Optimism-based projects spike on rumors of token airdrop

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Optimism-based projects spike on rumors of token airdrop

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 group.

Optimism is a Layer 2 scaling answer that makes use of Optimistic rollups to course of a excessive quantity of transactions off the Ethereum blockchain. The undertaking touts that it might function sensible contracts 5 to 500X cheaper than Ethereum’s Layer 1.

In accordance with DeFiLlama, the platform presently accounts for $496.47 million value of whole worth locked (TVL) from 30 completely different tasks that use it to scale such as Synthetix (SNX), UniSwap (UNI), Stargate Finance (STG) and Perpetual Protocol to call just a few.

The rumors of a potential token distribution to customers of the associated tasks began to swirl on Twitter earlier at this time after Optimism published a weblog put up titled “A New Chapter” which recapped the undertaking’s efficiency since its launch early final yr, together with outlining its plans transferring ahead.

The crew highlighted notable milestones over the previous 12 months reminiscent of $17.4 billion value of transaction quantity, $24.5 million value of income and saving $1.1 billion worth of gas fees.

Whereas Optimism didn’t immediately state something about launching or airdropping a local token, onlookers highlighted the final part of the put up which outlines a brand new stage of improvement that shall be pushed by the group:

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

Commenting on the wording of the put up, self-described “grasp airdrop hunter” “OlimpioCrypto” suggested to their 7,164 Twitter followers that SNX is perhaps the token to regulate for potential airdrops, as Synthetix was the primary protocol to begin working with Optimism.

“Group at Optimism began working with Synthetix earlier than some other protocol. $SNX holders, there is perhaps a deal with for you. Holding tokens staked is perhaps the play,” they wrote.

An identical account in “defi_airdrops” additionally pointed to different common tasks on Optimism reminiscent of Hop Protocol, Lyra Finance and the Polynomial Protocol.

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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.

In accordance with knowledge from Coingecko, SYN is up 26.2% to sit down at $3.37, SNX is up 21.5% to $6.18 and LYRA has gained 18.4% to succeed in $0.24.

Wanting again at DeFi Llama, Synthetix — which is the biggest platform on Optimism — has seen its TVL achieve 13.4% over the previous 24 hours to high roughly $203.3 million, suggesting that so traders could also be dashing to stake SNX in anticipation of an announcement from Optimism.