What is Optimism? Why should you worry about its airdrop? How can you claim tokens from the airdrop by Optimism? The following discussion would help you gain some insights about the airdrop of the Optimism network governance token, i.e., OP. You can discover a brief overview of Optimism and its significance alongside valuable information about the airdrop.
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What is Optimism?
The foremost priority before you start learning about Optimism would refer to an overview of its definition. It is a layer 2 blockchain network developed over a layer 1 blockchain, such as Ethereum, without working independently. Layer 2 technologies have become one of the prolific and crucial areas of interest in the domain of cryptocurrencies and blockchain. The attention to the Optimism Layer 2 protocol is valid on the grounds of assurance for scalability and efficiency improvements. Network congestion can generally lead to higher transaction fees as well as longer confirmation times, thereby creating problems for developers.
Layer 2 technology focuses on resolving these issues through the reduction of fees and waiting times. Optimism is one of the earliest examples of Layer 2 protocols, based on the concept of optimistic rollups. As the name indicates, a roll-up could transfer a huge chunk of data and processing tasks from the mainnet or base chain, such as Ethereum.
As it facilitates the transfer of the transaction processing load to another chain, the main chain would be free from congestion. The Layer 2 blockchain network processes transactions and maintains a condensed form of its state on the Ethereum chain. As a result, Layer 2 technologies can ensure effortless security of transaction data without network congestion or unreasonably high transaction fees.
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Importance of Optimism
The working of Optimism reflects on how it ensures efficient use of resources for achieving computation tasks. While the Layer 2 solution maintains a condensed version of transaction data on the Layer 1 blockchain, they have the rest of the data and computation required for running transactions. Optimistic rollups like Optimism follow a distinct principle suggesting the inherent validity of all batches of transactions.
Optimistic rollups work by assuming that all transactions are valid unless they are challenged within a specific period of time. Participants could offer proof of the mistake resulting in the reversal of transactions. The OP token airdrop managed to garner a lot of hype for various reasons, especially for the introduction of a governance token. On top of it, Optimism has selected a bicameral approach for defining its governance system wherein the OP token has reduced power.
As one of the popular Layer 2 solutions, Optimism is likely to grow further with the radical rise in demand for DeFi and other dApps. The curiosity regarding Optimism token airdrop practically relies on the value benefits delivered in the project. Optimism offers support for various platforms, such as decentralized exchanges, DeFi applications, and token bridges. With a massive user base alongside a formidable network infrastructure, Optimism has the necessary ingredients for validating its dominance in the crypto landscape.
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How Can You Get an Optimism Token?
You can obtain Optimism tokens on popular crypto trading platforms such as exchanges. Popular examples of exchanges to buy OP tokens include Binance and Coinbase. All you need is an account and a verified identity before you start trading. Furthermore, you can also avail of the OP token through decentralized exchanges running on Optimism networks, such as 1inch and Uniswap. On the other hand, you can also claim an OP airdrop with an Optimism token address by fulfilling the necessary criteria. You must learn about the airdrop allocation in detail before you claim one for yourself.
The first airdrop by Optimism in June 2022 ensured that almost 249,000 registered Optimism users received the newly launched OP token through an airdrop. A detailed understanding of airdrop eligibility criteria could help you capitalize on the airdrop for an opportunity to access OP tokens.
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The OP Token Airdrop
Following the first airdrop, Optimism has enabled special features for helping eligible users claim the airdrop tokens. Many people wondering about how to get Optimism airdrop could find a feasible solution directly on its official website. Users can check their eligibility for the airdrop directly on the official website of Optimism.
It can help in addition to Optimism to the Metamask wallet through Chainlist alongside ensuring connection to the network. Eligible users can claim the airdrop by providing a few important details, such as wallet information and credentials. Subsequently, users would have to provide answers to some questions regarding the Working Constitution, followed by a delegation of their tokens before they claim the free airdropped tokens.
Some users might also have doubts about Optimism airdrop value and how it would sustain in the future. Interestingly, the OP token has experienced major fluctuations in price after the launch, with different factors coming into play. Some of the factors include the currently prevailing bear market sentiment alongside statistics about the popularity of OP tokens. Optimism has also announced plans for a second airdrop with improvements based on the lessons learned from the first airdrop.
Eligibility for Optimism Airdrop
The discussions about airdrop for the Optimism Layer 2 network would be incomplete without referring to the eligibility criteria. You cannot know whether you can get the airdrop when you don’t have any idea regarding eligibility. The airdrop by Optimism focused prominently on rewards for early adopters as well as active users for different projects on the Optimism network.
Out of the total addresses eligible for receiving OP tokens in the first airdrop, many have not been claimed. The distinction in eligibility criteria for the airdrop could showcase how you can grab an airdrop. In the case of Optimism, you would find six unique sets of eligibility criteria for different users.
Two of the sets of eligibility criteria focus on Optimism users, targeting early adopters and active project users. Subsequently, the other four categories of eligibility criteria focus on Layer 1 Ethereum and evaluate active participation, active contribution, and positive-sum behaviors. Every set of eligibility criteria is different from the other, thereby ensuring that a specific Optimism token address can be eligible for multiple airdrops. A broader explanation for different allocations within the airdrop by Optimism could help you understand how to get one.
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The first set of eligibility criteria for OP airdrop focuses on early adopters of Optimism. The Optimism Foundation wanted to reward the users who had been actively using different applications on Optimism. Two important categories of early adopters include general Optimism users and repeat Optimism users.
Each of these categories features distinct eligibility criteria. For example, Optimum users must have addresses that were bridged to Optimism before June 23, 2021, or carry out transactions on Optimism for more than one day. Repeat Optimism users are the active users who visit the network repeatedly to use the applications within its ecosystem.
Active Ethereum Participants
The answers for how to get Optimism airdrop would also draw attention towards the four important categories of active Ethereum participants. With the rules for eligibility of active Ethereum participants for OP token airdrops, the foundation aims to align the common values of Ethereum and Optimism. The collection of active Ethereum participants would include DAO voters, Gitcoin donors, multi-sig signers, and users who have been priced out of Ethereum. Let us take a look at the eligibility criteria associated with these user groups.
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The DAO voters are an important component in the governance infrastructure for Optimism. According to the Optimism Foundation, active and engaged participation in governance can offer crucial benefits in scaling decentralized systems. Addresses that could match the criteria show an active interest in contributions to the project’s governance. The criteria for claiming airdrops for DAO voters imply the need for addresses that must have voted or developed a minimum of one on-chain proposal or two off-chain proposals.
Multi-sig signers qualify as the next important highlight in the group of active Ethereum participants with eligibility for OP airdrop. The multi-sig signers take on the responsibility of massive capital pools alongside exerting control over key functions within the protocol. Multi-sig signers must be current signers who have executed a minimum of 10 transactions in total.
The Gitcoin donors on layer 1 also qualify for OP token airdrop on the grounds of their positive-sum behavior. Gitcoin donors opt for positive-sum behavior through funding for public projects and assets. Such assets could easily align with the overall goal of Optimism for developing sustainable funding sources to facilitate the creation of public goods by leveraging retroactive funding. The Gitcoin donors qualify only when the address has carried out an on-chain donation on layer 1 by using Gitcoin. It can include any type of donation, including the ones obtained during the matching rounds.
- Users Moving Out of Ethereum
It is also important to note that active dApp users on Ethereum play a crucial role in driving the ecosystem. However, many active users have been moving to other blockchains due to issues of high transaction fees. Optimism wants to retain such users in the Ethereum ecosystem while offering rewards for their dedication to the community. Interestingly, the optimism token airdrop has been tailored with specific elements to facilitate rewards for loyalty to Ethereum.
Therefore, users who have completely left Ethereum would not receive any type of eligibility for the airdrop of OP tokens. The eligibility of active Ethereum users depends on making app transactions on Ethereum every month after bridging out of Ethereum. In addition, the users must have conducted a minimum of two transactions per week on average after moving outside Ethereum.
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What is the Overlap Bonus?
The process of determining Optimism airdrop value can be complicated when users match multiple criteria. Many of the early users have fulfilled multiple Ethereum criteria and proved their abilities to become important participants within the Optimism ecosystem. In such cases, users are eligible for the Overlap Bonus, which increases as users match more eligibility criteria. Any address complying with the early adopter criteria for Optimism and the other four criteria sets could earn the Overlap Bonus.
The Optimism Foundation also sets global filtering criteria, which can avoid the concerns of unfair allocation of OP airdrops. The global filtering criteria point to some basic filters which can help in determining the eligibility of addresses for Optimism airdrops. Some of the basic filters include address activity, recency filters, Sybil farmers, exploiters, snapshot bots, and spam.
If you want to know how to get Optimism airdrop, then you must have a detailed impression of the eligibility criteria and filters. Each filter offers significant support in ensuring the inclusion of verified users within the Optimism ecosystem. For example, address activity helps in verifying the eligibility of users for the active Ethereum participants category.
The basic filters also include a recency filter to verify whether users have conducted any transactions recently. In addition, the basic filters also remove snapshot bots, spam, and exploit addresses. The filtering criteria of Optimism also exclude centralized exchange addresses and fiat on-ramp addresses.
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The simplicity of obtaining an Optimism airdrop can be a commendable highlight for beginners. The airdrop introduces users to a world of new, interoperable and scalable solutions without the congestion troubles on Ethereum. As a Layer 2 technology, Optimism has a vital role to play in the future of decentralization.
However, it is also important to understand that privileges for an airdrop of OP governance tokens come at a cost. Early Optimism adopters and active Ethereum users are the foremost candidates for the airdrop. Interestingly, Optimism has offered a clear outline for their airdrop eligibility criteria alongside other basic filters for the airdrop. Learn more about Optimism and how it can improve scalability in the future.
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*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!