Optimism (OP) is a lightning-fast Layer 2 blockchain scaling solution for Ethereum. The protocol uses a data compression technique called Optimistic Rollups to process transactions in batches to reduce transaction time and gas fees. Optimism aims to develop and sustain public goods on Ethereum until it becomes decentralized. Currently, there are over 180 projects built on the Optimism network, including DeFi applications, NFTs and many more.
The native token OP was initially distributed in May 2022 to reward its early Optimism users via an airdrop. OP token holders are given participation rights to The Optimism Collective. The Optimism Collective is governed co-equally by the Token House and the Citizens’ House, which aims to accelerate sustainable growth within the ecosystem. The Token House votes on various types of governance proposals, while the Citizens’ House governs the retroactive public goods funding (RetroPGF).
The market cap of OP now stands at about $250 million, with over 214 million OP tokens in circulation (as of mid-January 2023). OP’s all-time high (ATH) price peaked at $2.21 in August 2022 and is now trading at about $1.81 (as of mid-January 2023).
Optimism (OP) is available on the Matrixport app; alongside other blue-chip cryptocurrencies like Bitcoin (BTC), Ether (ETH), Stablecoins (USDT & USDC), and many more. Users can deposit, withdraw and transfer OP on the app.
Matrixport is one of the world’s largest and most trusted digital assets ecosystems providing one-stop crypto financial services to meet the emerging needs of generating long-term wealth in digital assets. It forges strategic collaborations with early-stage Web3 innovators, helping them build, grow and scale and the company’s services include Cactus Custody™, spot OTC, fixed income, structured products (including Dual Currency), lending as well as asset management.
With USD4B in actively managed digital assets, Matrixport achieved a pre-money unicorn valuation in 2021 and was named by CB Insights as the 50 most promising blockchain companies in the world in 2022. Its digital prime brokerage business, Matrixport Institutional, serves 500+ institutions across the US, Europe and Asia, offering best-in-class access, leverage, capital Introduction and custody services.
Headquartered in Singapore, the company holds a Hong Kong Trust Company License and a Swiss FINMA SRO-VQF Membership. For more information, visit www.matrixport.com.
Optimism was founded in 2019 and launched its network operations in 2021. It is a Layer 2 scaling solution for Ethereum to increase transaction speed and reduce costs. Its native token OP was launched in May 2022, giving participation rights to token holders to The Optimism Collective, a bicameral governance system to support public goods and sustain the ecosystem.