![]() ![]() In addition this post will call out some of the considerations users should be aware of before transitioning to L2. It is not yet clear whether this plan needs to be included within the SIP or each transition phase should be its own SIP, but I will leave that discussion to the community. However, we believe we have a reasonable transition plan. As discussed in a recent call there remain some unknowns. One of the most critical is how to gracefully transition from L1 to a protocol running on both L1 and L2 simultaneously. Related Reading | TA: Ethereum Dips From $2K, Why 100 SMA Might Spark Fresh Increase ETH trading at $1,948 in the daily chart | TradingView.With the launch of Optimistic Ethereum (OΞ) mainnet in a few days we are entering a new era for the project, OΞ presents an opportunity to scale the protocol but it also presents a number of challenges. Currently, the token is trading at around $1.69 as per CoinGecko after reaching a peak of $2.10. Meanwhile, many holders expect the OP price to experience a rally as it’s being listed by big exchanges like Binance and FTX. Nonetheless, the team seems to have responsibly worked to solve the problems faced today and expects to apply the lessons learned to the next airdrop. Later on, it seemed like Binance had also been having trouble handling the OP hype as users reported that the exchange was not reflecting deposits even after a successful transfer. Throughout the process, users experienced various issues like not being able to claim OP at the same time as other early users or seeing their status as “ineligible”, although they had previously checked the opposite. “While the sequencer remained stable throughout, this was the point where read-access was able to handle the expected load.” It took them several hours to “stabilize the public RPC.” The team continued in a series of efforts that resulted in taking down the claims UI for a period of time “in an effort to decrease RPC load in the short-term,” however, “without access to the claims UI, users began to construct and share links to their own custom-built claim UIs.” “We have NOT officially announced yet, but we’re already experiencing an all-time high demand,” the team had alerted earlier in the day, surprised by the high load that struck. “We then deployed our claims UI in preparation for our official announcement,” they explained, and while underestimating the amount of traffic that would hit them, “website visitors found the claims link” before the announcement was officially made, thus “the public RPC started getting slammed.” This meant that “claims were open, and we had no way to stop them.” The source of the problem seems to the that the team failed to make their MerkleDistributor contract pausable. Their quest to “rebuild the internet to align with the values of its users” has excited many users, even Vitalik Buterin himself who previously described the effort as “Possibly the biggest attempt at non-token-holder-centric DAO governance so far.”Īs the collective has been careful to constantly alert users about possible scams by impersonators and to only follow official announcements, it was strange at first that the claims of the OP token seemed to have started without the team giving out said announcement –a Twitter account dedicated to sharing airdrops announced it beforehand–, but this was later explained alongside other mistakes. These public goods act as a propellant for the growth of the Collective economy.” ![]() ![]() The Collective will consistently provide retroactive incentives for public goods which benefit Optimism, Ethereum, and the Collective as a whole. ![]() “The Optimism Collective will dispel the myth that public goods cannot be profitable. In a mission to fund public goods and create a sustainable future for Ethereum, the Optimism Collective firmly believes that “positive impact to the collective should be rewarded with profit to the individual,” thus this latest airdrop is one more step in their process of creating “a new model for properly rewarding those who create or sustain public goods.” A very expected launch went live as the governance token OP was airdropped by the Ethereum layer-2 scaling solution Optimism. ![]()
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