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Optimism, the Ethereum scaling startup, mentioned Tuesday that it’s going to shift to a brand new governance construction powered partly by a devoted token.
The small print have been included in an announcement thread shared on Twitter. On the coronary heart of the trouble is what has been dubbed the Optimism Collective, which is itself comprised of two components: a “Token Home” and a “Residents Home.”
“The Residents’ Home will govern public items funding, making a flywheel of protocol growth,” per the workforce’s announcement, with the Token Home targeted on “protocol upgrades, challenge incentives, and extra. It drives development.” The centerpiece of the Token Home is a governance token, OP.
Optimism additionally said that “[t]right here’s not only one airdrop. There will likely be *many* airdrops.” The airdrop is “coming in Q2” per the thread, which included a post about eligibility for the airdrop in addition to a hyperlink to allocations. An official date for the preliminary airdrop is forthcoming.
The event comes days after social media sleuths noticed an Optimism-tied value web page on crypto change Coinbase, fueling hypothesis a few token. Days later, the workforce mentioned in a weblog put up that “[w]e’re nearing the top of a chapter and the start of the following — one pushed by group possession and governance. And it’s quick approaching.”
On the outset, a newly established basis will information the course of the Collective. The management of that group contains two Optimism founders, amongst others.
“The newly created Optimism Basis will function a steward of the Collective, working experiments, bootstrapping the ecosystem, and finally dissolving. It should finally defer all governance rights on-chain. It is a large step for constructing an ecosystem of contributors,” the announcement mentioned.
Optimism raised a $150 million funding spherical final month at a $1.65 billion valuation. Paradigm and a16z co-led the spherical.
