Optimism Foundation Allocates Half of Superchain Revenue to OP Token Buybacks

The Optimism Foundation has approved a proposal to allocate 50% of Superchain revenue toward buybacks of OP tokens over the next 12 months. The move aims to tie the value of OP more directly to network performance, as stated by executive director Bobby Dresser.

The proposal was submitted on January 8 and passed with 33.27% of votes in favor, 3.23% against, and 3.95% abstaining. Under the new structure, Optimism will partner with an over-the-counter provider to execute monthly conversions of ETH to OP.

Last year's Superchain revenue would have directed roughly 2,700 ETH toward buybacks, or approximately $8 million in OP at current prices. The accumulated tokens could be used for burning, funding ecosystem expansion, or rewarding network security participants.