Optimism selling $162 million in tokens, flags imminent transfer

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By BitcoinWiki News

Key Takeaways:

  • Optimism is selling 116 million OP tokens in a private token sale.
  • The tokens are worth around $162.4 million.
  • The sale is for treasury management purposes.
  • The tokens are subject to a two-year lockup.
  • Purchasers can delegate the tokens to unaffiliated third parties for governance participation.
  • Optimism previously transferred 130 million OP tokens between wallets for treasury management.
  • They also announced an airdrop of 19.4 million OP tokens to participants in delegation activities.
  • The tokens come from the unallocated portion of the OP token treasury.
  • Optimism’s token has a total market capitalization of over $1.1 billion.
  • The transfer of the tokens will begin today.

Optimism, a Layer 2 network, is selling 116 million OP tokens worth approximately $162.4 million in a private sale. The organization plans to transfer the funds immediately. The tokens are subject to a two-year lockup, during which the purchasers can delegate them to unaffiliated third parties for participation in governance. This private token sale is part of Optimism’s treasury management strategy. Earlier this month, the organization transferred 130 million OP tokens for the same purpose. Additionally, Optimism allocated 19.4 million OP tokens to participants in delegation activities through an airdrop. The $162.4 million in tokens come from the unallocated portion of Optimism’s token treasury. The organization stated that the tokens’ transfer would begin immediately. Optimism’s token has a market capitalization exceeding $1.1 billion. This article is for informational purposes only and does not constitute legal, tax, investment, financial, or other advice.

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