Optimism is a L2 Ethereum scaled, low cost and lightning fast blockchain that aims to be fully decentralized, open source, secure and scalable. The platform went live just a few hours ago with a huge air drop. Within a very short time after launch, the transaction count peaked at 12 TPS per hour, consuming less than 5% of gas compared to Ethereum.
It should be noted, however, that these metrics are in line with less than 50% of Phase 1 of the air-dropped claim, while a wider retrospective is planned for next week on drop day. On the other hand, Remote Procedure Calls (RPCs) also hit an ATH of around 20,000/sec. The rounds of users claiming tokens before the air droplets spread within the space, between the droplets of air. This caused a lot of panic within the community which disrupted the rally for some time.
Therefore, OP price which started its trade above $1.6 declined over 38% but remained strong above $1. Frustrated with the drop within hours of the drop, some in the community submitted a proposal. According to this proposal, traders selling tokens of the initial airdrop received out of optimism will be barred from further governance-related activities.
However, many disagreed with the proposal, and all went in vain, when the price of optimism took a broader rally and rose by more than 30% after a brief consolidation. OP’s price is currently hovering around $1.39 with a jump of 7.21%, while the total supply of the coin is above 4 billion at press time.