Optimism Token Jumps 11% as Governance Shifts Focus to Institutional Partnerships

Optimism's token price surged by almost 11% after the governance body approved the transfer of 546.9 million OP tokens to a Strategic Ecosystem Fund.

The fund, valued at approximately $50 million, will focus on ecosystem development instead of airdrops, marking a shift towards institutional partnerships and protocol growth.

The Optimism Foundation has confirmed that no further airdrops are planned, with the transferred funds allocated to support chain integrations, institutional collaborations, and liquidity programs.