The top two networks in terms of TVL, Arbitrum and Optimism, have various ecosystem layouts and different development routes. The former focuses more on user experience, while the latter has achieved TVL growth after issuing native tokens. So after learning about Arbitrum, let’s dive into the world of Optimism as well as the project ecosystem built on it.
Optimism has unique advantages in terms of convenient migration and friendliness to Ethereum ecosystem developers. The launch of Optimism’s mainnet is actually one month prior to Arbitrum. However, in July 2021, the network had not yet achieved 100% compatibility with EVM when it went online and did not realize the one-click migration of DApps on the Ethereum chain. It is subject to the release of the whitelist restrictions and the impact of the market downturn, and therefore the ecosystem of Optimism is not as rich as that of Arbitrum.
In November 2021, the OVM virtual machine version 2.0 deployed by Optimism is completely equivalent to EVM, which can simplify the development procedures of developers and reduce costs as well. As a result, the on-chain ecosystem of the network is officially “sprouted”.
In March 2022, Optimism completed the $150 million financing led by Paradigm and A16Z at a valuation of $1.65 billion, setting a record of $150 million in Ethereum Layer 2 financing, and its TVL has also recently hit a new high, significantly accelerating the pace of development.
On April 27, 2022, Optimism announced the issuance plan of the native token OP, which turns out to be the first L2 network to issue tokens under the framework of Rollup technology.
The total amount of OP issued is about 4.29 billion, and the total supply will expand at a rate of 2% per year, mainly for community governance, voting rights and project incentives. 19% of the total OP will be airdropped to users, of which 5% will be airdropped to the community in the first round, and the other 14% will be distributed in the future.
OP quickly went online on the secondary market after the airdrop, with the trading price reaching a maximum of $2. According to data revealed, the minimum airdrop quantity of OP is 409.42. According to an all-time high price, the minimum airdrop value of OP is about $800. The wealth effect of early users quickly gained market attention, and external users began to participate in its ecosystem, hoping to be qualified for the next round of OP airdrops.
After completing the first round of airdrops on June 9, Optimism created a fund with 231 million OP, which aims to support builders and projects in the OP ecosystem and determine OP’s incentive amount through indicators such as the project’s TVL and daily transaction volume. The Token incentive plan successfully introduced users and projects into the Optimism ecosystem.
At present, the well-known native projects on Optimism are mainly concentrated on DeFi, so here we will focus on presenting several representative popular DeFi projects, and divide them into three modules: DEX, asset management, and financing, covering users’ multiple needs for DeFi services, and the following projects can be further experienced in the DApp market of Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)) Wallet.
How to add Optimism mainnet and its token
1）Tap [All Mainnets], search for Optimism, and enter the 6-digit wallet password to complete.
2）Tap “+” to access the page for adding tokens. Search for OP and tick to add it, tap the token and you can deposit or make transactions.