Ethereum layer-2 scaling solution Optimism continues to be overwhelmed with “all-time high demand” following a launch of their long awaited airdrop on Wednesday.
Users racing to gather their tokens were welcomed with unsuccessful or delayed transactions because the Optimism team raced without anyone’s knowledge to include additional ability to the network.
As formerly reported in April, Optimism is airdropping the brand new OP governance token — over multiple phases — plus the launch of the decentralized autonomous organization (DAO) dubbed “The Optimism Collective.”
Nearly 250,000 addresses can get the airdrop, using the eligibility looking for Optimism early adopters and regular Ethereum users, for example DAO voters, multi-sig signers and bridge users.
Based on Optimism Status, the mainnet experienced degraded performance for roughly 3 . 5 hrs, using the team “provisioning more capacity” to resolve the problem. Consequently, archive node functionality remains temporarily limited before the network load subsides.
Optimism mentioned on Twitter it would go ahead and take training it learned in the first airdrop and apply these to the 2nd round, while it will likewise publish an “extensive retrospective next week” detailing what went lower.
“Wow, exactly what a day. OP Drop #1 were built with a turbulent launch which we finally stabilized after greater than five hrs of non-stop work.”
There are plenty of training we learned out of this to use to decrease #2. We’ll be publishing a comprehensive retrospective in a few days.
Iteration is core towards the Optimism ethos so we always make an effort to apply today’s training to tomorrow’s problems.
— Optimism (✨_✨) (@optimismPBC) June 1, 2022
Twitter users, for example OlimpioCrypto, were the first one to announce the airdrop going live previously Tuesday for their 35,400 supporters, hrs in front of Optimism formally doing this.
Because it stands, OP can be obtained for trade on several centralized exchanges for example Coinbase, OKX, Bybit, Gate.io, MEXC Global, together with popular decentralized exchange Uniswap.
(✨_✨) $OP AIRDROP IS LIVE
Thread: all that you should know of the so hyped launch
Claim at this time:
— olimpio ⚡️ (@OlimpioCrypto) May 31, 2022
With users racing to snap up free tokens prior to the official announcement, the Optimism team acknowledged that it is network was battling to aid the demand:
“Sup sleuths—as you may have suspected, OP Drop #1 launches today. We’ve not formally announced yet, but we’re already experiencing an exciting-time popular. We understood everybody could be excited, but holy cow—y’all just couldn’t watch for #OPSummer.”
“We’re trying to heavily provision more capacity before our official announcement—in the meantime the general public RPC may respond gradually,” it added.
An RPC (Remote Procedure Call) enables various applications, for example MetaMask or Uniswap, to have interaction with Optimism and Ethereum and seems to possess been a vital issue that slowed lower OP transactions.
Commenting around the drop, Martin Köppelmann, co-founding father of Ethereum Virtual Machine-compatible blockchain Gnosis, mentioned he thinks Optimism is among the “leading” projects tackling Ethereum’s scaling issues, however this drop highlighted the reality that “scaling is difficult.”
Which was definitely not designed to seem negative by any means towards @optimismPBC – just the opposite, I think about the project among the leading once to tackle scaling and them encountering scaling issues at this time just shows how hard the issue is.
— Martin Köppelmann (@koeppelmann) May 31, 2022
Based on CoinGecko, OP opened up at $1.43 before surging to $2.10 however, the cost has since dropped to roughly $1.92, marking a rise of roughly 34%. To date, buying and selling volume has capped $169 million during the time of writing.