Optimism community approves yearlong OP buyback program

The Optimism governance community has approved a proposal to launch a yearlong OP token buyback program. Under the approved plan, 50% of all Superchain revenue over the next 12 months will be allocated to monthly OP purchases. The vote passed with 33.27% in favor, 3.23% against, and 3.95% abstaining.

Until now, 100% of Superchain revenue flowed into the community-controlled treasury. Under the new model, half of all incoming funds will be sold through a partner OTC provider, which will convert ETH earned from L2 sequencer fees into OP tokens. The acquired tokens will then be held in the Optimism treasury alongside the remaining ETH.

Superchain encompasses several L2 networks built on OP Stack, including Sony’s Soneium, Unichain, Ink, and Coinbase’s Base. These networks generate ETH revenue through sequencer operations, and part of that revenue stream will now support continuous OP buybacks.

Optimism estimated that if the program had been active last year, it would have purchased roughly 2,700 ETH worth of OP – about $8 million at current prices. The acquired tokens may be used for various purposes, including burning, ecosystem incentives, and funding new development initiatives.

Optimism Foundation executive director Bobby Dresser called the initiative “an important step in expanding the role of the OP token” and a way to “better align token value with the success of the entire Superchain ecosystem.”

Despite approval of the major proposal, OP’s price did not move higher. According to CoinGecko, the token fell 1.9% in the past 24 hours and is trading around $0.26.

The community expects that recurring purchases will create steady demand for OP and strengthen the project’s long-term economic model. The program will begin in February and will become one of Superchain’s largest internal revenue-allocation mechanisms.