Optimism Buyback Slashes Purchases by 87% as Token Supply Grows

The Optimism buyback program has seen significant reductions in its purchases over the past month. In March, Optimism bought 6.95 million OP tokens using up to half of Superchain revenue, but this figure fell to just 926,000 OP in April, representing an 87% decrease.

This decline in purchases is a concern for Optimism as the buyback program is currently its main source of demand for OP. According to the Foundation, about 216 million tokens are still set to enter the market before April 2027, which would be worth roughly $19.7 million at current prices.

The Foundation stated that it will re-evaluate the buyback program after its first 12 months and may consider adjusting or ending it. The program is designed to run for one year and has already seen a significant drop in purchases.