[DigitalToday reporter Chi-gyu Hwang] The Optimism Foundation has proposed buying back OP tokens using 50 percent of Superchain revenue, CoinDesk reported on Wednesday. The item will be put to a governance vote on Jan. 22.
If the proposal passes, Optimism plans to carry out monthly buybacks from February using sequencer fee revenue generated by blockchains built on the OP Stack.
OP Stack-based blockchains include Coinbase's Base, Uniswap's Unichain and Sony's Soneium. The OP token has fallen 54 percent over the past three months and 83 percent over the past year.
Optimism has secured revenue of 5,868 ether from Superchain, all of which flowed into a token governance treasury. Under the new proposal, Optimism would use half of future revenue inflows to purchase OP tokens. Depending on governance decisions, the purchased tokens could be burned or used for staking rewards.
Chi-gyu Hwang
delight@d-today.co.kr