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Optimism’s fourth airdrop distributed nearly $41m in tokens

optimism-airdrop-41-million-tokens
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Optimism’s fourth airdrop distributed nearly $41m in tokens

Layer 2 network Optimism unveiled its fourth airdrop, targeting web3 artists with a generous distribution of over 10 million OP tokens, valued at approximately $40.8 million.

The initiative aims to honor artists who have brought creativity to the blockchain, recognizing their contributions as crucial to the Optimism Collective’s ecosystem. According to an official statement, 22,998 recipients have until Feb. 13, 2025, to claim their tokens.

“A great society needs artists,” Optimism stated on its claim page. “This airdrop serves as an appreciation for the artists and their capability to infuse creativity into the blockchain. Your efforts are crucial to the success of the Optimism Collective.”

The eligibility criteria for the airdrop were based on NFT art creation on the Ethereum (ETH) mainnet or Optimism’s Superchain between Jan. 10, 2023, and Jan. 10 this year.

Rewards were calculated on the popularity of an artist’s NFTs, determined by the gas fees incurred during minting or trading activities. For instance, generating 1 ETH worth of gas on the Superchain could earn a creator 5,000 OP, with a cap of 6,000 OP per address.

Additionally, token allocations could see a 50% increase or a one-and-a-half times multiplier for creators meeting specific bonus criteria, such as early contract creation or significant post-launch activity.

The latest airdrop follows three previous distributions, with the most recent prior event in September 2023 disbursing 19.4 million OP tokens.

Optimism has announced plans for future airdrops, with approximately 560 million OP tokens still allocated for such events. The ongoing strategy, as shared on social media platform X, aims to refine reward mechanisms and encourage positive contributions within the Optimism network.

As of Feb. 20, the OP token is trading at $4.08, a slight increase over the past 24 hours. The token’s circulating supply stands at 957.4 million, out of a total supply of 4.3 billion, showcasing a growing role in the Optimism ecosystem and broader web3 community.

Optimism's fourth airdrop distributed nearly $41m in tokens - 1
24-hour chart of OP