Optimism Foundation announced that it will privately sell approximately 19.5 million governance tokens. Neither the terms of the private sale nor the identity of the buyer were disclosed. The altcoin project stated that the tokens will be subject to a two-year lockup period.
Optimism Foundation will sell OP tokens privately!
The Foundation announced the launch of a private sale involving approximately 19.5 million of its governance tokens, known as OP. This sale, estimated to be worth over $89 million, represents a significant part of the Foundation’s financial strategy. It also accounts for 30% of the initial OP token supply.
It sells tokens that are part of the foundation’s original operating budget to private individuals. Meanwhile, the tokens will be subject to a two-year lock-up period. During this period, recipients will have the opportunity to transfer these tokens to third parties unaffiliated with the Foundation in order to participate in governance decisions.
The altcoin project has made similar sales before
This strategic sale draws from the Unallocated portion of the OP Token treasury. Optimism Foundation has always maintained transparency regarding token supply. Additionally, public tracking is available for those who want to track the distribution and allocation of OP tokens. In the coming days, the Foundation has planned several transactions to distribute OP tokens. These operations are part of a pre-planned program. Additionally, the Foundation made a proactive effort to inform the community in advance of these moves.
Details about the terms of sale and the identity of the buyer remain confidential, as is customary in such private sales. However, this is not the first example of such a sale by the Foundation. cryptokoin.comAs you follow from , Optimism Foundation previously held a similar private sale in September 2023. He disposed of 116 million OP tokens worth over $160 million at the time
There were also negative reactions to the sale: It leaves a bad taste in the mouth!
News of the latest OP private sale was not generally well received by the broader Ethereum community. Anthony Sassano, founder of The Daily Gwei, shared on X that “private sales like this with zero transparency really leave a bad taste in my mouth.” Another X user sarcastically claimed: “If this is a private sale, there’s no dumping, right?” said. Despite some negative sentiment, the price of Optimism’s OP token has increased by nearly 3% in the last 24 hours.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!