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ETH 
OP Optimism Governance approves proposal: reallocate 546.9 million OP tokens to support ecological development
Blockchain Optimism's governance body has approved a proposal to reallocate 546.9 million OP tokens previously reserved for user airdrops to support ecosystem growth and institutional adoption.
According to data, the current market value of OP is approximately US$214 million, and the circulation supply is approximately 2.29 billion pieces.
The newly established "Strategic Ecosystem Fund" will be used to support cooperation with chains, protocols and institutions, and to enhance the activity and liquidity of the OP main network through incentives, while promoting the development of OP enterprise-level applications.
The decision was opposed by some representatives, who believed the tokens should have been promised to users and questioned how the foundation would measure the fund's return. Proponents say it makes more sense to use this token to compete for enterprise-level transactions and drive growth.
Optimism said that after releasing 269.1 million OPs in five rounds of airdrops, there are currently no plans for more airdrops. It believes that airdrops are more suitable for the early stage of focusing on extensive user acquisition than the current period of focusing on institutional promotion.
Optimism is an expansion project of Ethereum (ETH) that provides support for the OP mainnet and OP Stack. OP Stack is a blockchain framework used by networks such as Base, Unichain, Kraken's Ink, and Sony's Soneium. According to the project, there are currently more than 30 OP Stack chains contributing revenue to Optimism.
OP rebounded 11%, but still fell 93% from its all-time high
On Thursday, OP traded at around $0.09, rising about 11% in the past 24 hours, helped by the overall rebound in the cryptocurrency market. Despite the rebound, the token is still down more than 93% from its all-time high.
At current prices, the allocation value of the 546.9 million tokens is approximately US$50 million, which is equivalent to nearly a quarter of the token's approximately US$211 million market value.
In July, it was reported that the blockchain had signed a memorandum of understanding with Viva Republica, operator of South Korea's mobile money transfer application Toss, planning to conduct a three-month proof-of-concept to test the Korean won-based stablecoin infrastructure for institutional payments.
