Layer 2 blockchain Optimism has successfully completed a private and planned token sale of 116 million OP tokens for $157 million to seven distinct buyers, an announcement on the Optimism governance website said.
“Optimism has entered into a private token sale of approximately 116M OP tokens, split among seven purchasers, for treasury management purposes. The tokens are subject to a two-year lockup. During the lock-up, the purchasers will be able to delegate the tokens to unaffiliated third parties for participation in governance,” Optimism said in an update to the community.
Optimism is co-founded by Jinglan Wang, who is considered as one of the top women in web3.
These tokens were sourced from an unallocated portion of the OP Token treasury, which currently holds approximately $1.25 billion, exclusively in its own token.
The seven purchasers of these tokens have been granted the ability to delegate them to third parties, enabling their participation in blockchain governance decisions.
Furthermore, the foundation recently conducted its third community airdrop, distributing a total of 19.4 million tokens to more than 31,000 users.
Despite these distributions, the circulating supply of OP tokens remains relatively low when compared to the overall supply, as an additional 570 million tokens have been earmarked for future airdrops.
According to CoinMarketCap, the circulating supply of OP tokens currently stands at 18.59% of the total supply.
As for the market performance, OP tokens are presently trading at $1.35, reflecting a 2.19% decrease in value over the past 24 hours.
