Optimism repurchases OP tokens with 50% of revenue to boost the value of the super chain ecosystem

January 30 News, the Optimism Blockchain Governance Committee officially approved a proposal to allocate 50% of all Superchain revenue for the repurchase of OP tokens over the next 12 months, with the repurchase program set to begin in February. The proposal was initially submitted by the Optimism Foundation on January 8, aiming to enhance the utility of the OP token and closely tie its value to the success of the Superchain. Voting results from the governance community showed 33.27% in favor, 3.23% against, and 3.95% abstaining, and the proposal was successfully passed.

Superchain consists of multiple Layer 2 chains based on the open-source Optimism technology stack, including Soneium, Unichain, Ink, and Base. It generates Ethereum (ETH) revenue through sequencer income contributed by these L2 chains. As part of the buyback plan, Optimism will collaborate with over-the-counter trading service providers to convert ETH into OP tokens monthly and deposit them into the treasury. Based on last year’s Superchain revenue estimates, the plan is expected to utilize approximately 2,700 ETH, equivalent to about $8 million, for OP repurchases.

The Optimism Foundation stated that the accumulated OP tokens can be used for token burning, ecosystem expansion funding, and rewarding participants who help maintain network security. Bobby Drechsel, Executive Director of the Foundation, said this proposal is “an important step in expanding the role of the OP token,” and the buyback plan will more tightly bind the token’s value to the performance of the Superchain ecosystem.

Although the buyback plan has been approved, the OP token price has not shown a significant increase in the short term. CoinGecko data indicates that in the past 24 hours, OP has decreased by approximately 1.9%, with a trading price of $0.26. Market analysts believe that as the buyback plan is gradually implemented and Superchain revenue stabilizes, OP tokens are expected to establish new value support levels in the future, while also boosting investor confidence.

This buyback plan marks a proactive exploration by Optimism in token economic design and ecosystem development, and also demonstrates that Layer 2 projects are gradually maturing in using financial mechanisms to enhance token value.