The layer 2 scaling solution, Optimism announced the launch of OP Stimpack, a funding for projects on Optimism. The firm also revealed the establishment of a $231 Million Public Offering and an airdrop for builders.
This is the first formal action of the Token House. As per the announcement, 5.4% of the token supply (231,928,234 OP) will also be spent on old Optimism projects along with new ones through the Governance Fund.
The Governance Fund will be rolled out in two phases, Phase 0 and Phase 1.
The news comes after Optimism announced the launch of a DAO, ‘Optimism Collective’ and the entire season of airdrops of their token.
Phase 0 will run for 3 weeks and will reward early movers in the OP ecosystem who have demonstrated growth through a straightforward set of on-chain criteria. Thus, it would reward those who took the early risk by trusting in Optimism and a sustainable future for Ethereum.
Additionally, OP-native projects will have a 3x multiplier on their Phase 0 allocation.
Eligible projects can thus release a proposal with their distribution plan on the governance forum.
On the other hand, Phase 1 is for any project that is compatible with the Optimistic Vision and can show a clear plan for using OP to boost future project growth on Optimism to the Token House.
Any project can submit a proposal requesting any amount of OP tokens after Phase 0 is done. Phase 1 proposals empower the Token House to determine which projects and communities they want to support as the ecosystem grows.
It is worth mentioning that the number of OP tokens a project can claim will be determined by the project’s TVL and also the daily transaction volume. This will be determined before the funds are made open to projects that meet the Optimistic Vision.
