Optimism to distribute unclaimed funds from first airdrop

by Zack Abrams

Layer 2s and Scaling • September 16, 2023, 2:53PM EDT

Published 1 minute earlier on

UPDATED: September 16, 2023, 3:55PM EDT

The Block

Quick Take

The Ethereum Layer 2 network Optimism recently announced that unclaimed funds from its first airdrop will be directly distributed to the remaining eligible addresses.

Optimism OP +11.19% , one of the top Layer 2 networks on Ethereum ETH +0.97% , will distribute remainder of the funds from its first airdrop directly to the eligible addresses who have yet to claim the airdrop directly.

The airdrop, which commenced on June 1, 2022, had distributed 166 million of the nearly 215 million tokens reserved for the airdrop to addresses who claimed the airdrop before the announcement, according to blockchain data. About a quarter of eligible addresses did not claim the airdrop and will thus receive the direct distribution today, as announced by Optimism.

Optimism has committed to distributing 19% of its initial token supply through airdrops. Following its two airdrops so far, 13.73% of that initial supply remains, according to Optimism. Optimism has yet to announce a third airdrop.

Optimism is currently the second-largest L2 on Ethereum, as measured by Total Value Locked, according to The Block data.

About Author

Zack Abrams is a writer and editor based in Brooklyn, New York. Before coming to The Block, he was the Head Writer at Coinage, a Web3 media outlet covering the biggest stories in Web3. The story he co-reported on Do Kwon won a 2022 Best in Business Journalism award from SABEW. Other projects included a deep dive into SBF's defense based on exclusive documents and unveiling the identity of the hacker behind one of 2023's biggest crypto hacks — so far. He can be reached via X @zackdabrams or email, [email protected].