Optimism-based projects 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 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 mission touts that it might probably function good contracts 5 to 500X cheaper than Ethereum’s Layer 1.

In keeping with DeFiLlama, the platform at present accounts for $496.47 million price of whole worth locked (TVL) from 30 totally different tasks that use it to scale such as Synthetix (SNX), UniSwap (UNI), Stargate Finance (STG) and Perpetual Protocol to call a couple of.

The rumors of a doable token distribution to customers of the associated tasks began to swirl on Twitter earlier right this moment after Optimism published a weblog put up titled “A New Chapter” which recapped the mission’s efficiency since its launch early final 12 months, together with outlining its plans transferring ahead.

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

Whereas Optimism didn’t straight 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 might 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 practically time to run. We’re nearing the tip of a chapter and the start of the following––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 likely to be the token to regulate for potential airdrops, as Synthetix was the primary protocol to begin working with Optimism.

“Staff at Optimism began working with Synthetix earlier than every other protocol. $SNX holders, there is likely to be a deal with for you. Conserving tokens staked is likely to be the play,” they wrote.

An analogous account in “defi_airdrops” additionally pointed to different standard tasks on Optimism similar to 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 keeping with information 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 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 prime roughly $203.3 million, suggesting that so buyers could also be speeding to stake SNX in anticipation of an announcement from Optimism.