not loyal to the community. However, some members mentioned that in addition to those who have no loyalty who sold OP tokens without reservation, there are also many members who actively participate in governance, but for practical reasons, they must sell tokens for cash, and whether there will be airdrops in the future simply depends on whether to sell or not. , may not be so accurate; some people say that it may be necessary to design a staking mechanism to verify user loyalty, and it is meaningless to simply idle coins in the wallet.
Cryptocurrency KOL Cobie expressed dissatisfaction with this proposal. He put forward a supplementary proposal in the governance forum to “extend the future empty investment grid”, but the article has been officially folded. Cobie believes that the early price of OP is irrelevant. Every seller has an incentive to sell OP tokens, such as participating in governance but selling them. The price and selling OP tokens should not be the target of the community:
Whether the price is $1.50 or $2, the effect of governance is definitely the same. Of course, a broad price change might make a governance attack on Optimism cheaper, but this was not mentioned in the original proposal.
The post that *legitimately suggests banning sellers* is allowed on the Optimism forum.
But a parody of that post is offensive, abusive and a violation of community guidelines and will be deleted.
Thanks for the memories. pic.twitter.com/Ru0oFnZufw
— Cobie (@cobie) June 1, 2022
OP coin price failed to meet community expectations
And why did the community overreact to the initial price of OP tokens? This may be due to several reasons. In the past, Optimism officially established an OP-USDC token liquidity pool in Uniswap to strengthen the pool depth, but then withdrew 50 million USDC from the pool.
However, according to the proportion of the official investment in the pool, there were only 20 million OP tokens at that time, so it was interpreted that the official default price might be around $2.50, and on the eve of the issuance of OP tokens, KOLs shouted on Twitter. At a high price of more than 3 to 5 US dollars.
What is your $OP Price Prediction ?? 🚀🚀🔥#Optimism #OP #Airdrop
— Abhi abhiag.eth 🦇🔊 (@Abhi00055444) May 31, 2022
🔴✨ #Optimism $OP headed to the moon this week?
🌖 $51 ✅🚀 ☁️☁️☁️☁️☁️☁️☁️
Comment price 👇 Retweet 👇
— ApePrince.eth 👑 (@princecrypto9) May 31, 2022
Optimism “OP token contract” is suspected to be officially tested, and the net speculates that the OP airdrop application may be launched tomorrow
Optimism Airdrop｜17,000 witch addresses have been excluded, and 14 million OPs will be redistributed proportionally
Layer2｜Optimism released the latest Rollup architecture Bedrock, stepping into the equivalence of Ethereum
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