The cryptocurrency space is constantly evolving and among the most significant developments in recent times is the Optimism network’s series of airdrops. And now the 5th airdrop which both new investors and experienced ones highly anticipate.
Optimism is a layer 2 scaling solution for Ethereum which has been on the front of addressing multiple blockchain scalability issues while also maintaining the security of the Ethereum mainnet.
This latest airdrop represents not only an opportunity for free tokens but also a chance to become a part of a growing ecosystem.
What is Optimism (OP) Airdrop 5?
The Optimism (OP) Airdrop 5 is the Optimism project’s fifth airdrop which is a community-driven token distribution event with multiple key enhancements and modifications from previous events.
This airdrop is created to reward those users who have meaningfully engaged with the Optimism network while incentivizing new participants to join the ecosystem. Unlike the traditional airdrops that simply reward the token holders, Optimism focuses more on the actual usage of the network and the user’s contribution towards it.
This airdrop represents a well-planned distribution of the OP governance tokens, which play a very important role in the network’s decision-making process and overall utility as well.
In Optimism (OP) airdrop 5, 10.3 million OP tokens are to be distributed which are valued at approximately $16 million to 54,700 users. The initial aim of this airdrop is to reward its participants who actively engage with the Superchain ecosystem.
The Significance of Layer 2 Solutions
Before getting to know how to take part in this airdrop it is important to understand why optimism and its token hold such importance in the crypto market. As a Layer 2 solution, Optimism solves the most concerning issue related to Ethereum which is scalability.
By processing the transaction from the main Ethereum chain and then batching them together like bundles, Optimism reduces the gas fees and increases the transaction throughput.
This technical innovation has made it possible for users to enjoy the security of Ethereum while also doing cheaper and faster transactions. The OP token is distributed through airdrops giving users a stake in this technology.
Eligibility Criteria of Optimism (OP) Airdrop 5
The eligibility criteria for Optimism Airdrop 5 have been carefully curated to reward the genuine users of the platform while preventing any exploitation. To be eligible to take part in Optimism Airdrop 5 users had to have an Optimism network before the snapshot date.
Users should make at least 10 app transactions per week in a minimum of 20 distinct weeks from March 15, 2024, to September 15, 2024, before the eligibility period.
The user then should have made at least 1 app transaction on at minimum 7 chains in the Superchain from March 15, 2024, to September 15, 2024, during the eligibility period.
Participants must have made at least 1 app transaction on a minimum of 3 chains in the superchain in the first week after each chain’s public mainnet launch.
You need to complete a minimum of 1 Optimism quest between the dates 20 September 2022 to Jan 17, 2023, along with mining NFTs from a minimum of 3 unique contracts that are registered for the SUNNYs during the eligibility period from Match 15, 2024 to September 15, 2024.
The participants also need to take part in 5 SuperFest missions during the campaign period from July 9, 2024, to September 3, 2024.
If you interact with a minimum of 20 unique contracts on the superchain and have a contracts-to-transaction ratio of at least 10% during the eligibility period from March 15, 2024, to September 15, 2025, then you are eligible for rewards.
But as of now the eligibility criteria are locked and users are already considered for Optimism Airdrop 5.
How were Participants Selected for Optimism Airdrop 5?
Optimism (OP) Airdrop 5 is for participants who are actively using the Superchain and engaging on the different apps across the ecosystem then you are not only taking part in the airdrop but also scaling Ethereum.
EOA addresses those who made App transactions between 2024-03-15 00:00:00 UTC and 2024-09-15 00:00 UTC on the apps – Base, Zora, OP Mainnet, Metal, Cyber, Mode, Mint, Swan, Faxtal, Lisk, Polynomial, Redstone and Orderly were considered for this airdrop. Optimism Airdrop allocated 10,368,678 OP to 54,723 users.
Also, Read: Types Of Crypto Airdrops: A Beginner’s Guide
Optimism (OP) airdrops so far
Up to this date, the Optimism network has distributed around 265 million OP tokens through different airdrops till this 5th one. And still, the airdrops are not over, there are 550 million OP tokens still left for future airdrops. Optimism Airdrop 1 was held in May 2022 and it got some remarkable results.
Then the Optimism Airdrop 2 was held in February 2023 followed by Optimism Airdrop 3 in September 2023. After these 3 airdrops, Optimism distributed 19.4 million OP tokens to approx 32,000 users.
Then Optimism 4 airdrop was conducted in February 2024 and distributed 10.3 million OP tokens to 22,000 users. Looking at the success of all the previous airdrops it can be anticipated that airdrop 5 will be touching great heights too.
