Ethereum layer-2 scaling answer Optimism has been overwhelmed with “all-time excessive demand” following the launch of its highly anticipated airdrop on Wednesday.
Customers racing to gather their tokens have been greeted with failed or delayed transactions because the Optimism crew raced within the background so as to add extra capability to the community.
As beforehand reported in April, Optimism is airdropping the new OP governance token — over a number of phases — alongside the launch of a decentralized autonomous group (DAO) dubbed “The Optimism Collective.”
Practically 250,000 addresses are in a position to obtain the airdrop, with the eligibility set for Optimism early adopters and common Ethereum customers, reminiscent of DAO voters, multi-sig signers and bridge customers.
In line with Optimism Standing, the mainnet skilled degraded efficiency for roughly three and a half hours, with the crew “provisioning extra capability” to resolve the difficulty. In consequence, archive node performance stays briefly restricted till the community load subsides.
Optimism acknowledged on Twitter that it might take the teachings it realized from the primary airdrop and apply them to the second spherical, whereas it should additionally publish an “intensive retrospective subsequent week” detailing what went down.
“Wow, what a day. OP Drop #1 had a turbulent launch which we lastly stabilized after greater than 5 hours of continuous work.”
There are quite a lot of classes we realized from this to use to Drop #2. We’ll be publishing an intensive retrospective subsequent week.
Iteration is core to the Optimism ethos and we all the time try to use immediately’s classes to tomorrow’s issues.
— Optimism (✨_✨) (@optimismPBC) June 1, 2022
Twitter customers, reminiscent of OlimpioCrypto, have been the primary to announce the airdrop going dwell earlier on Tuesday to their 35,400 followers, hours forward of Optimism formally doing so.
Because it stands, OP is on the market for commerce on a number of centralized exchanges reminiscent of Coinbase, OKX, Bybit, Gate.io, MEXC World, together with standard decentralized alternate Uniswap.
(✨_✨) $OP AIRDROP IS LIVE
Thread: all you’ll want to know concerning the so hyped launch
Declare proper now:
— olimpio ⚡️ (@OlimpioCrypto) May 31, 2022
With customers racing to snap up free tokens earlier than the official announcement, the Optimism crew acknowledged that its community was struggling to assist the demand:
“Sup sleuths—as you may need guessed, OP Drop #1 launches immediately. We have now NOT formally introduced but, however we’re already experiencing an all-time excessive demand. We knew everybody could be excited, however holy cow—y’all simply couldn’t watch for #OPSummer.”
“We’re working to closely provision extra capability earlier than our official announcement—within the meantime the general public RPC might reply slowly,” it added.
An RPC (Distant Process Name) allows varied functions, reminiscent of MetaMask or Uniswap, to work together with Optimism and Ethereum and seems to have been a key concern that slowed down OP transactions.
Commenting on the drop, Martin Köppelmann, co-founder of Ethereum Digital Machine-compatible blockchain Gnosis, acknowledged he thinks Optimism is among the “main” tasks tackling Ethereum’s scaling issues, however this drop highlighted the purpose that “scaling is tough.”
And this was definitely not meant to sound detrimental in any approach in the direction of @optimismPBC – fairly the alternative, I think about the venture as one of many main as soon as to sort out scaling and them working into scaling points proper now simply exhibits how arduous the issue is.
— Martin Köppelmann (@koeppelmann) May 31, 2022
In line with CoinGecko, OP opened at $1.43 earlier than surging to $2.10; nonetheless, the value has since dropped again to roughly $1.92, marking a rise of roughly 34%. To this point, buying and selling quantity has topped $169 million on the time of writing.