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Optimism vote reallocates 546.9M OP into a Foundation-controlled fund

The approved proposal was backed by 17.974M OP, and it flipped from sub-50% support to 61.8% after a decisive 8.486M OP vote.

Reported · Written up by our desk · Market Structure

CoinDesk reports that a core Optimism development team vote approved a contentious plan to move 546.9 million OP tokens, or 12.7% of total supply, from user airdrops to a Strategic Ecosystem Fund administered by the Optimism Foundation.

According to the report, the reallocation amounts to about $49.7 million worth of OP tokens, with the Foundation arguing the change is needed to support enterprise adoption and the growth of the OP Mainnet and Enterprise. The vote ended with 17.974 million OP in favor and 10.931 million against.

The proposal also turned on a late large vote, as delegate.testinprod-io.eth cast a decisive 8.486 million OP in support with minutes left, lifting approval to 61.84% from 45.77%. The report adds that without that vote, final approval would have been 46.47%, and quorum would otherwise have been met.

CoinDesk says the Foundation framed broad user airdrops as misaligned with its institutional adoption strategy, and proposed cumulative deployment reporting through its annual budget report. L2BEAT objected to what it described as open-ended authority and an unclear link to tokenholder value, while other researchers raised concerns about the lack of a review of earlier partnership spending.

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