The Optimism Basis has floated a significant shakeup to the dynamics of the layer 2’s OP token, proposing to allocate 50% of its Superchain income to common buybacks of the asset.
Optimism Grants council member Michael Vander Meiden shared the proposal through X on Thursday, highlighting that “after a few years of being a ‘ineffective gov token’ the worth of the OP token will lastly be tied to community exercise.”
The proposal was initially submitted within the Optimism governance discussion board on Wednesday. It outlines a plan to direct 50% of incoming Superchain income to month-to-month Optimism (OP) buybacks that may circulate again into the token treasury.
“These tokens can then be burned or distributed as staking rewards because the platform evolves. Governance will retain oversight over parameters that management the buyback and the token treasury,” the Optimism Basis stated.
Optimism desires to develop OP utility past governance
The transfer is a part of a push to increase OP utility past primarily governance into one thing that’s “tightly aligned with the expansion of the Superchain,” and will present a significant increase to OP holders and builders inside the ecosystem.
“Because the Superchain evolves, the token might tackle extra performance aligned with the community’s long-term decentralization and resilience, together with roles in securing shared infrastructure, coordinating sequencer rotation, and enabling collective governance over core protocol capabilities,” the Optimism Basis stated.
Associated: Ethereum is the Linux of blockchain, says co-founder Vitalik Buterin
The proposal outlined the significance of relativizing OP to replicate the expansion of Optimism from being an “experiment” in Ethereum scaling to an ecosystem internet hosting a major quantity of complete layer 2 exercise.
“The Superchain captured 61.4% L2 charge market share and processes 13% of all crypto transactions, and that share continues to rise. The OP token must be aligned with that momentum and development,” the crew stated.
Optimism’s Superchain was launched again in February 2023 and consists of a community of layer-2 (L2) chains constructed with the venture’s open-source OP stack. The ecosystem hosts chains corresponding to Unichain, Ink and Coinbase’s L2 Base.
The OP token had a tricky 2025, with its value declining by practically 83%. The value has but to bounce this week on the information of the proposal.
Journal: China’s Ethereum’ in civil conflict, Japan to embrace Bitcoin ETFs: Asia Categorical
