• Optimism airdropped millions of OP tokens to active ecosystem users.
• OP went down significantly following the news of the second airdrop.
• Industry observers have pointed out that OP has one of the worst unlock schedules in 2023.
Optimism Airdrops Millions of Tokens
Optimism airdropped millions of OP tokens to active ecosystem users on February 10, 2023. The team warned that there’s no need to claim the tokens – they’ve been sent straight to eligible users‘ wallets.
OP Price Reaction
Following the announcement of the second airdrop, Optimism’s governance token OP dumped significantly, going down by almost 9% from its 24-hour high of $2.54 to $2.32 according to data from CoinGecko. Despite this sharp decline in price, OP remains one of the best performing tokens since the start of 2021 with an impressive 250% increase so far.
Future Airdrops
The second airdrop was significantly smaller than the first one which distributed more than 200 million tokens last year in June. The team behind Optimism also said that it will be doing more airdrops in the future in order to facilitate positive-sum behavior within their ecosystem.
Worst Unlock Schedule in 2023
Industry observers have noted that OP has one of the worst unlock schedules for 2023 with only around 214 million out of 4.29 billion currently being circulated and $5.1 million worth being emitted daily until mid-2023 when all remaining tokens will be unlocked and put into circulation.
Conclusion
Overall, Optimism’s second airdrop was welcomed by its users as it provided them with additional tokens however it caused negative reaction on its token’s price due to its future unlock schedule which is considered one of the worst among DeFi projects this year..