Crypto News and Headlines

Optimism Passes Buyback Proposal to Bolster OP Token

Optimism governance approved a proposal to divert half of Superchain revenue toward buying back OP tokens for the next twelve months, beginning in February. The measure, submitted by the Optimism Foundation, reallocates 50% of income that previously went entirely to the treasury. Based on last year’s earnings, the buyback could involve roughly 2,700 ETH, equivalent to about $8 million at current prices. While the vote passed with 33.27% in favor, the OP price has yet to reflect the change, slipping 1.9% to $0.26.