Optimism Foundation offered 25M OP tokens to attract Kraken’s L2 to the Superchain

Optimism Foundation offered 25M OP tokens to attract Kraken’s L2 to the Superchain
фото показано с : cryptoslate.com

2024-10-30 23:24

Optimism Foundation and Kraken closed a 25 million OP deal to bring the exchange’s new layer-2 (L2) blockchain, Ink, to the Superchain ecosystem.

According to CryptoSlate data, the deal is worth $43 million at OP’s current price of $1.72.

Grant

Optimism Foundation’s chief growth officer, Ryan Wyatt, explained that the grant is structured to fund Kraken’s protocol engineering and incentivize major transaction milestones.

The 25 million tokens are split into two segments: five million $OP tokens will support engineering efforts specific to the OP Stack, while the remaining 20 million are earmarked for achieving transaction benchmarks that would generate substantial fees for the OP Collective.

According to Wyatt, the remaining 20 million tokens will be paid out as “massive transaction milestones” are met. The aim is to drive fees to the Optimism Collective, giving the deal a positive return on investment.

Wyatt also highlighted that this deal was also offered to other crypto firms that deployed blockchains using Optimism’s infrastructure, such as Coinbase’s L2 blockchain Base.

Tokens paid as grants

The foundation has emphasized that the grant represents more than simple deployment costs, typically estimated at under $3,000 per month.

According to Wyatt:

“They [Kraken] will contribute to protocol engineering and development of the OP Stack, committing to interoperability, Superchain ERC-20 standards, and broader ecosystem goals.”

He clarified that Kraken’s work would include deep integration efforts to strengthen the OP Stack’s potential across the DeFi sector.

Wyatt also shared a public document detailing OP token allocations, which shows nearly 480 million OP tokens committed to “Partner fund + seed fund + Unallocated.” He further vowed that “transparency will continue to increase.”

Another CEX-backed L2

Kraken announced its Ethereum L2 on Oct. 24 and said the network will be a general-use network like Base. 

According to the announcement, the Superchain was chosen to satisfy Ink’s ambition to be an interoperable blockchain while maintaining Ethereum’s (ETH) underlying security as a layer-1 blockchain.

Base, the only layer-2 blockchain deployed on Superchain by a centralized exchange until now, has been very successful. It crossed $2 billion in total value locked (TVL) in late September and sits at $2.7 billion as of Oct. 29, becoming the largest Ethereum L2 by TVL, per DefiLlama data. 

The post Optimism Foundation offered 25M OP tokens to attract Kraken’s L2 to the Superchain appeared first on CryptoSlate.

origin »

Bitcoin price in Telegram @btc_price_every_hour

iDealCash (DEAL) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 3.59 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 1.447b DEAL

million deal optimism superchain foundation kraken data

million deal → Результатов: 126


Фото:

Bitcoin Futures Exchange Bakkt Ramps Up Crypto Custody Insurance Coverage

Bakkt — the Intercontinental Exchange (ICE)-owned Bitcoin futures platform — has inked a partnership deal with Marsh to provide $500 million in crypto custody insurance coverage. Writing in the company’s blog on Monday, Bakkt President Adam White announced the collaboration with insurance broker Marsh to provide $500 million in coverage to crypto custody clients.

2020-5-20 00:15


Фото:

JPMorgan Finally Joins the Bitcoin (BTC) Bandwagon 

JPMorgan, America’s largest bank with a staggering $2. 6 million in assets, has inked a deal with leading Bitcoin (BTC) trading venues, Coinbase and Gemini exchange. JPMorgan will now offer the two exchanges banking services including deposit, withdrawal and transfers with Automated Clearing House (ACH) infrastructure, according to a Forbes report on May 12, 2020.

2020-5-13 13:07


Binance is preparing the deal to buy CoinMarketCap for $ 400 million

Binance is in the final stages before buying CoinMarketCap, which eliminates the independence of the largest player in the field of cryptocurrency analytical data. According to The Block reporters, the transaction amount reaches $ 400 million, and public disclosure of transaction information from company officials will occur before the end of the week. Presumably, the […]

2020-4-1 19:28


Фото:

The Crypto Industry’s $400M Cash and Stock Deal – Binance to Acquire Coinmarketcap.com

The popular cryptocurrency exchange Binance is allegedly in talks with the owners of coinmarketcap. com in hopes of purchasing the website for $400 million. People familiar with the matter explained the acquisition will be announced this week and could be one of the largest procurements in the cryptocurrency and blockchain industry to-date.

2020-4-1 17:15


Fidelity International Buys 5.6% Stake In A Hong Kong Based OSL Crypto Exchange Operator

Fidelity International, an off-shoot of renowned US-based financial asset manager Fidelity Investments, has decided to purchase a 5. 6% stake in crypto exchange OSL that operates in Hong Kong. According to public disclosure documents, Fidelity international purchased 17 million shares from BC Group which owns OSL crypto exchange.

2020-2-22 21:37


Фото:

TRON’s Justin Sun Pledges $1 Million to Rescue the Planet

There has been a great deal of conversation recently on how to keep our planet from suffering from the effects of global warming. To try and help Justin Sun, the co-founder and CEO of the TRON Foundation, announced on Twitter that he will be committing $1 million to the United Nations Framework Convention on Climate […] The post TRON’s Justin Sun Pledges $1 Million to Rescue the Planet appeared first on BeInCrypto.

2019-12-19 09:15