Introduction
The OP token plays an essential role in Optimism network management. In the first Optimism token airdrop in May 2022, part of its initial supply was provided to the first users of this network. Optimism developers have said that airdrops will continue in the future.
Allocations of OP Token
Category | Percentage | Description |
---|---|---|
Ecosystem Fund | 25% | The Ecosystem Fund is a proactive program meant to stimulate development in the Collective ecosystem by providing funding to projects and communities |
Retroactive Public Goods Funding (RetroPGF) | 20% | RetroPGF is the Optimism Collective’s primary mechanism to adequately and reliably reward public goods for the impact they provide |
User airdrops | 19% | A series of airdrops to reward users for specific helpful behaviors, beginning with Airdrop #1 |
Core contributors | 19% | The people who’ve been working tirelessly to bring the Optimism Collective into existence |
Sugar xaddies | 17% | Investors |
User Airdrops
19% of the OP token supply is allocated to the airdrop, of which 5% will be airdropped in the first airdrop and 14% in subsequent periods.
In total, 248,699 addresses are eligible to claim OP in this initial airdrop. A snapshot of addresses was taken on 03-25-2022 0:00 UTC. The allocations and criteria break down as follows:
Name | # of Addresses Eligible | OP Allocated per Address |
---|---|---|
Optimism Users | 92,157 | 776.86 |
Repeat Optimism Users* | 19,174 | 1,692.49 |
DAO Voters | 84,015 | 271.83 |
Multisig Signers | 19,542 | 1,190.26 |
Gitcoin Donors (on L1) | 23,925 | 555.92 |
Users Priced Out of Ethereum | 74,272 | 409.42 |
why Delegation?
Participating in governance of the Optimism Token House can require a serious time commitment. For this reason, people are able to delegate the voting power of their OP tokens to a community member who has explicitly volunteered to play an active role in Token House governance. These volunteers are called delegates.
Method
contracts and summary on how I collected the data:
contracts:
- claim contract address :
0xfedfaf1a10335448b7fa0268f56d2b44dbd357de
summary
With help of above contract I collected the information about $OP airdrop claiming. I assumed the users who swapped OP tokens on sushi, velodrome or transferred out their tokens with the same amount that claimed from the airdrop as sellers. I used optimism.core.fact_delegations table to collect the delegations’ activity of airdrop claimed users
i most note that I will analyze just the delegation events with DELEGATION_TYPe='First Time Delegator' or DELEGATION_TYPe='First Time Delegator - Self Delegation'
Because we want the first time delegation for each user received the airdrop
our approach for answering the bounty questions:
we will have 5 sections:
-
Claiming Stats:
Here, we analyze the data specific to the airdrop claim process, such as the amount claimed on a daily basis or the daily number of users who received the airdrop.
-
$OP Price After airdrop:
We will monitor the price of the token after the launch and the start of the airdrop
-
Distribution of Airdrop :
Here we answer the question of how many tokens most users received
-
Airdrop Holders:
How many users still haven't sold their airdrops?
-
Top Destination after claiming:
To what destination have users transferred their tokens the most?
-
delegations:
We are going to analyze the Delegate statistics of the users who received the airdrop
Conclusion
- 60.5% of the eligible users claimed 73.9% of the total airdrop amount
- the highest daily claiming amount was on May 31 with 60.1M $OP and Jun 1 with 68.78M $OP
- highest number of claimed users was on Jun 1 with 73K user
- on the first days of the airdrop the average amount of claimed airdrop was mostly between 800 and 1000 $OP after the end of July this average decrease and mostly be between 600 and 800 $OP
- With starting of the airdrop, OP's price reached close to 4 USD, but its price quickly decreased to 0.5 USD.
- Most users (77.9%) received less than 1000 tokens
- 60% of the total airdrop amount claimed in the first 2 days
- 63.9K user or 42.4% of 150.5K users that claimed the airdrop still holding the airdrop
- 65.2% or 27.3M $OP of the transferred Amount went to uniswap
- 105K user or 70.1% of 150.5K users that claimed the airdrop delegated their vote power and 13.54K Users who claimed the airdrop had a self delegation
- Most of the users delegated to LindaXie with13K user
Observation
- 150.5K or 60.5% OF 249K eligible users have been claimed their OP airdrop
- 159.8M $OP or 74.4% of 215M $OP total airdrop amount have been claimed.
- most of the Claimed amount was on the first days especially the first 2 days of the airdrop process which was on May 31 with 60.1M $OP and Jun 1 with 68.78M $OP
- almost 50% of the total airdrop amount claimed in the first 2 days
- on the first days of the airdrop the average amount of claimed airdrop was mostly between 800 and 1000 $OP after the end of July this average decrease and mostly be between 600 and 800 $OP
Observation
105K user or 70.1% of 150.5K users that claimed the airdrop delegated their vote power and 13.54K Users who claimed the airdrop had a self delegation
Also, here most of the delegations belongs to the first 2 days and the highest delegation events number was on Jun 1 with 43.03K and 42.74% of the users delegated on the first 2 days.
Most of the users delegated to LindaXie which 13.2K user delegated to this,
at the second rank quix comes with 11.3K user