As top coins like Bitcoin (BTC), Ethereum (ETH) or Binance Coin (BNB) are all ranging (one day up, one day down), you probably search for high potential altcoins which could make you pump. You may have received OP tokens through the Optimism Airdrop, and if you have not sold them yet, you wonder if you should sell. Even if you have not received tokens through Airdrop (or if you already sold them), you may wonder if it is worth buying them (back).
Let's have a look at the utility of this token at first, and then the tokenomics.
Utility of the OP token
It is initially a governance token, which is being used to vote for proposals concerning the Optimism network. However, there is a proposal to make this utility evolve towards a gas fee token, which could pump it higher. This proposal is supported by Vitalik Buterin, but has not been decided yet. Another utility is to transfer your coins from centralized exchanges to your decentralized wallet on Optimism network. As the DeFi ecosystem is still growing on Optimism, more and more holders may want to transfer their coins (e.g., USDT) to their Optimism wallet. An easy way to make it is to swap USDT for OP and then to withdraw OP to your Optimism wallet. The latest charts show that Optimism TVL is growing fast, which could attract new investors there:
Tokenomics
According to CryptoPotato:
The total supply of OP will be 4,294,967,296 tokens, which are distributed to the following categories.
- 20% will be used for retroactive public goods funding
- 25% will be reserved as ecosystem funds, including governance, partner, seed, and unallocated funds.
- 19% will be airdropped to eligible members.
- 17% and 19% will be given to investors and core contributors.
Investors and core contributors are subject to more extended lockup periods. Most of their tokens will be locked for at least two years, while community-held coins can be sold in the secondary market within the first year.
Out of the 19% to be airdropped, only 5% were airdropped a few days ago. Many holders dump it, since the market is bearish and it is a kind of habit now to dump tokens as soon as you received them. However, it seems to be a bit shortsighted, since the OP tokenomics are favorable in the long term.
In summary
The OP token price cannot be predicted. Therefore, there is no financial advice there. However, as the utility of the token might evolve and the tokenomics seem favorable to long term holding, it could be worthwhile to keep a small bag of OP for the long term. Please DYOR, as usual.
Please find below a few links to earn a few more coins...
