Layer 2 network Optimism announced its fourth airdrop focused on rewarding web3 artists.
According to the official announcement, this airdrop distributed 10,343,757.81 OP, worth approximately $40.8 million, to 22,998 addresses. Users can claim their tokens until February 13, 2025.
“A great society needs artists,” Optimism wrote on the airdrop claims page. “This airdrop is a token of our appreciation for artists and their ability to bring creativity on-chain. Your contributions play an important role in the Optimism Collective.”
Fourth airdrop
From January 10, 2023 to January 10, 2024, users who created NFT art on the Ethereum mainnet or on Optimism’s superchain, an interconnected series of layer 2 networks, were eligible to receive an airdrop.
Airdrops rewarded NFT creators based on the amount of gas other users consumed while minting or trading NFTs. The more popular the NFT project, the more rewards the NFT creator can receive. Users’ NFTs that generated 1 ETH worth of gas on Optimism’s Superchain earned 5,000 OP individually, and those that generated 1 ETH worth of gas on the Ethereum mainnet earned 50 OP. The final reward is up to 6,000 OP (approximately $23,640) per address.
Token allocation for users can be increased by 50% or increased by 1.5x through bonus eligibility. This includes creating an NFT contract before January 10, 2023, transferring the created NFT after November 11, 2023, and activating it on Superchain thereafter. November 11, 2023, or if the collector spends 0.0005 ETH or more to transfer one of the NFTs after July 14, 2023. The amount of increase depends on the number of qualifying bonus activities.
Optimism’s first airdrop took place on May 31, 2022, the second on February 8, 2023, and the third on September 13, 2023. The third airdrop delivered 19.4 million OP worth $26 million to approximately 32,000 addresses at the time. Previously, The Block reported on the delegation activities of Optimism Collective, the platform’s DAO.
Optimism has approximately 560 million OP remaining for future airdrops. famous “This mechanism can be improved through multiple deletions to promote positive summation behavior,” Optimism said on social media platform X.
ON Token
According to The Block’s token price page, OP tokens are trading at $3.94 as of 1:47 PM ET on February 20, after rising 0.71% over the past 24 hours. The circulation volume of OP is 957.4 million units, and the total supply is 4.3 billion units.
OP’s price action. Image: Block Price
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