Optimism's Year 5 Supply Schedule to Unleash 343M OP Tokens
The Optimism Foundation has announced that 342.9 million OP tokens will enter circulation between May 2026 and April 2027, expanding the liquid supply to 2.504 billion OP, roughly 58.3% of the total 4.29 billion cap.
This increase represents almost 15% more supply becoming tradable inside twelve months, which may test the organic demand for the token beyond airdrops and incentive campaigns.
The largest portion of the tokens, 200 million OP, will likely flow into grants, liquidity incentives, and developer bounties over the course of Year 5. This category tends to get recirculated into protocols and users rather than being dumped outright.
However, grant recipients and projects do eventually convert portions to stablecoins to cover costs, which may add to sell-side pressure in a sideways market.