Optimism Allocates $3.3 Billion for Ecosystem Builders

Optimism, a layer-2 scaling solution for Ethereum, has allocated $3.3 billion worth of its native token, OP, for grants to support builders and projects within its blockchain ecosystem. The funding, consisting of 850 million OP tokens, will be distributed over four rounds starting in May and continuing through 2024. This initiative, managed by the Optimism Collective, aims to incentivize contributions to the blockchain's infrastructure and development.

Bobby Dresser, the chief operating officer of the Optimism Foundation, disclosed that the allocated tokens represent 20% of the initial OP token supply, with a portion already distributed across three previous rounds. The upcoming rounds will focus on retroactive public goods funding (RPGF), rewarding contributors based on demonstrated value to the community. Subsequent rounds will target infrastructure, governance, and development tooling contributors.

Retro funding is a novel approach within the crypto space, aiming to support projects and individuals who contribute to the ecosystem without traditional profit motives. Previous recipients include data aggregators, token approval tools, and blockchain analysts. Ethereum co-founder Vitalik Buterin praised Optimism's commitment to public goods funding, expressing hope for similar initiatives in the future.

Source: Cointelegraph

In a reversal from yesterday's downtrend, both Bitcoin and Ether witnessed an increase in trading volume today. Bitcoin futures maintained a higher short ratio compared to Ether, which exhibited a higher long ratio, indicating differing market sentiments between the two tokens. Despite the surge in trading volume, both Bitcoin and Ether futures experienced a decrease in open interest, signaling potential shifts in market dynamics or existing contracts being closed more than new ones being opened.

Total BTC Open Interest: $37.99B (-0.19%)

BTC Volume (24H): $99.30B (+20.42%)

BTC Liquidations (24H): $41.23M (Long)/$33.97M (Short)

Long/Short Ratio: 49.57%/50.43%

Funding Rate: 0.0368%

Total ETH Open Interest: $13.73B (-2.56%)

ETH Volume (24H): $37.78B (+15.79%)

ETH Liquidations (24H): $32.37M (Long)/$10.58M (Short)

Long/Short Ratio: 50.59%/49.41%

Funding Rate: 0.0387%

 

VELO: $2.39M (+108.00%)

VENOM: $3.58M (+105.21%)

ALPACA: $1.72M (+86.11%)