Abstract
Optimism (OP) is the native governance token of Optimism, a Layer 2 scaling solution for Ethereum. OP owners can participate in community governance via a unique model known as the Optimism Collective, which allows users to vote on protocol upgrades, direct incentives to projects, and decide how treasury funds are deployed. The Optimism team describes the project’s unique governance structure as a “large-scale experiment in decentralized governance”. The OP token was initially launched in an airdrop that rewarded early adopters of the Optimism ecosystem with 5% of the total OP token supply.