Optimism (OP), one of Ethereum’s leading Layer 2 networks, plans to directly distribute the remaining funds from the initial airdrop to eligible addresses that have not yet requested the airdrop. Altcoin investors have a second opportunity to reap their rewards. However, this decision triggers selling pressure on the price.
Optimism (OP) announces second opportunity for those who did not collect the first airdrop
Optimism decided to distribute the remaining funds of its first airdrop directly to eligible non-requesting addresses. This airdrop, launched on June 1, 2022, distributed 166 million of the almost 215 million tokens to addresses that requested the airdrop before the announcement. According to the data, nearly a quarter of eligible addresses did not request the airdrop. OP price lost 3.5% on a 24-hour scale following the airdrop distribution.
Optimism had committed to distribute 19% of the initial token supply through airdrops. After two airdrops so far, 13.73% of the initial supply remains. Optimism has not yet announced a third airdrop. According to reports, the altcoin is currently the second largest L2 in Ethereum as measured by TVL.
According to metrics, Optimism has a loyal investor base
Despite adopting the airdrop model to reward early adopters, Arbitrum and Optimism managed to retain some of the users. What are they doing right?
Optimism stands out as one of the best Ethereum scaling solutions. But what most people don’t know is that the project is able to retain a large number of users consistent with interactions within their networks. According to Token Terminal, Optimism has managed to retain 30% of mainnet users over the past 30 days.
Generally, when a project has a high user retention rate, it means that participants in the Blockchain are very satisfied with the use cases the project offers. Even more surprising was that Optimism airdropped altcoins to early adopters. In most cases, airdrops or incentives are not necessary guarantees to keep user activity high. So this means Optimism is doing something right to keep users coming back to their network.
Altcoin project continues to stay alive with new developments
cryptokoin.com As we reported, opBNB mainnet went live recently. OpBNB is a partnership between Optimism and BNB Chain. Its function offers cheaper gas fees and access to Blockchain technology. It is also to act as an EVM compatible Layer 2 chain based on the Optimism OP Stack. Approximately 35 million on-chain transactions occurred before launch. This included 435,972 unique wallets. As a result, it means that network activity on Optimism is at its peak.
According to the latest announcement, Optimism will reopen the distribution of airdrop rewards for those who missed the first opportunity. This development helps the project gain a place among altcoin investors.
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