Optimism-based tasks spike on rumors of token airdrop

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The native token costs from a number of tasks that make use of Ethereum layer-2 scaling answer Optimism have spiked round 20% amid rumors that the community will quickly launch a token and airdrop it to the neighborhood.

Optimism is a layer-2 scaling answer that makes use of Optimistic Rollups to course of a excessive quantity of transactions off of the Ethereum blockchain. The undertaking touts that it could possibly function sensible contracts five- to 500-times cheaper than Ethereum’s layer 1.

Based on DefiLlama, the platform presently accounts for $496.47 million value of complete worth locked (TVL) from 30 totally different tasks that use it to scale similar to Synthetix, UniSwap, Stargate Finance and Perpetual Protocol, to call a couple of.

The rumors of a attainable token distribution to customers of the associated tasks began to swirl on Twitter earlier in the present day after Optimism published a weblog submit titled “A New Chapter,” which recapped the undertaking’s efficiency since its launch early final yr together with outlining its plans shifting ahead.

The staff highlighted notable milestones over the previous 12 months similar to $17.4 billion value of transaction quantity, $24.5 million value of income and saving $1.1 billion value of gasoline charges.

Whereas Optimism didn’t instantly state something about launching or airdropping a local token, onlookers highlighted the final part of the submit, which outlines a brand new stage of growth that can be pushed by the neighborhood:

“The community has grown by leaps and bounds, and it’s solely getting higher by the day. Our child has discovered to stroll, and it’s almost time to run. We’re nearing the tip of a chapter and the start of the subsequent––one pushed by neighborhood possession and governance.”

Commenting on the wording of the submit, self-described “grasp airdrop hunter” “OlimpioCrypto” suggested to their 7,164 Twitter followers that Synthetix (SNX) could be the token to control for potential airdrops, as Synthetix was the primary protocol to begin working with Optimism.

“Crew at Optimism began working with Synthetix earlier than every other protocol. $SNX holders, there could be a deal with for you. Maintaining tokens staked could be the play,” they wrote.

The same account known as “defi_airdrops” additionally pointed to different fashionable tasks on Optimism similar to Hop Protocol, Lyra Finance and the Polynomial Protocol.

Associated: Ethereum Merge a ‘few months after’ June: Dev clears up what’s occurring

Whereas not all the tokens associated to Optimism are pumping, over the 24 hours SNX, Lyra Finance (LYRA) and Synapse (SYN) have all seen substantial will increase in worth.

Based on knowledge from CoinGecko, SYN is up 26.2% to take a seat at $3.37, SNX is up 21.5% to $6.18 and LYRA has gained 18.4% to achieve $0.24.

Wanting again at DefiLlama, Synthetix — the most important platform on Optimism — has seen its TVL achieve 13.4% over the previous 24 hours to prime roughly $203.3 million, suggesting that traders could also be speeding to stake SNX in anticipation of an announcement from Optimism.


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