Optimism proposes OP token buybacks using 50% of superchain revenue

Source: CryptoNewsNet Original Title: Optimism proposes OP token buybacks using 50% of superchain revenue Original Link: The Optimism Foundation is proposing a new mechanism to tie the OP token more closely to the growth of its Superchain ecosystem, unveiling plans to use 50% of Superchain revenue to repurchase OP tokens.

Under the proposal, which is set to move to a governance vote on January 22, Optimism would initiate monthly buybacks starting in February, utilizing revenue generated from sequencer fees across chains built on the OP Stack. These include networks like certain ecological chains, DEX ecosystem chains, World’s World Chain, Sony’s Soneium and other Superchain participants.

The news comes as the OP token is down nearly 54% over the past three months and 83% in the past year.

Optimism shared that it has collected 5,868 ETH in revenue from the Superchain, all of which has flowed into a token-governed treasury. The new proposal would redirect half of the incoming revenue toward purchasing OP tokens on the open market, with the acquired tokens then returned to the treasury. Those tokens could eventually be burned or distributed as staking rewards, depending on future governance decisions.