<p><span style="font-weight: 400;">The governance token for the rollup-based Layer 2 network Optimism has gone live. </span></p> <p><span style="font-weight: 400;">The </span><a href="https://www.theblockcrypto.com/post/149414/optimism-op-token-to-hit-market-today-centralized-exchanges-say"><span style="font-weight: 400;">token</span></a><span style="font-weight: 400;"> is set to shift Optimism’s structure by fueling The Optimism Collective, a bicameral governance system for funding composed of Token House and Citizens’ House. The token will trade under the ticker OP and be distributed via airdrop to early users. </span></p> <p><span style="font-weight: 400;">Individuals who used Optimism before March 25 can claim an airdrop of OP. A total of 231,000 addresses can claim 214 million OP tokens (5% of the total 4.29 billion supply). The claim process has now officially begun.</span></p> <p><span style="font-weight: 400;">Today’s airdrop fleshes out Token House so that OP holders can vote on Optimism-centric projects. Citizens’ House comes later in 2022 after the establishment of Token House, in which Citizens’ House facilitates and governs funding for projects aimed at promoting the public good. </span></p> <p><span style="font-weight: 400;">Exchanges such as OKX, LBank, MEXC and AAX have stated that they’ll list OP at various points on May 31. </span></p> <p><span style="font-weight: 400;">Rumors of Optimism’s governance token emerged after individuals spotted the </span><a href="https://www.theblockcrypto.com/linked/142651/coinbase-shows-price-page-for-optimism-suggesting-a-token-could-be-on-the-way"><span style="font-weight: 400;">OP token page</span></a><span style="font-weight: 400;"> on Coinbase on April 20, The Block previously reported. Optimism then laid out its </span><a href="https://www.theblockcrypto.com/linked/143635/ethereum-scaling-startup-optimism-confirms-governance-token-as-part-of-broader-shift"><span style="font-weight: 400;">plans</span></a><span style="font-weight: 400;"> for OP and The Optimism Collective on April 26. </span></p> <p><span style="font-weight: 400;">Today's event represents the first OP airdrop and an additional 14% of its overall supply has been reserved for future airdrops. Besides the airdrop to early adopters, a portion of OP supply will be distributed to projects operating on Optimism. More airdrops will occur throughout Q2. </span></p> <p><span style="font-weight: 400;">As a Layer 2 initiative, Optimism aims to allow apps to achieve faster and cheaper transactions than on the Ethereum blockchain. According to data from The Block, Optimism hosts over </span><a href="https://www.theblockcrypto.com/data/scaling-solutions/scaling-overview"><span style="font-weight: 400;">$600 million</span></a><span style="font-weight: 400;"> in total value locked across apps like Synthetix, Uniswap, Perpetual Protocol, Lyra, Curve and Aave.</span></p>