Optimism Launches DAO

Optimism Launches DAO

Optimism Launches DAO

The popular Ethereum layer 2 rollup Optimism announced on Tuesday that it will be forming a decentralized autonomous organization, or DAO dubbed the Optimism Collective. The Collective will merge the funds and knowledge accumulated by Optimism into a single entity that aims to improve Ethereum ecosystem development.

The decision of the dev team has always been to provide an open platform that is available for all Ethereum projects, allowing them to interact in a decentralized way without being encumbered by third-party involvement. Our goal with the Optimism DAO is to continue this line of thinking while providing increased funding and clarity on how the funds are spent. This will allow Optimism to better support burgeoning Ethereum projects as well as the initiatives already launched such as Pawng, Spire, Lunyr, and more.

With this announcement comes some big changes to the existing Optimism services. Since the launch back in 2017, we’ve seen the Ethereum ecosystem evolve in ways we couldn’t have imagined at the time.

First and foremost is that Optimism DAO will now be the main Point of Contact (POC) for all projects seeking to build on/with Ethereum. This means that all inquires related to development, marketing, community building, and more would go through Optimism rather than direct project-to-project communication. This will streamline the process for everyone involved as well as foster better communication within the Ethereum ecosystem overall.

Along with the news of the DAO launch, Optimism also announced the long-awaited Optimism (OP) token and airdrop. This news excited the Optimism community on Crypto Twitter.

Airdrops, or the process of sending tokens to wallets that meet certain criteria, have been used before as a way to get a project’s token into the hands of users who will actually use it. The OP token will give holders voting rights on how Optimism’s available funds are spent.

In order to receive the OP tokens, users must first sign up for an account on the Optimism website. Then, they must hold at least 0.1 ETH in their wallet when the snapshot is taken on May 15th, 2021. The airdrop itself will happen sometime in June, and users will be able to claim their tokens then. 264,079 addresses will be eligible to claim OP in the first airdrop, which will be announced on Twitter by @optimismPBC. Users can already check their eligibility status on the Optimism website.

So far, the response to the DAO launch and airdrop has been overwhelmingly positive. The community seems excited to have a say in how Optimism’s funds are spent, and the team is confident that they will be able to use the DAO to make significant progress on their roadmap. The

The Optimism team believes that this airdrop is only the first step towards a community-run platform.nThe next step for Optimism is to continue building out its platform and expanding its user base. With the launch of the DAO, they are one step closer to achieving their goal of becoming the go-to platform for DeFi.

The Optimism DAO and token will allow the community to be more involved in project approval and governance, as well as provide a way for users to receive rewards for their contributions.

It’s clear that Optimism has big plans for its future, and we can’t wait to see what comes next!

Martin K
Martin K author check sign Pro Investor

I am a bitcoin and crypto currency writer. I also work as a professional trader, and I have experience with stock trading and bitcoin trading. In my work, I aim to provide clear and concise information that helps people understand these complex topics.