I agree. Op token is very important for builders and supporters, it should be valuable.
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I beg to differ. Eco cant grow without a respectable market cap.
$OP buyback and burn sounds good to me. It should sustainably increase the price over time
I believe a buyback and burn program will ultimately increase ecosystem growth and enable a higher degree of public goods funding than would exist without the program:
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Aligns incentives between governance and ecosystem growth: If we create a feedback loop whereby governance decisions that promote sustainable ecosystem growth have a positive impact on $OP value, then on the margin you will have higher participation and decisions that are more in line with that outcome. Show me the incentives and I will show you the outcome.
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Improves incentives for new ecosystem participants: Optimism is actively utilizing $OP tokens to incentivize ecosystem growth, both through future airdrops and allocations to ecosystem protocols for distribution. But if that $OP token is of minimal value, the incentive for users to move liquidity to $OP diminishes. L2’s will be an intensely competitive landscape where network effects (liquidity) are critically important for future growth. Creating a mechanism to enable $OP to accrue value is an important competitive lever for the ecosystem.
If we allocate 20% of profits to a buyback program and 80% to public goods, I ultimately believe we will be able to grow the ecosystem and fund more public goods than we otherwise would have, to the benefit of Optimism and the broader Ethereum ecosystem (would be good to put numbers around this assumption, of course).
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Thank you for the patience and calm in responding to posts like this. Very much appreciate your replies in this thread.
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There’s an interesting proposal gaining support which has burning OP tokens baked in
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