Optimism Foundation’s Confidential 89 Million Dollars OP Token Sale Sparks Speculation

Crypto News- Optimism Foundation, the backbone of Ethereum’s Layer 2 project Optimism, has discreetly inked a deal to offload around 19.5 million governance tokens, netting a staggering $89 million in today’s market climate.

Shrouded in secrecy, the specifics of this private sale, including the enigmatic buyer, remain veiled from public scrutiny.

While the tokens are slated for a two-year lockup period, allowing the purchaser to wield considerable influence by delegating tokens for governance decisions, the buyer’s identity remains a mystery.

Optimism Foundation’s Confidential 89 Million Dollars OP Token Sale Sparks Speculation

The foundation clarified that these tokens stem from the unallocated segment of the OP token treasury, earmarked as part of the foundation’s initial budgeting strategy, constituting 30% of the initial OP token supply.

In a bid to assuage concerns, Optimism disclosed forthcoming transactions associated with this private sale.

This isn’t the foundation’s maiden foray into private token sales. In September 2023, it orchestrated a sale of 116 million OP tokens, fetching over $160 million. However, this latest revelation hasn’t resonated universally positively within the Ethereum community.

Anthony Sassano, the founder of The Daily Gwei, lamented the lack of transparency surrounding such private transactions, expressing disdain on social media. Meanwhile, another user humorously remarked, “It’s not dumping if it’s a private sale. Right?”

Despite the skepticism, Optimism’s OP token has managed to eke out a modest 3% gain in the past 24 hours, as reported by The Block’s market data.