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An overview of Optimism's token model, airdrop details, and digital democracy governance experiment.

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An overview of Optimism

Optimism will airdrop to over 260,000 addresses, with a maximum of over 30,000 tokens and a minimum of 254 tokens per address.

This article is authorized to be reprinted from Foresight News, original source here.

Earlier today, Ethereum Layer 2 scaling solution Optimism released highly anticipated rules for the OP token airdrop and will introduce a new governance system called Optimism Collective, similar to a bicameral system.

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Foresight News will provide detailed insights into the token economic model, airdrop rules, and Optimism's digital democratic governance experiment.

Optimism Token Economic Model

The Optimism token OP is used to govern protocol and network parameter upgrades and create a persistent incentive system for projects and users in the Optimism ecosystem.

The total supply of OP tokens will inflate at a fixed rate of 2% per year, with an initial total supply of 2^32 4,294,967,296 tokens. 64% of the initial token supply will be allocated to the community, with a total airdrop share of 19%. The first airdrop event will distribute 5% of the initial issuance to over 260,000 addresses, and an additional 14% of tokens from the initial issuance will be airdropped in the future.

Regarding token distribution, 25% will be allocated to the ecosystem fund, with governance fund, partner fund, and seed fund each accounting for 5.4%; additionally, 20% will be allocated to retroactive public goods; 17% to investors, and 19% to contributors.

The specific token release plan for the next 4 years is as follows:

Optimism Digital Democratic Governance Experiment

Optimism states that Optimism Collective is a team composed of the community, companies, and citizens, temporarily managed by the Optimism Foundation. It is a large-scale experiment in new digital democratic governance aimed at accelerating and sustaining the development of decentralized ecosystems.

The Optimism Foundation is a key step in transferring power from Optimism PBC to the broader Optimistic ecosystem, led by Optimism's two founders Jing (former CEO) and Ben Jones (former Chief Scientist), along with the addition of Eva Beylin from The Graph Foundation as Executive Director, Abbey Titcomb from Radicle Foundation, and Brian Avello, former General Counsel of Maker Foundation.

Additionally, Optimism PBC has been renamed OP Labs PBC, focusing on building decentralized protocols and supporting ecosystem project growth through product and business development. Liam Horne, former Engineering Lead at PBC, will serve as CEO of OP Labs PBC.

Optimism Collective adheres to the principle that "impact equals profit," incentivizing the creation of a more productive economic model, where positive impact generated by Optimism Collective should be rewarded with individual profit.

Optimism Collective will be jointly managed by Citizens' House and Token House, similar to a bicameral management structure. Initially, Token House will be able to attract tens of thousands of users to participate in this positive-sum game and community-oriented action through the first airdrop. OP token holders will be able to vote on protocol upgrades, projects in the governance fund, and more.

Citizens' House will be launched later this year, facilitating and overseeing the allocation process of retroactive public goods funds (generated by the network). Citizen identities will be soulbound with NFTs.

NFT soulbinding, initially proposed by Vitalik Buterin, cannot be transferred or sold, aiming to drive the formation of a people-centered decentralized collaborative governance system, moving away from centralized organizational or plutocratic mechanisms. Optimism indicates that as the community grows, the citizenry will expand over time.

Overall, Citizens' House and Token House will jointly help utilize the income generated by Optimism L2 to promote public goods and drive the development of Optimism Collective, providing funding for more valuable public goods in the Optimism blockspace, generating more revenue for public goods, creating a virtuous cycle.

Airdrop #1 Airdrop Rules

The first airdrop calculation for Optimism is based on 6 standards, two for Optimism users, early adopters, and active project users, and four for Ethereum users. The snapshot was completed on March 25, 2022, at 8:00.

The specific airdrop standard rules are as follows:

Optimism Users: Including early adopters and new users but will narrow down to addresses that have interacted multiple times with Optimism. Specifically, addresses that migrated from L1 to Optimism in the early stages (before June 23, 2021) or have transacted on Optimism for more than 1 day (at least 24 hours between the first and last transaction) using applications (after June 23, 2021).

Optimism Active Users: Optimism users who have transacted at least once with Optimism applications in four different weeks;

DAO Voters: Those who voted or authored at least one on-chain proposal or at least two off-chain snapshot proposals. On-chain governance contracts include Governor Alpha and Bravo, Aave, Maker, Curve, Aragon, DAOHaus, DAOStack, and Forks.

Multi-signers: Current signers on Multi-Sig addresses and have executed at least 10 transactions.

Gitcoin Donors: Those who made on-chain donations through Gitcoin.

Partial Cross-Chain Bridge Users: Addresses bridged to another chain but continued to transact on Ethereum at least once a month after the bridge and maintained an average of at least 2 transactions per week since then. Addresses must have bridged from Ethereum at least 90 days before the snapshot.

Additionally, Repeated Optimism Users will receive 727.36 + 1,584.42 = 2,311.78 tokens. Furthermore, Optimism will distribute additional bonuses to Optimism users who meet the four and four-plus standards, with over 25,000 rewards for meeting all six standards. This means an address can receive up to over 30,000 tokens as airdrop, with a minimum of 254 tokens.

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