The Optimism team has begun selling 116 million governance-tokens L2-project (about $162.4 million) in a private placement aimed at treasury management.
The rollout will occur across several transactions for seven buyers, starting on September 20.
The tokens will be locked for two years. During this period, holders will be able to delegate assets to unaffiliated third parties to participate in governance.
The 116 million tokens represent the undistributed portion of the treasury from the fund’s initial operating budget, 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 redistributed 130 million OP for treasury management purposes. The transactions were internal.
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
Earlier this week, the team conducted an airdrop worth $26.9 million across 31,870 addresses.
Earlier, the Optimism developers distributed 48 million OP to 88,000 wallets that were unclaimed in the first distribution.