Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Optimism (OP) conducts private sale of 19.5 million OP tokens
ADOPTION NEWS

Optimism (OP) conducts private sale of 19.5 million OP tokens

By Crypto FlexsMarch 8, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Optimism (OP) conducts private sale of 19.5 million OP tokens
Share
Facebook Twitter LinkedIn Pinterest Email

Optimism Foundation announced a private sale of 19.5 million OP tokens, initiating a two-year lock-in period for governance participation amid a positive market trajectory.

Optimism Collective recently made a strategic move by conducting a private token sale containing approximately 19.5 million OP tokens. This significant transaction comes at a time when the Optimism Network, a layer 2 blockchain built on top of Ethereum, is gaining attention for its role in expanding the Ethereum ecosystem.

The private sale, announced on the Optimism governance forum on March 7, 2024, will place sold tokens under a two-year lock-up period. However, the contract allows purchasers to delegate tokens to unaffiliated third parties for governance purposes, ensuring that tokens remain active in the protocol’s decision-making process even during lockup.

These tokens originate from the unallocated portion of the OP Token Treasury, which is part of the Foundation’s initial working budget equal to 30% of the initial supply of OP Tokens. The Optimism Foundation has always maintained transparency as a core value, so a public trace of the OP token supply is maintained and accessible to the community.

The announcement also gave the community a heads up on several planned transactions that will take place over the next few days to fuel the token sale. Due to the private nature of the sale, specific terms and the identity of the buyer were not disclosed, but the Optimism Foundation assured the community that these activities are part of the planned operation.

Current market conditions appear to be favorable for Optimism, with OP token prices showing resilience and growth. According to data from CoinMarketCap, as of the last update, the value of OP tokens is $4.62 USD, with a 24-hour trading volume of $419,349,624 USD. The token recently hit record highs, reaching an all-time high of $4.85 two days ago on March 6, 2024, and has since maintained a strong position in the market, ranking 28th by market capitalization.

This private sale is evidence of growing interest in Optimism’s technology and its potential to improve the scalability of the Ethereum network. Optimism leverages optimistic rollups to achieve scalability while enjoying the security benefits of Ethereum. This approach allows for lower transaction fees and faster processing times, which are critical to the widespread adoption of blockchain technology.

The timing of this sale coincides with a recovery in the broader cryptocurrency market, with renewed investor interest in blockchain projects with strong fundamentals and real-world applications. Optimism focuses on simplicity, pragmatism, and sustainability, and as its name suggests, Optimism plays an important role in the continued development of the Ethereum ecosystem.

Image source: Shutterstock

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Bybit Card Launches In Europe With Unmatched 20% Cashback

September 3, 2025

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Embodying “Simple Mining, Smart Gains” For Effortless Crypto Accumulation

September 3, 2025

TOKEN2049 Singapore stops all records with the world’s largest Web3 event with 25,000 attendees in unprecedented demand.

September 3, 2025

Simultaneously Mine Dogecoin (DOGE), Ripple (XRP), And SOL

September 3, 2025

Simultaneously Mine Dogecoin (DOGE), Ripple (XRP), And SOL

September 3, 2025

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bybit Card Launches In Europe With Unmatched 20% Cashback

September 3, 2025

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Embodying “Simple Mining, Smart Gains” For Effortless Crypto Accumulation

September 3, 2025
Most Popular

IOTA Community Allocates Funds to Strengthen EVM Ecosystem

August 1, 2024

SEC Rejects Cboe’s 19b-4 Filing for Solana ETF Source

August 20, 2024

What is a network state? -Bitfinex blog

February 25, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.