Optimism Kicks off Third OP Airdrop: All You Need to Know

Optimism has kicked off its third round of OP airdrops.

Optimism coins dropping from the air, a little red character is shocked.
Created by Kornelija Poderskytė from DailyCoin
  • Optimism has kicked off its third round of airdrops.
  • The airdrop aims to reward community members for governance participation.
  • In this article, we delve into all you need to know about the latest round of airdrops.

For many in crypto, airdrops can be a springboard to life-changing wealth. At the same time, for projects, the promise of airdrops can be a great way to kick off engagement. 

Unlike most projects that offer airdrops only at the beginning and lose user interest afterward, Optimism has managed to use airdrops as a tool to maintain engagement over time. Following OP airdrops in March 2022 and May 2022, the Optimism Foundation has kicked off its third round of airdrops to active OP mainnet users. 

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This article answers all the burning questions about Optimism’s latest round of airdrops.

OP Airdrop #3

On Monday, September 18, the Optimism Foundation announced the third round of OP airdrops. 

The airdrop will see 19 million OP (worth approximately $26.22 million) distributed to 31,000 wallets. Like the second OP airdrop, the third one is designed to reward community members for participation in governance. 

Now that you know the third OP airdrop, let’s see who is eligible.

Who Is Eligible for Optimism’s Third Airdrop?

To qualify for Optimism’s third airdrop, you must have delegated OP tokens for at least seven days between January 20 and July 20. Additionally, your OP tokens multiplied by the number of delegated days must exceed 18,000 units.

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User rewards were calculated by multiplying the computed units by about 0.0018. This reward was doubled for users who delegated to an address that voted at least once on-chain. Nonetheless, the Optimism Foundation set a reward cap of 10,000 OP per wallet.

How to Claim Optimism’s Third Airdrop

Bad actors tend to target airdrops because of the hype and excitement surrounding them. One of the methods typically employed by scammers in these instances is phishing scams, which attempt to trick users into connecting their wallets to malicious websites.

Optimism eliminates the claim process to minimize the chances of users falling for these scams, opting to send rewards directly instead with no action needed on the part of users. 

"There is no need to claim this airdrop. Do not interact with any site asking you to do so," the team warns.

Meanwhile, as highlighted by the Optimism Foundation, all hope is not lost for community members who missed the third airdrop. 

Missed Optimism’s Third Airdrop? There’s More

At inception, Optimism earmarked 19% of the OP supply for airdrops (approximately 816 million OP). The first airdrop allocated 5% of the OP supply to users (about 214.7 million OP) to community members, and the second one distributed over 11.7 million OP tokens. 

Crunching the numbers and factoring in the latest airdrop of 19 million tokens leaves at least  570 million OP for future airdrops. 

Even though airdrops are typically seen as selling events, OP’s price has remained relatively stable. The asset is trading at $1.39 at the time of writing, representing a 0.01% gain over the past 24 hours, according to data from CoinMarketCap.

On the Flipside

  • Optimism placed a reward cap of 10,000 OP per wallet.
  • It is unclear when the foundation will announce its next round of airdrops.

Why This Matters

Optimism has become one of the most popular Ethereum scaling solutions, with its envisioned multichain ecosystem playing host to Coinbase‘s Base. The Optimism Foundation’s airdrop strategy hopes to encourage active participation on the network for a very long time.

Read this to learn more about Optimism’s Superchain framework:
Optimism Introduces Framework to Guide Superchain Participants

Learn more about Binance CEO Changpeng “CZ” Zhao’s gaffe:
CZ Contradicts Binance’sBinance’s Own Lawyers in Asset Custody Claims

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Okoya David

David Okoya is a crypto news reporter at DailyCoin based in Nigeria. He covers various topics related to the cryptocurrency industry, including exchanges, regulations, and price movements, and strives to bring fresh angles to breaking news. With experience as a freelance crypto news writer, David upholds the highest journalistic standards, telling complete stories and answering lingering questions whenever possible.