Optimism (OP): an airdrop victim of overflows - A network overload observed

Optimism (OP): an airdrop victim of overflows – A network overload observed

Significant failures on Optimism – L’airdrop governance token PO of the second layerEthereum (ETH) optimism, shook the networkfor lack of sufficient capacity in relation to demand.

Distribution of OP tokens: turbulence on Optimism

Optimism officially launched theairdrop of its governance token, I’PO1er June 2022. Nevertheless, tweeters, like OlimpioCrypto, had already announced the day before, the start of the free distribution of OP.

According to a moderator from the Optimism team on the project’s Discord channel, some network users were able to claim their tokens the May 31, 2022. They succeeded in obtaining, in advance, OPs by interacting directly with the relevant smart contract.

Also, the official launch of OP’s airdrop was marked by a “record request” . 250,000 addresses were eligible. This explosion in demand is the cause of the delay orfailure of certain transactions.

The project team tried to solve these overload problems, by increasing the capacity of the network.

“Wow, what a day! OP’s first drop had a turbulent launch that we finally stabilized after more than 5 hours of non-stop work. »

Tweet from Optimism

Some users had also discovered, during the launch of the airdrop, that they were ultimately not eligibledespite having received a contrary notification a few days before.

The project plans to publish a “in-depth retrospective next week”. He also indicated that he would learn lessons of this first airdrop. These experiences will be put to good use for the second round of OP token distribution.

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Governance of Optimism: POs in the House Token

The launch of the OP token airdrop has been completed in parallel with launch of the Decentralized Autonomous Organization (DAO) “The Optimism Collective”. This DAO is subject to a system of bicameral governance. It is provided by 2 chambers: the Token House and the Citizens’ House.

The OP is used in the Token House. It intervenes in decisions relating to the following areas:

  • protocol upgrade;
  • network settings;
  • cash funds;
  • project incentives.

Crypto investors who did not qualify for the airdrop can now to acquire POs on different platforms.

The OKX cryptocurrency exchange announced on May 31, 2022 that it would offer OP/USDT and OP/USDC at 6:15 PM UTC-5 the same day.

The OP can also be traded on centralized exchanges, like Coinbase, Bybit, Gate.io, MEXC Global and on the decentralized exchange, Uniswap.

The free distribution OP tokens has therefore experienced several technical problems. Optimism had yet entered at war with the Sybils to prevent a single network user from increasing their chances of receiving multiple POs and thus unnecessarily overloading the network.

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