coin-img-ETHETH-1.21%coin-img-BTCBTC-1.05%coin-img-SPACECOINSPACECOIN-9.85%coin-img-SOLSOL-2.69%coin-img-XRPXRP-0.98%coin-img-HYPEHYPE-1.38%coin-img-USDCUSDC+0.01%coin-img-DOGEDOGE-1.40%coin-img-ETHETH-1.21%coin-img-BTCBTC-1.05%coin-img-SPACECOINSPACECOIN-9.85%coin-img-SOLSOL-2.69%coin-img-XRPXRP-0.98%coin-img-HYPEHYPE-1.38%coin-img-USDCUSDC+0.01%coin-img-DOGEDOGE-1.40%coin-img-ETHETH-1.21%coin-img-BTCBTC-1.05%coin-img-SPACECOINSPACECOIN-9.85%coin-img-SOLSOL-2.69%coin-img-XRPXRP-0.98%coin-img-HYPEHYPE-1.38%coin-img-USDCUSDC+0.01%coin-img-DOGEDOGE-1.40%coin-img-ETHETH-1.21%coin-img-BTCBTC-1.05%coin-img-SPACECOINSPACECOIN-9.85%coin-img-SOLSOL-2.69%coin-img-XRPXRP-0.98%coin-img-HYPEHYPE-1.38%coin-img-USDCUSDC+0.01%coin-img-DOGEDOGE-1.40%

Optimism Governance Approves 12-Month Plan to Use 50% of Superchain Sequencer Net Revenue for OP Token Buybacks

Optimism governance approved a proposal on Jan. 29 to allocate 50% of Superchain sequencer net revenue to periodic OP token buybacks during a 12-month pilot starting in February, with the remaining income continuing to fund ecosystem grants, projects and operations, BlockBeats reports. Data from the Optimism on-chain governance portal show the proposal passed with 84.4% support after several days of debate among delegates and token holders, marking the first formal attempt by Optimism to tie OP demand to activity across the entire Superchain network built on OP Stack, including OP Mainnet, Base, Unichain, World Chain, Soneium and Ink. At the time of writing, OP's market cap stands at $583 million, 87.6% below its all-time high, with the token trading at $0.3, a 93.8% decline from its peak.
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