Optimism floats OP buyback proposal using Superchain revenue

A new plan would tie OP token value to network performance by using half of all Superchain fee revenue for systematic repurchases.

The Optimism Foundation has floated a major shakeup to the dynamics of the layer 2’s OP token, proposing to allocate 50% of its Superchain revenue to regular buybacks of the asset.

Optimism Grants council member Michael Vander Meiden shared the proposal via X on Thursday, highlighting that “after many years of being a ‘useless gov token’ the value of the OP token will finally be tied to network activity.”

The proposal was initially submitted in the Optimism governance forum on Wednesday. It outlines a plan to direct 50% of incoming Superchain revenue to monthly Optimism (OP) buybacks that will flow back into the token treasury.