Optimism Foundation Proposes 50% Revenue for OP Token Buybacks

The Optimism Foundation has proposed a governance plan to initiate OP buybacks, utilizing 50% of the Superchain's revenue. A vote is scheduled for January 22, with potential implementation in February.

This proposal aims to enhance OP's utility from a governance token to one benefiting from Superchain expansion.
The Superchain, comprising several L2 chains, contributes sequencer revenue to Optimism.
Over the past year, this mechanism added 5,868 ETH to Optimism's treasury.
If approved, 50% of future revenue will fund monthly OP purchases, potentially leading to burning or staking rewards.
The remaining 50% of ETH remains under foundation management for yield generation or ecosystem investments.

Community feedback shows support for aligning OP with Superchain growth. Notably, OP currently processes 13% of all blockchain transactions and holds 61.4% of the L2 fee market share.

Concerns were raised about addressing token unlocks, suggesting commitments to re-locking or burning allocations as follows:

Governance fund: 113.46 million OP
User airdrops: 546.93 million OP
Retro fund: 777.59 million OP
Partner & seed fund: 247.33 million OP

This move aligns with trends seen in other protocols, such as DYDX and ether.fi, adjusting token economics for enhanced alignment.

Optimism benefits from the Superchain's performance, despite OP's poor ranking among major tokens in 2025, highlighting a divergence between network success and token valuation.