Layer 2 Blockchain network Optimism sells 116 million OP tokens. These altcoins, with a total value of approximately $162.4 million, will be included in a private sale. Optimism shared all the details about this sale in a blog post. The details of the hot development are as follows…
Optimism wind in the altcoin market: 116 million OP is on sale
According to the official announcement, Optimism is currently selling 116 million OP worth approximately $162.4 million in a private sale. The project team will begin transferring funds immediately.
Recently, Optimism announced that it transferred 130 million OP between different wallets for the management of the treasury. It also announced on Monday that it had allocated 19.4 million OPs for 31,870 addresses participating in delegation activities in its DAO called Optimism Collective.
The $162.4 million token sale comes from the “unassigned portion” of the OP token treasury. This portion represents 30% of the initial OP token supply and the original working budget of the foundation. Another prominent detail is that the total market value of Optimism’s token is over $1.1 billion.
Sales start immediately
Optimism organization stated that altcoin transfer transactions will start today. Also, “Several actions will be taken to submit the OP. “These are planned transactions and we are posting an alert to keep the community informed,” he said.
This sale, which is big news especially for those who follow the altcoin world closely, seems to further expand the Optimism ecosystem. OP holders will be able to transfer their tokens to participate in governance during the two-year lock period. This may enable the system to take on an even more democratic management structure.
So, what does this sale mean for Optimism and OP token? First of all, approximately $162.4 million in revenue will be generated. This revenue is likely to be used to further develop the Optimism platform. In addition, this sale, which will enable new investors to join the platform, may expand Optimism’s user base.
As a result, the Optimism private token sale is seen as an important step for both the company and the OP token. This development seems to have a big impact in the cryptocurrency world. The two-year lock period for altcoin holders may indicate the stability and reliability of the system. In light of all these developments, Optimism and OP will continue to make a name for themselves in the altcoin world.
How did Optimism (OP) price react?
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