$89 Million Paid in Private Transaction for Optimistic OP Tokens
Private Token Sale of 19.5 Million OP Tokens by Optimism Foundation
The Optimism Foundation, a key contributor to the development and maintenance of the Optimism network, has recently announced the sale of approximately 19.5 million OP tokens to an undisclosed buyer. This transaction, which is estimated to be worth $90 million based on current market prices, was made through a private token sale.
The sold tokens, which were previously part of the unallocated portion of the OP Token treasury, were set aside for working capital. The foundation has stated that these tokens will be subject to a two-year lockup period, during which the buyer will have the option to delegate the tokens to unaffiliated third parties for participation in governance decisions.
The Purpose of the Sale
This private token sale is part of the foundation’s original working budget, which accounts for 30% of the initial supply of OP tokens. As of now, there is a circulating supply of 1 billion tokens and a total supply of 4.29 billion tokens.
How Will the Sale Affect OP Token Prices?
In the past 24 hours, prices of OP tokens have decreased by 0.4%, while The CoinDesk 20, a comprehensive index of various tokens, has increased by 2.59%. It will be interesting to see how this sale impacts OP token prices in the long term.
This sale is significant as it reflects the growing adoption and demand for OP tokens, as well as the emerging potential of the Optimism network. As always, these developments are subject to change and are highly dependent on market fluctuations. Stay tuned for more updates on OP token prices and the progress of the Optimism network.
