• analysiswatch

Title: Optimism token falls 40%, prompting calls to bar dumpers from airdrops


Jun 03, 2022 01:20AM ET


By: AnalysisWatch


Optimism's freshly launched OP token has plunged 40% since its high of $2.10, prompting community members to discuss excluding those who have dumped their tokens from future airdrops.


Cointelegraph reported on Tuesday that Ethereum's Layer-2 scaling solution was overwhelmed by demand for OP's first airdrop token management, as 5% of the token supply was distributed to approximately 250,000 eligible users.


According to CoinGecko, the token opened at around $1.43 before rising to $2.10. However, as more users took advantage of the free airdrop throughout the day, the OP dropped as low as $1.09 before rebounding to $1.18, a 43% drop at the time of writing.


Following the sharp drop in OP's price, a member of the Optimism Governance community, going by the name OxJohn on the Optimism Governance forum, suggested excluding addresses that have gotten rid of 100% of their airdrops. The post generated a lot of attention in the community - 11,200 views, 305 replies and 595 likes.


OxJohn pointed out several addresses that received at least 32,000 OP tokens and immediately delisted them, claiming that their actions were "counterproductive" for the community and diluted the governance process.


OP Hodlers suggested that these accounts be excluded from the next round of OP airdrops and that a public list of accounts that engage in this behavior be created. In their view, this would result in only those who want to actively participate being considered for governance allocations.

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