Optimism Foundation proposes monthly OP token buybacks
The Optimism Foundation proposed using 50% of Superchain revenue for monthly OP token buybacks to align the token with network growth.Summary
The Optimism Foundation has put forward a proposal to institute a monthly buyback program for its OP token, aiming to align it with the growth of the Superchain—the network of Ethereum Layer 2s built on the Optimism tech stack, which includes OP Mainnet and Base.
If approved, the plan would direct 50% of the Superchain's revenue toward monthly over-the-counter (OTC) token acquisitions. The foundation noted that the Superchain operates on a flywheel where usage generates revenue, which funds development, ultimately driving more usage, and this buyback mechanism ensures tokenholders benefit from this growth.
The purchased tokens will flow back into the token treasury, where they may be burned or distributed as staking rewards. Governance will maintain oversight, with the potential for the mechanism to become fully on-chain later. Buybacks are conditional, requiring monthly revenues above $200,000 and favorable OTC execution fees. This move follows criticism that OP token holders do not directly share in the protocol's success.
(Source：The Block)