Optimism

As an OP token holder, you can take part in governance by voting for or against proposals, or by delegating your vote to another wallet. 

First you should find a relevant open proposal in the Optimism Agora and inform yourself about what is being proposed. To cast your vote, connect your wallet and set up a Delegate Statement, a profile that describes your stance on certain issues. This is publicly viewable by any other network user who may want to delegate their OP voting power to you. 

Optimism Collective governance is split into two groups, the Token House and the Citizens’ House. OP holders belong to the Token House, and can participate in various types of Optimism Collective governance proposals as outlined above. The Citizens’ House is populated by badgeholders who participated in RetroPGF rounds, and oversee the RetroPGF process.

Delegating your OP token votes to another wallet is done through the Optimism Agora. Before you delegate, you should understand that doing so will prevent you from using your tokens to vote by yourself. 

To delegate tokens, visit the Optimism Agora voters page and connect your wallet. You can browse individual voters’ profiles to inform yourself of their voting convictions by reading their Delegate Statement. Then click Delegate on whomever you want to delegate your votes to. Confirm the transaction to complete delegation.

Optimism token is native to OP Mainnet though it has also been bridged to Ethereum. Only native OP tokens on OP Mainnet can be used to vote for ecosystem governance proposals. 

OP Mainnet is the primary blockchain and the native home of Optimism token. Optimism is used to refer to the wider decentralized Optimism ecosystem which includes multiple blockchains and organizations. OP Mainnet uses Optimistic Rollups to bundle transactions, reducing congestion and costs on the Ethereum network. This type of Layer-2 network assumes transactions are valid until proven otherwise, with a seven-day window for challenging any disputes. 

OP Mainnet is built using the OP Stack, open-source tooling that allows for the creation of other interoperable Layer 2 chains that share security and development frameworks. This has been used to create new blockchains, resulting in a composable, unified network collectively known as the Optimism Superchain. Chains which are part of the superchain, including Base, Zora, and more, leverage the standardized modules of the OP Stack to benefit from shared upgrades, tools, funding opportunities and cross-collaboration across the Superchain.

The Optimism Collective is Optimism’s decentralized governing body, comprising communities, companies, and individuals who hold OP token. Optimism token was announced at the same time as the Collective, and released through a series of airdrops that rewarded Ethereum users as well as builders within the Optimism ecosystem.

As well as the Collective, there exists an Optimism Foundation, presented as a temporary steward of the Collective whose role is to oversee governance experiments.

Optimism token is a governance token, a type of token that is used to enable decentralized participation in the running of the network, by allowing holders to vote on proposals for network upgrades and other activity related to development.

OP token launched on April 26, 2022 through a series of airdrops to users of and contributors to the Optimism ecosystem.

25% of the OP token supply is allocated to an Ecosystem Fund, which supports development within the Collective ecosystem through various sub-funds. 20% is dedicated to RetroPGF, an initiative to fund public goods that have benefited the Optimism ecosystem.

19% is dedicated to user airdrops, of which 4 have completed since OP token first launched. A further 19% is allocated to Core contributors and 17% were set aside to investors, with a lock up period.

The total supply of OP tokens was originally subject to an annual inflation rate of 2%, though this rate can be adjusted through governance.