Enabling $OP as a gas token on Optimism Network!

this is great :gem::bulb: i fully support. :100: have you tried to identify the swot of this? it’s better if there is so we can make strategies to counter any negative factors, etc. anyway, all in all double thumbs up for this!!:+1:t2::+1:t2:

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The idea is good but there is one problem who is going to cover the 25% discount? The fee in ETH is used to cover the ETH fees so someone would have to cover this 25%, essentially making this proposal impossible to sustain.

What I would propose though is having Optimism as an option to pay for fees, converting that OP → ETH automatically and paying the fee. The only problem is updating a network that is live brings many large challenges, it would be best as a secondary layer!

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First of all, do you think it is a good line of reasoning to say we should do something because other networks do it? None of those other networks you listed are a rollup, so that’s a significant difference. Optimism inherits the security of Ethereum and must pay in ETH for that security. Therefore the transaction fees collected on Optimism should be in ETH.
Secondly, if you are a small token holder, you can delegate your votes to anyone else so that you add to their weight and they represent your opinions. You can put your vote anywhere you want, and see it register within the system. That’s better than you can get anywhere else for the time being.
Thirdly, blockchain governance is not worthless. Some tokens like ETH are designed to accrue value, others are meant for different purposes. OP at this point is for grants and for governance.

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Making it easier to pay for gas in anyway possible is always a good thing because it reduces the slope of the onramp for new users. Very in favor of this.

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OP gas is good , and easier to pay

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I’m not sure if this is the case. At the moment fees are paid in ether, isn’t it more likely that a new users onboarding to Optimism will already have some ether than some OP?

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Yes,agree! should make op more valuable

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It is good idea. Please implement it soon.

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It’s important to read this. I don’t see any reason to enable OP as a gas token can be a good idea for sustainability. It is better to build something based on reality, not speculation.

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I’m onboard for this!

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It looks like it should, but the implementation might not

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I highly recommend to increase the utility of the token. No one is interested in a simple governance token with a max. supply of 4.3 billion tokens. If OP has no more utility than voting, the price will drop heavily. I see the importance of a decentralized governance but without addtional utility, it will lose its role when other L2 networks launch which can provide more utility (e.g zkSync)

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If Optimism network started off as a solution to scale ETH L1, we should continue to use ETH as gas fee to contribute to the growth of ETH L1 - otherwise we are just like another L2 competing with ETH?

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Great Idea, I hope its a yes for the community.

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Pretty awesome to be able to lower gas fees by using $OP.

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Love the idea. seems like a no brainer

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I think this is tricky idea to implement, since as far as I know Optimism synchs the calldata to L1, meaning they need to pay ETH.
Now the question would be how to find that ETH.
( have a limited knowledge on the internal impl)

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不太可能啊[quote=“ApePrince, post:1, topic:2362, full:true”]
Enabling $OP as a gas token on Optimism Network! :red_circle: :star2: :red_circle:

The $OP token can be used to pay gas fees on the Optimism Network!. This is a major addition to the utility of the $OP token, and will help increase adoption and usage of the Optimism Network!.

ETH remains the default gas token, but all users will have the option to change to $OP. Users preferring to stick with ETH gas payments do not have to do anything, but using $OP will result in a 25% gas fee discount!

Benefits

The Optimism token already has significant utility on the network, and this improvement will unify usage of $OP as the fees token for all Optimism Networks. Currently, $OP is used for voting and delegating votes in the Optimism Network.

This can incentivize bridging since we can airdrop a small amount of $Op for first time users of the network. It will also prevent the need to bridge both ETH and for Optimism Network usage.

Additional benefits:

Increased trading volume for $OP
Increase the total market cap with the usage of $Op tokens as Gass
Increase the price of the $OP.
$Op will be traded in Eth and L1 markets.
Increased user choice on the network.
Makes it easier for bridging.
Eliminates the need to bridge both $ETH and $OP for network usage

Technical Details

Adding a second fee token to a live Mainnet is a major technical lift with many ramifications for security, convenience, documentation, message-relay, fraud-detection, block-explorers, The Graph indexing, wallets, the gateway, and overall developer and user experience. We are proposing an opt-in strategy where users can, if they wish, pay for fees in $OP. This fee choice will be recorded in an L2 contract. Changing the fee token will require interacting with this feeChoice contract. To reduce friction points for new users, a second system of contracts will be built that allows users without ETH on L2 to change their fee setting to $OP, using a MetaTransaction, in which Optimism Network pays the ETH to change their fee token setting in return for OP from the user. This means that for new users, they will only need to bridge OP to Optimism to then use its full range of services, contracts, and DAPS

What Does this Mean for User experience?

If you want to continue to use ETH to pay for transactions on the Optimism Network, you don’t have to do anything.If you want to pay for transactions in $OP, select $OP, and confirm the transaction. After that, all future transactions will be charged in $OP. Users will be able to switch between $OP and $ETH as the fee token.

Conclusion

$OP Token Receives Utility Boost, Use for Gas Fees on Optimism Network

Credits goes to - Zukaboba :red_circle: :star2: :red_circle: :
[/quote]

yes We need more application scenarios to enhance OP value

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100% agree, optimism should and probably will use op as the native/secondary token someday

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This makes sense a lot. Good one Apeprince!

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