Optimism To Sell $160 Million In OP Assets To 7 Buyers In A Private Transaction

0
80
Optimism

Ethereum scaling solution with layer-2 plans on selling 116M tokens of OP to nearly seven private customers for the management of the treasury which has been made public by Optimism. The sale would result in the exchange of OP assets valued at $159 million at the current pricing. Although some observers worried that Optimism might “dump” its assets on the market, it is doubtful that the selling of the assets would have any significant effects on the value of OP given that it is a private transaction.

Additionally, the assets are not included in the circulating supply because they are coming from the vacant component of the token treasury of OP. There is a restriction of two years on the tokens. term, which prohibits buyers from reselling them on secondary markets, as stated on the website. 

Optimism Has Declared The Possibility Of Multiple Transactions Totalling $116M 

However, for governance considerations, buyers have been permitted to assign the assets to unrelated third parties. This sale, as per Optimism, was a part of their initial strategy and was fully budgeted for in their “initial operating capital of thirty percent of the first token issuance.” After Optimism declared its 3rd airdrop, 19.4M tokens of OP were sent to above 31K addresses that participated in delegation tasks for the network’s DAO, Optimism Collective, just two days before the announcement of the sale.

The most popular layer-2 scaling options on the market are Optimism, Polygon, and Arbitrum. Their overall dealings surpassed those of Arbitrum around August, although they were behind Arbitrum in terms of total value locked. This was partly due to an increase in their activities from the project Worldcoin, which conducted verification of identities and Coinbase’s sandbox.