Optimism, a Layer 2 network nestled atop Ethereum, has once again delighted its community with a generous airdrop.
On this occasion, they’ve allocated $26 million worth of OP tokens to 31,870 addresses that are actively engaged in their DAO, known as the Optimism Collective.
This latest airdrop is part of Optimism’s ongoing efforts to boost user engagement on their Layer 2 network while simultaneously rewarding their dedicated participants.
The average reward for lucky recipients was 600 OP tokens, equivalent to around $840. However, the actual reward amount varied depending on specific criteria determined by the Optimism team.
For those unfamiliar, Optimism is a Layer 2 solution built to enhance the scalability of decentralized applications on the Ethereum network, employing optimistic rollup technology.
So, how were these rewards calculated? Well, it’s a bit of math. They considered the number of OP tokens a user had delegated and multiplied it by the duration for which they held these tokens.
To be eligible for this windfall, users needed to meet a minimum threshold of 18,000 units, which was calculated as (OP tokens delegated x days), with a six-month eligibility window spanning from January 20 to July 20.
If a user delegated a minimum of 180 OP tokens for over 100 days within this period, they qualified.
Now, here’s where it gets even more interesting. Those Optimism users who actively participated in at least one on-chain proposal during the eligibility period received a 2x multiplier for their rewards.
However, to keep things fair, rewards were capped at 10,000 OP tokens for each address.
This third airdrop from the Optimism Collective follows their previous distribution of funds from their first airdrop, which took place in May 2022.
They ensured that the remaining funds from this initial airdrop were sent directly to eligible addresses that hadn’t claimed their rewards yet.