Vitalik Buterin, the founder of Ethereum, has backed a proposal to change the use of OP tokens from a governance token to a major network token for gas payments.
Buterin said in his recent tweets:
“This is a great example of why I’m so proud of @optimismPBC for adding non-token governance (the Citizen House). Optimism explicitly has goals *other* than just “make OP go up”, and the only way to do that long-term is with explicit representation of non-token-holder interests”.
The Ethereum founder also shared links to a previous blog post in which he discusses how Decentralized Governance (DeGoV) is both necessary and hazardous. He also goes through the steps that can be taken to reduce the risks in DeGov.
Optimism price plummets amid launch anticipation
Ethereum’s Layer-2 scalability solution Optimism (OP) launched its governance Token. Optimism’s governance tokens earlier this week. However, the OP token price plummeted by more than 60% in the highly anticipated debut.
Token House and Citizen House are the two hubs of optimism. OP governance tokens are supported by the Token House portal, allowing holders to vote on various Optimism-centric projects. The Citizen House focuses on non-governance activities like distributing retroactive public goods from the fees generated by the Optimism network.
On Tuesday, Optimism airdropped a few OP tokens. However, it failed to anticipate the massive demand, resulting in a high network load. Several users experienced extended delays in receiving the airdrop, resulting in OP tokens being dumped.
Some Optimism users also expressed frustration that some parties were able to claim tokens before others. Some reported that the website changed its status to being “ineligible” despite being eligible earlier.
Optimism has finally managed to solve the network loading problems. Furthermore, it has issued a warning to users, stating that in the aftermath of the recent incidents, a large number of Optimism scam accounts have appeared.
