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Optimism Community Approves Proposal to Buyback OP Tokens

by Vivek Kumar
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Optimism Community Approves Proposal to Buyback OP Tokens

The governance backing the Optimism blockchain has approved a proposal to allocate 50% of all Superchain revenue to buy back the network’s token over the next 12 months, starting in February.

The proposal was initially submitted by the Optimism Foundation on Jan. 8 as part of a push to expand the utility of the Optimism (OP) token and align it with the success of the Superchain, a network of unified blockchains.

The voting period ended on Thursday, with the Optimism governance community passing the…

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