Optimism-based projects spike on rumors of token airdrop

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Optimism-based projects spike on rumors of token airdrop

“We’re nearing the end of a chapter and the beginning of the next — one driven by community ownership and governance,” noted Optimism.

The native token prices from multiple projects that employ Ethereum layer-2 scaling solution Optimism have spiked around 20% amid rumors that the network will soon launch a token and airdrop it to the community.

Optimism is a layer-2 scaling solution that utilizes Optimistic Rollups to process a high amount of transactions off of the Ethereum blockchain. The project touts that it can operate smart contracts five- to 500-times cheaper than Ethereum’s layer 1.

According to DefiLlama, the platform currently accounts for $496.47 million worth of total value locked (TVL) from 30 different projects that use it to scale such as Synthetix, UniSwap, Stargate Finance and Perpetual Protocol, to name a few.

The rumors of a possible token distribution to users of the related projects started to swirl on Twitter earlier today after Optimism published a blog post titled “A New Chapter,” which recapped the project’s performance since its launch early last year along with outlining its plans moving forward.

The team highlighted notable milestones over the past 12 months such as $17.4 billion worth of transaction volume, $24.5 million worth of revenue and saving $1.1 billion worth of gas fees.

While Optimism didn’t directly state anything about launching or airdropping a native token, onlookers highlighted the last section of the post, which outlines a new stage of development that will be driven by the community:

Related: Ethereum Merge a ‘few months after’ June: Dev clears up what’s going on

While not all of the tokens related to Optimism are pumping, over the 24 hours SNX, Lyra Finance (LYRA) and Synapse (SYN) have all seen substantial increases in value.

According to data from CoinGecko, SYN is up 26.2% to sit at $3.37, SNX is up 21.5% to $6.18 and LYRA has gained 18.4% to reach $0.24.

Looking back at DefiLlama, Synthetix — the largest platform on Optimism — has seen its TVL gain 13.4% over the past 24 hours to top roughly $203.3 million, suggesting that investors may be rushing to stake SNX in anticipation of an announcement from Optimism.

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