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The Ethereum Level 2 (L2) scaling project Optimism has announced the launch of Optimism Collective, “a massive experiment in digital democratic governance” run by the newly created Optimism Foundation. In addition to collective governance, there are plans to launch a token called “OP,” which will “manage protocol modernization and project incentives.”
Ethereum scaling project to launch Optimism collective system
On Tuesday, Optimism announced the launch of a management system called Optimism Collective. Optimism is an L2 scaling solution that uses zk-rolls to allow users to transact quickly and economically with Ethereum. The collective was launched by the recently formed Optimism Foundation and will be “run by two houses on an equal footing,” the team said in a blog announcement. On Tuesday, Optimism’s official Twitter account said:
The Optimism team will be run equally by the two houses, the Citizen House and the Token House. Together they will drive the rapid and sustained growth of Optimism, Ethereum and the new Internet. The Citizen House will manage the funding of public goods, creating a flywheel of protocol development.
The Optimism blog post notes that Citizens’ House will be a non-transferable asset in the form of non-transferable tokens (NFTs). “Citizens’ House will keep the network from a plutocratic takeover,” Optimism adds on Twitter. Token House will then incorporate a token called “OP.” In addition, the Optimism team hinted at a number of airdrops.
“It regulates protocol updates, project incentives and more. It encourages growth – It’s not just one airfield. There will be *many* of them,” Optimism said in a Twitter post on Tuesday. Optimism also posted information about how the airdrop will be distributed and details about eligibility. The goal of the new team is to “build a strong public goods infrastructure for the OP, increase the utility of L2, and create a useful economy on which to build,” the team explained.
The initial giveaway will be “in the second quarter,” and the newly created fund will be led by two Optimism founders. “Airdrop #1 will take place in Q2 and hasn’t happened yet – anything that claims you can get OP today is a scam,” Optimism’s Twitter account emphasizes. According to the Optimism team, more than 250,000 addresses are eligible for the initial mailing.
Image credits: Shutterstock, Pixabay, Wiki Commons
