Layer-2 Optimism dedicated 850 million OP Token , valued at $3.3 billion, to fund public products and announced three more funding rounds in 2024.
Optimism dedicates 3.3 billion USD of OP Token to fund builders
According to the latest announcement on the evening of March 26, 2024, the Layer-2 network on Ethereum, Optimism , announced that it would release 850 million OP Token , worth 3.3 billion USD, for the community to donate to projects. or individuals who are considered important contributors to this blockchain's ecosystem.
So, what exactly does this change entail? Retro Funding will now operate through specifically targeted, and categorized rounds.
— Optimism (@ Optimism ) March 26, 2024
Know what impact is rewarded, and when👇 pic.twitter.com/GudIY7uFfb
Accordingly, 850 million OP Token - accounting for 20% of Optimism 's total initial supply - will be distributed through 4 graded rounds starting in May and lasting until the end of 2024.
The first round of on-chain Builders rewards on-chain builders for driving the adoption of Optimism. Subsequent rounds including OP Stack , Governance , Dev Tooling will reward infrastructure, governance, and development tools contributors with the principle of “anyone, anywhere who dedicates their efforts to Optimism” improvements are eligible for funding. The final round ends in mid-November 2024.
The Optimism Collective management organization said that Optimism 's funding is carried out within the framework of Retroactive Public Goods Funding (RPGF) - one of the largest funding programs in the crypto field, rewarding individuals and organizations. The organization has contributed to Optimism in the following aspects: OP Stack, Administration, Ecosystem and User Experience and Adoption.
In the most recent funding round , which took place in January 2024, a portion of the 30 million OP Token were awarded to data aggregators defillama, Covalent , contract cancellation tool Revoke.cash, and hundreds of issuers. other development.
Ethereum co-founder Vitalik Buterin once expressed being "impressed" by Optimism's commitment to funding community-serving products, and "hoped to see more projects conduct Quadratic funding rounds." Funding (QF) and RPGF in the future!” .
Over $100m distributed in @ Optimism RetroPGF round 3.
— vitalik. ETH (@VitalikButerin) January 11, 2024
Really impressed to see their ongoing commitment to funding public goods, helping devs and others contribute to Ethereum even if they lack a business model.
Hope to see more projects doing QF and RPGF rounds in the future! https://t.co/igZCTsnNLt pic.twitter.com/JFGB1MNDDS
1D graph of the OP/ USDT pair on Binance at 00:50 AM on March 27, 2024
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