Optimism Foundation’s Off-site Sale of 19.5 Million OP Tokens: Lock-up for Two Years, Buyer and Transaction Details Not Disclosed

Optimism Foundation's Off-site Sale of 19.5 Million OP Tokens: Lock-up for Two Years, Buyer and Transaction Details Not Disclosed

Optimism Foundation's Off-site Sale of 19.5 Million OP Tokens: Lock-up for Two Years, Buyer and Transaction Details Not Disclosed

According to information disclosed by the Optimism Foundation, the organization has sold approximately 19.5 million OP tokens to private institutions, with a value of approximately $90 million based on current market prices. These tokens will have a lock-up period of two years, and buyers will be allowed to delegate their tokens to unrelated third parties for governance during this period. However, due to the private nature of the transactions, specific terms and buyers cannot be disclosed.

The Foundation states that these tokens belong to the undistributed portion of the Ecosystem Fund and are part of the original budget of the Foundation’s work.

Additionally, the Foundation urges the community not to panic as there will be several transactions sending OP tokens in the next few days. These transactions are planned.