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Optimism Foundation Secures $89M in Private Token Sale

Optimism Foundation

In a recent private transaction, Optimism Foundation successfully sold $89 million worth of OP Tokens to an undisclosed buyer. This sale involved approximately 19.5 million OP tokens, which will be subjected to a two-year vesting period. Notably, the tokens were sourced from the unallocated portion of the OP Token treasury designated for operational purposes.

Optimism Foundation, a key contributor to the development and maintenance of the Optimism network, executed this private token sale on Friday. The Optimism network operates as a blockchain platform facilitating transactions on Ethereum.

Under the terms of the sale, the purchased tokens will be locked up for two years. However, the buyer retains the option to delegate these tokens to external parties for engagement in governance activities, granting similar privileges as an unvested holder.

These tokens originated from the unallocated section of the OP Token treasury, constituting part of the foundation’s initial operational budget, which allocated 30% of the initial OP token supply. As of the recent transaction, the OP token’s circulating supply stood at 1 billion tokens, with a total supply of 4.29 billion.

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