Banging on eastside

Have seen enough wallets collect the OP airdrop, swap it straight to Uniswap.

These accounts are not playing a constructive role in Optimism governance. Instead of contributing to governance, they are maximising for profit. Nothing wrong with that, as per the airdrop criteria the coins are theirs and they are free to do as they wish. However, from Optimism governance’s perspective, such accounts are counter-productive for our stated goals.

Hence, this proposal is to discuss excluding such accounts in all the future distribution of Optimism’s airdrop. Also, we can make a public list of accounts that engage in this behaviour, so that other projects and DAOs can also choose to borrow from our work - I believe many projects will be interested in rewarding those who actually contribute to governance, rather than those who just see ownership given into a protocol as a short term liquidity bonus.

After identifying sybil accounts, the next progressive step is to identify zero contribution accounts which do not engage with the governance, and hence should not be eligible for any governance weight.

Lets look at some of the top tier/ multiplier eligible wallets accounts that have dumped OP and gained $40k.

[Address 0x1092361f4eafdc6e4555ee761e87ef9c67b9e42f | Optimism ] - Swapped entire airdrop 32,421 OP for 45,894 USDC. Then sent it out of Optimism via HOP. Purely mercenary, net loss to Optimism.

) - Swapped entire 32,421 OP airdrop for ETH and USDC.

Address 0x5f350bf5fee8e254d6077f8661e9c7b83a30364e | Optimism - Swapped entire 32,421 OP airdrop for 38,000 USDC.

[Address 0xcffe08bdf20918007f8ab268c32f8756494fc8d8 | Optimism ] - Entire 32,000 OP airdrop dumped for 48,000 USDC.

Indeed, quite a few good actors have delegated, have added LP etc.

However these above addresses are just 4 wallets from hundreds of similar walelts who have dumped almost the entire airdrop. Many more such wallets can be easily identified from the Dune analytics page: Optimism’s OP Airdrop :red_circle::gift:

Why should Optimism Collective continue rewarding these kind of mercenary actors who will dump their tokens on first sight? Why should any future airdrops reward these addresses?

Of course, it is their coins so they are free to do what they want, but at the same time it defeats the purpose of Optimism Collective and dilutes governance if negative sum participants keep getting rewarded airdrops that they are going to dump the very next transaction after claiming it.