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About OP

Optimism (OP) is a cryptocurrency launched in 2022. OP has a current supply of 4.29Bn with 957.38M in circulation. The last known price of OP is 3.66 USD and is -0.029192504648 over the last 24 hours. It is currently trading on active market(s) with $212.77M traded over the last 24 hours. More information can be found at https://www.optimism.io/.

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OP Price Statistics
OP’s Price Today
24h Price Change
-$0.0291925046480.79%
24h Volume
$212.77M24.01%
24h Low / 24h High
$1.44 / $1.54
Volume / Market Cap
0.060641798819
Market Dominance
0.18%
Market Rank
#35
OP Market Cap
Market Cap
$3.51Bn
Fully Diluted Market Cap
$15.74Bn
OP Price History
7d Low / 7d High
$1.16 / $1.60
All-Time High
$4.57Jun 01, 2022
All-Time Low
$0.40050769Jun 19, 2022
OP Supply
Circulating Supply
957.38M
Total Supply
4.29Bn
Max Supply
4.29Bn
Updated Feb 23, 2024 10:34 pm
image
OP
Optimism
$3.66
$0.029192504648(-0.79%)
Mkt Cap $3.51Bn
There's nothing here for now
planet morning news
planet morning news
1. StarkWare changes the token unlocking schedule, reducing the unlocking scale for early contributors and investors to 580 million before the end of the year; 2. Reddit files for an IPO and invests part of its cash in Bitcoin and Ethereum; 3. Lawyer Do Kwon plans to appeal against the Montenegrin court’s decision to approve extradition to the United States; 4. Kraken filed a motion asking the court to dismiss the SEC lawsuit; 5. Axie Infinity denied that Ronin and its Bridge were attacked, saying that the whale private key was leaked; 6. The EU established a new anti-money laundering agency in Frankfurt, Germany, which will supervise the encryption industry; 7. Judge approves FTX’s sale of stake in $1 billion AI startup Anthropic; 8. Franklin Templeton Ethereum Spot ETF has filed 19b-4; 9. Re-pledge service provider EigenLayer completed US$100 million in financing, with a16z participating in the investment; 10. Solana ecological developer platform Helius completed US$9.5 million in Series A financing, led by Foundation Capital; 11. Binance Labs announced its investment in Renzo Protocol to promote innovative development in the field of liquidity re-pledge; 12. OP Labs: OP Goerli plans to go offline on March 7; 13. Euler Finance, the lending protocol that had $197 million stolen, announced that it is about to restart; 14. Coinbase denies that its website is blocked in Nigeria; 15. XAI staking system V1 will be launched next week, and V2 will be launched in March.
Feb 23, 2024 10:00 am

Frequently Asked Questions

  • What Is Optimism (OP)?

    Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. That means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum.

    Optimism is one of the biggest scaling solutions for Ethereum with over $500 million in TVL. It is home to 97 protocols, the biggest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM. Users can begin their journey on Optimism by adding the chain on their Metamask and bridging tokens like ETH to the L2. On May 31, 2022, Optimism conducted a highly anticipated airdrop of its OP token.

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  • Who Are the Founders of Optimism?

    Optimism is led by the Optimism Foundation, a nonprofit organization dedicated to growing the Optimism ecosystem. Similar to Ethereum, Optimism aims to become a fully decentralized public good that is not profit-oriented. Optimism is completely funded by donations and grants, and pledges to produce infrastructure that promotes the growth and sustainability of public goods.

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  • What Makes Optimism Unique?

    Optimism is designed around four core tenets:

    • Simplicity
    • Pragmatism
    • Sustainability
    • Optimism

    Optimism aims for the minimum number of moving parts while building a layer-two solution for Ethereum. In practice, this means using proven Ethereum code and infrastructure when possible. Optimism thus aims to keep its code as simple as possible and work directly with existing codebases.

    The ecosystem further emphasizes pragmatism and is driven by the real-world needs and constraints of its own team and the users engaging with the ecosystem. Hence, Optimism aims to build iteratively and implement features like EVM equivalence gradually.

    Optimism's design process is built around the idea of long-term sustainability and not taking shortcuts to scalability. That is why it uses optimistic rollups and takes advantage of the consensus mechanism of Ethereum to scale the network. Blocks are constructed and executed on the L2 (Optimism), while user transactions are batched up and submitted to the L1 (Ethereum). The L2 has no mempool, and transactions are immediately accepted or rejected. This guarantees a smooth user experience while ensuring security through the Ethereum consensus mechanism.

    Transactions are submitted to Ethereum without direct proof of validity and can be challenged for a certain period of time (currently seven days). After that, a transaction is considered final. That is why withdrawals from Optimism to Ethereum take seven days to complete.

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  • How Many Optimism (OP) Coins Are There in Circulation?

    Optimism aims to create an ecosystem, where value is generated for its three constituencies:

    • Token holders receive value through the productive re-deployment of sequencer revenue.
    • Contributors and builders receive value from retroactive public goods funding.
    • Users and community members receive value from ongoing airdrops and project incentives.

    In short, demand for OP block space generates revenue, which is distributed to public goods, which drives more demand for blockspace. That is why Optimism's token allocation looks as follows:

    • Ecosystem fund (25%): split between the governance fund (5.4%), the partner fund (5.4%), the seed fund (5.4%), and unallocated (8.8%).
    • Retroactive Public Goods Funding (20%)
    • User airdrops (19%): split into a first airdrop of 5% and subsequent airdrops yet to be announced.
    • Core contributors (19%): people who help bring the Optimism Collective from concept to reality
    • Investors (17%)

    The initial token supply is 4,294,967,296 OP tokens, at an inflation rate of 2% a year. In Year 1, 30% of the initial token supply will be made available to the Foundation for distribution. After the first year, token holders will vote to determine the Foundation's annual OP distribution budget. The Foundation expects to seek the following annual allocations:

    • Year 2: 15% of the initial token supply
    • Year 3: 10% of the initial token supply
    • Year 4: 4% of the initial token supply
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  • How Is the Optimism Network Secured?

    Optimism utilizes optimistic rollups. Optimistic Rollups (ORs) can trustlessly record transactions on the second-layer blockchain and broadcast periodic merkle roots of the transactions to the first-layer blockchain. External validators verify these merkle roots, which delays withdrawing funds from layer-twos running on optimistic rollups (usually by one week).

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  • Where Can You Buy Optimism (OP)?

    OP is available on Binance, Huobi, KuCoin, Gate.io, Bybit and Coinbase.

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  • What is the all-time high price of Optimism (OP)?

    The all-time high of OP was 4.57 USD on 2022-06-01, from which the coin is now down 19.91247264770241%. The all-time high price of Optimism (OP) is 4.57. The current price of OP is down 19.91247264770241% from its all-time high.

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  • How much Optimism (OP) is there in circulation?

    As of , there is currently 957.38M OP in circulation. OP has a maximum supply of 4.29Bn.

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  • What is the market cap of Optimism (OP)?

    The current market cap of OP is 3.51Bn. It is calculated by multiplying the current supply of OP by its real-time market price of 3.66.

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  • What is the all-time low price of Optimism (OP)?

    The all-time low of OP was 0.40050769 , from which the coin is now up 813.8401312594024%. The all-time low price of Optimism (OP) is 0.40050769. The current price of OP is up 813.8401312594024% from its all-time low.

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  • Is Optimism (OP) a good investment?

    Optimism (OP) has a market capitalization of $3.51Bn and is ranked #35 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Optimism (OP) price trends and patterns to find the best time to purchase OP.

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