The Optimism team began selling 116 million L2 project governance tokens ($162.4 million) as part of a private placement for treasury management purposes.
The initiative will be rolled out across multiple transactions for seven buyers starting September 20th.
“Tokens are subject to blocking for two years. During this period, holders will be able to delegate assets to unaffiliated third parties to participate in management.” – the message says.
The 116 million tokens mentioned represent “the unallocated portion of the treasury from the fund’s initial operating budget in the amount of 30% of the initial supply.”
“These are planned operations. We are sharing information to keep the community informed.” – the developers said.
On September 14, the team reallocated 130 million OP for treasury management purposes. The transactions were internal in nature.
Today, we are transferring 130M OP tokens between wallets for treasury management purposes. This is an internal, planned transaction and we’re sharing a heads up to keep our community informed.
— Optimism (✨🔴_🔴✨) (@optimismFND) September 14, 2023
Let’s remember that the team recently conducted an airdrop of $26.9 million among 31,870 addresses.
Previously, the Optimism developers distributed 48 million OP unclaimed during the first distribution to 88,000 wallets.
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