Hassan Maishera
TL;DR
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Optimism has distributed more than 10 million OP tokens in its fourth airdrop.
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Its OP token is down by 1% in the last 24 hours.
Optimism Distributes Over 10 Million OP Tokens in Fourth Airdrop
Layer 2 network Optimism announced its fourth airdrop worth over $41 million. According to the team, the tokens will be issued to Web3 artists for their contributions to the network.
According to the announcement, Optimism will be distributing 10,343,757.81 OP, worth roughly $40.8 million, to 22,998 addresses. Users now have until February 13, 2025, to claim the tokens. The Optimism team said,
"A great society needs artists. This airdrop is a thank you to the artists and their ability to bring creativity onchain. Your contributions play a vital role in the Optimism Collective."
This is the fourth airdrop on the Optimism network. Optimism pointed out that artists who created NFT art from Jan. 10, 2023, to Jan. 10, 2024, on the Ethereum mainnet or Optimism's Superchain were eligible for the airdrop.
This round rewarded NFT creators on the network and is decided by how much gas other users spent while minting or trading their NFTs. furthermore, the more popular the NFT project, the more rewards the NFT creator is eligible for. At an average, each wallet will get around 6,000 OP ( about $23,640) per address.
This wouldn’t be the last airdrop on the Optimism network as the team still has roughly 560 million OP remaining for future airdrops. The team said multiple drops allow them to refine this mechanism, fostering positive-sum behavior.
OP, the native token of the Optimism ecosystem, failed to react to this latest round of airdrop. It is down by 1% in the last 24 hours, in line with the poor performance of the broader cryptocurrency market.
At press time, OP is trading at $3.77 per coin. OP is currently the 30th-largest cryptocurrency by market cap and is up by 45% over the last year.
