Optimism is proposing a structural change that ties its token directly to network activity and Superchain revenue.
Summary
- Optimism proposes using 50% of Superchain revenue for OP buybacks.
- The program would launch in February pending a Jan. 22 governance vote.
- OP tokens bought would return to the treasury for future governance use.
Optimism is moving towards a model that would see OP transition from a purely governance token.
In a Jan. 8 blog post, the Optimism Foundation outlined a governance proposal that would direct half of all incoming Superchain revenue toward buying Optimism (OP) tokens on a recurring basis, with the program set to begin in February if approved.
Turning Superchain revenue into OP demand
The proposal centers on revenue generated by the Superchain, a growing network of layer-2 chains built using the OP Stack. These include Base, OP Mainnet, Unichain, World Chain, Ink, Soneium, and others. Each chain contributes a share of sequencer revenue back to Optimism under existing agreements.
Over the past 12 months, that revenue totaled 5,868 ETH, all of which has flowed into a governance-controlled treasury. As Superchain usage has expanded, that pool has grown alongside it. The Foundation now wants to formalize a link between that activity and the OP token.
Under the plan, 50% of new monthly revenue would be used to buy OP tokens over a 12-month pilot period. The remaining half would continue to fund Foundation operations and ecosystem growth.
Purchases are expected to be executed in a way that limits market disruption, with tokens returned to the Collective’s treasury rather than distributed immediately.
Governance would retain control over what happens next. Options include burning the tokens, allocating them to future staking programs, or using them for other ecosystem incentives as the Superchain matures.
A shift in OP’s role
Until now, OP has largely functioned as a governance token, with value tied loosely to adoption of the OP Stack. The Foundation argues that this structure no longer fits the scale Optimism has reached.
The Superchain currently accounts for more than 60% of layer 2 fee market share and processes about 13% of total on-chain transactions. The proposal frames buybacks as a way to let that usage feed directly back into OP, rather than stopping at treasury accumulation.
The Foundation described the move as an early step, not a final design. Future changes could expand OP’s role into areas such as shared infrastructure coordination or sequencer-related functions, with the buyback mechanism positioned as a starting point rather than a complete overhaul.
Discussion around the proposal is ongoing in Optimism’s governance forum. A community call with Optimism leadership is scheduled for Jan. 12, ahead of a formal vote on Jan. 22. If approved, the buyback program would begin shortly after.
OP is down 87% year-over-year and more than 90% from its 2024 all-time high. The new proposal could help boost the token’s price.
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