OptimismOP

About(OP)

FAQ About OP

• What Is Optimism (OP)?

  Optimism (OP) operates as a layer-two blockchain solution built on top of Ethereum, providing scalability to the Ethereum ecosystem through the use of optimistic rollups. By leveraging the security of the Ethereum mainnet, Optimism ensures that transactions are securely recorded on its platform while ultimately being anchored on Ethereum.
  
  As a prominent scaling solution for Ethereum, Optimism boasts a Total Value Locked (TVL) of over $500 million and is home to numerous protocols, including industry giants such as Synthetix (SNX), Uniswap (UNI), and Velodrome (VELO).
  
  In a highly anticipated move, Optimism conducted an airdrop of its native OP token on May 31, 2022, further solidifying its position as a key player in the cryptocurrency space.

• How to Buy Optimism (OP)?

  You can buy OP coin with USDT here on Toobit. Read our guide on How to Buy Crypto on Toobit for more information.

• How to Sell Optimism (OP)?

  You can sell OP to USDT here on Toobit. Read our guide on How to Trade Spot on Toobit for more information.

• What is OP Price Now?

  Are you looking for OP price? Live OP coin price is updated in real-time on Toobit.

• How does the performance of Optimism price compare against its peers?

  With a price decline of -13.30% in the last 7 days, Optimism (OP) is currently experiencing a downturn in the volatile cryptocurrency market. This underperformance can be attributed to various factors such as market sentiment, competition from other projects, and overall market conditions. It is important for investors to closely monitor the market trends and news surrounding Optimism in order to make informed decisions about their investments.

• Who Are the Founders of Optimism?

  Optimism is a leading project in the blockchain industry, spearheaded by the Optimism Foundation, a non-profit organization committed to advancing the Optimism ecosystem. Drawing inspiration from Ethereum, Optimism strives to establish itself as a fully decentralized public utility that operates for the betterment of society, rather than for profit. The project is sustained solely through donations and grants, with a clear mission to develop infrastructure that supports the expansion and longevity of public goods within the blockchain space.

• What Makes Optimism Unique?

  Optimism is an innovative layer-two solution for Ethereum that prioritizes simplicity, pragmatism, sustainability, and optimism. By leveraging proven Ethereum code and infrastructure, Optimism minimizes complexity and ensures compatibility with existing systems.
  
  The ecosystem is driven by real-world needs and practical considerations, leading to an iterative development process that focuses on long-term sustainability. Optimism's use of optimistic rollups and the Ethereum consensus mechanism allows for efficient scaling without compromising on security.
  
  Transactions on Optimism are processed quickly, with immediate acceptance or rejection, providing users with a seamless experience. Withdrawals to Ethereum have a seven-day challenge period to ensure transaction validity and finality, maintaining the integrity of the network.

• How Many Optimism (OP) Coins Are There in Circulation?

  Optimism's ecosystem is designed to create value for its stakeholders in various ways:
  Token holders benefit from the revenue generated through sequencer activities.
  Contributors and builders receive funding for their work on public goods projects.
  Users and community members are rewarded with airdrops and project incentives.
  The distribution of Optimism's token allocation is as follows:
  Ecosystem fund (25%): allocated to governance, partners, seed projects, and unallocated funds.
  Retroactive Public Goods Funding (20%)
  User airdrops (19%)
  Core contributors (19%)
  Investors (17%)
  The initial token supply is set at 4,294,967,296 OP tokens with an annual inflation rate of 2%. The Foundation will receive 30% of the initial token supply in Year 1, with future distributions determined by a vote from token holders. The Foundation's annual OP distribution budget is expected to decrease over time, starting at 15% in Year 2 and gradually decreasing to 4% by Year 4.

• How Is the Optimism Network Secured?

  Optimism is a layer-two scaling solution that leverages optimistic rollups. Optimistic Rollups (ORs) enable secure and efficient recording of transactions on a secondary blockchain layer, with periodic merkle roots of the transactions being sent to the primary blockchain. These merkle roots are verified by external validators, adding an additional layer of security. Withdrawals from layer-twos operating on optimistic rollups are subject to a delay, usually around one week, to ensure the validity of transactions.