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What is Optimism? Overview of the Optimism project and the OP . token
- Overview of the project Optimism
- The problem of Ethereum
- What is Optimism?
- Outstanding Features of Optimism
- Ecosystem Optimism
- The infrastructure
- Bridge
- Dapp
- Wallet
- NFT
- Portfolio tracker
- Project development roadmap
- Development team
- Investors
- About Optimism Collective
- About OP token
- Token OP
- OP Token Airdrop Program
Overview of the project Optimism
The problem of Ethereum
Ethereum has rapidly grown to become the second largest cryptocurrency by market capitalization, largely thanks to its support for smart contracts. It is known that smart contracts are the foundation for the development of decentralized applications (Dap) and the field of decentralized finance (DeFi).
But the problem that Ethereum has not solved until now is slow transactions and high transaction fees. And that's why Layer 2 projects like Optimism were born.
What is Optimism?
Optimism is a Layer 2 scaling solution, capable of scaling transaction and computational throughput on the Ethereum network at a reasonable cost.
Optimism uses a technique known as Optimistic Rollup. Accordingly, multiple transactions will be “rolled up” into one transaction, resolved on another blockchain, and the results will be returned to the main Ethereum blockchain.
Optimism allows Ethereum developers to reuse all existing tools on Ethereum with little or no change in the code. This creates a huge advantage for developers who are used to developing applications on Ethereum. Thereby, it is possible to deploy projects on Optimism without any problems.
Outstanding Features of Optimism
- Fast transaction time: It can be said that Optimism almost instantly executes transactions and confirms transactions immediately.
- Low transaction costs: only 1%-10% of transactions on Layer 1.
- Decentralization: All transactions are posted to Layer 1 of the Ethereum network, while inheriting the security guarantees of Ethereum.
- Scalability and Dapp Building: Optimism can fully support EVM. Dapps running on Ethereum or EVM-compatible Dapps can simply run on Optimism.
Ecosystem Optimism
The Optimism ecosystem is growing day by day with many applications of different pieces being deployed. In this section we will explore some of the important pieces of the Optimism ecosystem.
The infrastructure
- Chainlink: This is the Oracle of Optimism with the function of providing data for Dapps on the ecosystem.
- Etherscan: This is Optimism's blockchain explorer that allows users to look up information about activity taking place on the network.
- OG Gnosis Multisig: Is an important piece of the infrastructure that allows creating multisig on the Optimism system.
- Infura: Provides API tools, Development has the ability to quickly connect to the Ethereum network and IPFS to develop next generation software.
- Alchemy: Removes the difficulties of hosting nodes, while providing professional developer tools.
- Get Block: Is a tool for developers.
- The Graph: Index Protocol on Optimism.
- Dune Analytic: Allows activity to be discovered on the Optimism network and also creates aggregators.
- Rarai Capital: Provides a decentralized and trusted solution for messaging.
- Quicknode: Provides API gateway and user-friendly control interface for them to easily access Optimism.
In addition, we can mention a number of other projects also in the Optimism ecosystem such as Tenderly, Sourcify, etc.
Bridge
- Optimism Gateway: A bridge that allows users to transfer ETH from Ethereum to Optimism.
- Hop Exchange: Users can transfer tokens like ETH, USDT, USDC, DAI from Ethereum, Arbitrum, xDAI, Polygon to Optimism or withdraw easily.
- Teleport: Users can instantly teleport ETH to Optimism for a fraction of the cost.
- Celer Bridge: This is a cross-chain that can connect to Ethereum, BSC, Polygon, xDai, Avalanche, Fantom…
In addition, some projects of the Bridge puzzle on the Optimism ecosystem can be mentioned such as Via protocol, Connext...
Dapp
Currently, there are many Dapps operating on the Optimism ecosystem, specifically:
- Lyra: This is an options broker AMM built on Optimism.
- Synthetix: This is one of the first applications to work on the Optimism ecosystem. Synthetix is an Ethereum-based derivative liquidity protocol for issuing and trading synthetic assets.
- Kwenta: This is the app that allows the exchange of real world assets and derivatives built on Synthetix.
In addition, it is impossible not to mention other familiar Dapps on Optimism such as: Unisswap, Rubicon, 1inch, ...
Wallet
You can refer to some e-wallets to use and connect with Dapps in the Optimism ecosystem such as: Metamask, Coinbase, Rainbow, TokenPocket, DeBank, Zapper, Zerion, Trust Wallet, imToken, Rabby, Encrypted Ink...
NFT
Currently, NFT projects on the Optimism ecosystem are quite diverse. These include: Quixotic, OptiPunks, Optimistic Apes, Optimistic Bunnies…
Portfolio tracker
In the Portfolio tracker segment on the Optimism ecosystem, we can mention prominent names such as DeBank, Zapper, Nansen, KeyFi or Zerion...
Project development roadmap
- June 2019: Introducing Optimistic Rollup
- October 2019: Launching Optimistic Rollup PoC
- September 2020: Launching EVM Compatible Testnet
- January 2021: Launch of Alpha Mainnet
- August 2021: Launching EVM Equivalent Mainnet
- December 2021: Official launch of Mainet
- 2022: Launching the next generation of Fault Proof algorithm
- 2023: Split Rollup, launch Incentivized Verification and Decentralized Sequencer mechanisms.
- 2024: Fault Proofs adjusted on Layer 1.
Development team
Here are some important members of the Optimistic development team.
Founder: Liam Horne
- Graduated with a degree in computer science from the University of Waterloo.
- Having 8 years working for 2 blockchain companies as Co-founder: L4 and ETHGloba.
Co-Founder & CEO of Optimism: Jinglan Wang
- Previously held the role of CEO at technology company Plasma Group.
- During her time as a student, Ms. Jinglan Wang won blockchain competitions such as the Ben Global hackathon.
Co-Founder of Optimism: Kevin Ho
- Graduated from the University of Pennsylvania majoring in Computer Science.
CTO: Karl Florersch
- Graduated in Computer Science from Stony Brook University.
- Over 4 years of experience working in the crypto market as a blockchain engineer for ConsenSys and researcher for the Ethereum Foundation.
Investors
According to Crunchbase statistics in May 2022, Optimism received a total investment of 178.5 million USD after 3 rounds of funding. Funds invested in Optimism up to now, include: a16z, Paradigm, IDEO CoLab Ventures.
About Optimism Collective
Optimism Collective is a large-scale experiment in digital democratic governance. The model aims to promote the rapid and sustainable development of the decentralized ecosystem and is managed by the Optimism Foundation. Optimism Collective will be co-administered by two houses: Citizens' House and Token House.
Citizens' House
Citizens' House will facilitate and manage the process of using the project's funds to develop the ecosystem. Also join as non-transferable NFTs. Citizens' House can be understood as a vehicle that allows the distribution of power away from any centralized organization, to a human-centered, non-democratic mechanism.
Token House
Token House will be where users hold OP tokens to participate in voting on protocol upgrades, incentivize the project as part of the Governance Fund…
In addition, Optimism will establish the Optimism Foundation - the organization that acts as the manager of the Optimism Collective. Responsible for running governance tests and regenerating ecosystems before they decline. The Optimism Foundation will be led by two of Optimism's founders, Jing (formerly CEO) and Ben Jones (formerly Head of Research).
About OP token
Token OP
The OP token manages upgrades to the protocol and network parameters, and creates a continuous incentive system for projects and users in the Optimism ecosystem.
Optimism also announced the total initial OP supply of 4,294,967,296 tokens. Accordingly, the total supply is divided into 5 specific parts as follows:
OP tokens will be paid in 4 years, specifically as follows:
OP Token Airdrop Program
Optimism announced that there will be not only 1 airdrop of OP tokens, but also an entire season of airdrops. The first airdrop will be released directly in Q2 2022.
Accordingly, the Airdrop event closes on May 31, 2022 and has been prepared by many major exchanges to support. However, G has had many problems before. First, when the exchanges simultaneously announced to support OP on the evening of May 31 without official confirmation from Optimism, many users were able to find the smart contract of the token and send a claim to the token, receiving the OP sooner. the others.
It was not until the morning of June 1, that Optimism made an official announcement about the Airdrop event.
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