Token Sale — March 2024

An update to the community:

Optimism has entered into a private token sale of approximately 19.5M OP tokens. The tokens are subject to a two-year lockup. During the lock-up, the purchaser will be able to delegate the tokens to unaffiliated third parties for participation in governance.

The tokens come from the Unallocated portion of the OP Token treasury, and are part of the Foundation’s original working budget of 30% of the initial OP token supply. As always, public tracking of OP token supply is available here.

Over the next few days, there will be several transactions to send the OP. These are all planned transactions and we’re sharing a heads up to keep the community informed.

As this was a private sale, the terms and purchaser are not able to be disclosed.


Not able to be disclosed ? Honestly this feels a bit shady for a supposedly transparent DAO. How much of OP is actually being governed by OP token holders? Maybe I just have the wrong impression of what OP is supposed to be.


So what will this mean for the price? What is the rate the token was sold? What are your thoughts?

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Hello, @system
I know that you can sell any of funds in from the Unallocated portion of the OP Token treasury.
But our community may know at what discount the tokens were sold.
As I understand it, you will still be making a report on the tokens sold and where they were spent until April 19, 2024, when the 2nd year of your work ends.

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Hi, @cp0x-AlexQ !

Could you please share where is the April 19t 2024 date came from?
Is there any whitepaper or roadmap?
I unfortunately couldn’t find one …

It’s from previous report/proposal

@cp0x-AlexQ, thank you for the link.
Now I understand where April 19th came from.
I looked through the post and didn’t find any information about OP prices for that time. All the budget spending is measured in OP.

So, why do you believe, that the information about this March token sale price will(should?) be enclosed?

And actually why do you think it’s important? Because these tokens will be blocked for 2 years and it’s only 2+% of circulatin tokens.

You are right, but when the report comes, I will ask this question there:
Where did the money from the sale of tokens go, and for what?

What price was the sale at? Where will this money received upon sale will be used for?

Sounds like it was a16z


Does it mean that the price for this private token sale was

So a16z is now into “Public Goods Funding”, I am speechless, we will see how it evolves… :upside_down_face: