HomeCryptoOptimism Proposal Suggests Airdrop Exclusion for OP Token Dumpers | NEWSRUX

Optimism Proposal Suggests Airdrop Exclusion for OP Token Dumpers | NEWSRUX

This week’s Optimism airdrop was controversial from the beginning, with the claims interface being shut down resulting from overwhelming demand.

The OP token, which is barely a day outdated, has already dumped greater than 43% from yesterday’s peak worth. On June 1, OP hit a excessive of $2.10, gaining 47% from its launch worth of $1.43. Nevertheless, the great instances had been short-lived as new token holders began dumping, inflicting a worth crash to an intraday low of $1.09.

The Ethereum layer-two options supplier needed to reward early adopters, DAO voters, multi-sig signers, and Github donors, however their loyalty was not reciprocated.

No Extra Airdrops for Sellers

This was presupposed to be the primary airdrop with one other deliberate for a wider group of community customers, however which will change if a brand new proposal will get voted for.

On June 1, Optimism neighborhood member ‘0xJohn’ initiated a proposal titled “Customers who offered the preliminary OP airdrop ought to turn into ineligible for all future airdrops.”

In it, he expressed his annoyance on the token selloff stating:

“Have seen sufficient wallets gather the OP airdrop, swap it straight to Uniswap. These accounts will not be taking part in a constructive function in Optimism governance,”

He added that there’s nothing improper with maximizing for revenue however added that these accounts had been “counter-productive” for the protocol’s acknowledged targets. Optimism claimed to have airdropped tokens to virtually 249,000 eligible addresses.

0xJohn listed 4 addresses that dumped your entire airdrop, with one swapping 32,421 OP for 45,894 USDC earlier than sending it out of the ecosystem, which he described as “purely mercenary, web loss to Optimism.”

He proposed excluding such accounts from future airdrops and making a public record of wallets that interact on this conduct.

“Why ought to Optimism Collective proceed rewarding these sort of mercenary actors who will dump their tokens on first sight? Why ought to any future airdrops reward these addresses?”

The vast majority of the 300 or so replies to the proposal agreed with it.

On the time of writing, OP was buying and selling down 26% on the day at $1.19, based on CoinGecko.

The Similar Previous Story

Optimism isn’t the one platform to endure an airdrop token dump. The identical factor occurred with Uniswap’s UNI drop and once more when the Ethereum Identify Providers airdropped ENS tokens to Ethereum area holders.

UNI costs halved in worth a number of days after their launch in September 2020, and ENS costs crashed 40% in simply three days following their debut in November 2021.

Undertaking loyalty solely extends up to now, particularly when free cash is concerned, it seems.


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