Optimism (OP), an Ethereum layer-2 scaling network, has allocated $3.3 billion worth of its native token, OP, for its community. Funds will be awarded to projects or individuals that make significant contributions to the blockchain ecosystem.
The announcement was made on March 26 by Optimism Collective, the chain's management and community arm. The collective announced that some of the 850 million OP will be distributed in four categorized rounds starting in May and continuing throughout 2024.
According to the official statement, the initiative known as Optimism's Retroactive Public Goods Financing (Retro Funding) is based on cooperation and collective success.
Vitalik Buterin had a very positive reaction to Optimism's previous $100 million community funding announcement:
“I'm really impressed to see their continued commitment to funding public assets, helping developers and others contribute to Ethereum even if it doesn't have a business model.”
Optimism (OP) price showed a slightly positive reaction to this development. At the time of this writing, OP is trading at $3.88, with a 1.39% rise in the last 24 hours.
*This is not investment advice.