OP Specifications

Type

TOKEN

Algorithm

Protocol

Start Date

11/11/2021

Max Supply

4,294,967,296

Circ. Supply

1,351,719,035

Website

Explorer

Social Media

Info

Optimism (OP) is a Layer 2 scaling solution for Ethereum, designed to enhance transaction speed and reduce costs by utilizing optimistic rollup technology. It enables users to perform faster and cheaper transactions while maintaining Ethereum's security. The OP token is used for governance within the Optimism ecosystem and is available on major exchanges, ensuring liquidity for its users.

Market Impact

Optimism has significantly contributed to the Ethereum ecosystem by providing a scalable solution that reduces transaction fees and latency. Its support for seamless token swaps has attracted numerous DeFi projects, enhancing user experience. The availability of OP tokens on prominent exchanges has increased liquidity and adoption, reinforcing its role in the Layer 2 landscape.

History

Launched by the Optimism Foundation, Optimism aims to address Ethereum's scalability challenges. The OP token was introduced to facilitate decentralized governance, allowing token holders to participate in decision-making processes. Since its inception, Optimism has integrated with various decentralized applications, enabling efficient token swaps and securing listings on leading exchanges to broaden its reach.

Features

Optimistic Rollups
Utilizes optimistic rollup technology to batch multiple transactions, improving throughput and reducing costs.
EVM Compatibility
Fully compatible with Ethereum Virtual Machine, allowing developers to deploy existing Ethereum smart contracts without modifications.
Decentralized Governance
Empowers OP token holders to participate in governance decisions, shaping the future direction of the Optimism protocol.

Website

Explorer

Social Media

*The indicators above, do not represent an investment advice and should not be treated as such. Please make your own research and risk assessment before exchanging your assets.