Optimism Launches $9.1M Annual OP Token Buyback Program
Optimism Launches $9.1M Annual OP Token Buyback Program
Optimism has initiated a 12-month token buyback program, committing 50% of its Superchain revenue to monthly OP token purchases, commencing in February. This program is projected to generate approximately $9.1 million in annual buying pressure for the OP token, based on past collected fees. The move signals a strategic evolution in Optimism's tokenomics, despite broader discussions about the efficacy of token buybacks in market price action.
Optimism announced a 12-month token buyback program on Jan. 8, allocating 50% of Superchain revenue to monthly OP token purchases starting in February. The buyback pressure is estimated at roughly $9.1 million annually, based on the past year's 5,868 ETH in collected fees. The proposal frames the shift as a transition from pure governance token.