Optimism Foundation, a non-profit organization dedicated to overseeing the development of ecosystem projects and infrastructure, recently disclosed in a forum post its decision to sell 19.5 million OP tokens, equivalent to 30% of the initial OP token supply.

The private token sale, valued at approximately $89.5 million, is part of the foundation’s strategic initiatives. While specific details about the terms and purchaser were not disclosed, the tokens are subject to a two-year lockup period, during which the purchaser can delegate them to third parties for governance participation.

Over the next few days, Optimism Foundation will execute several transactions involving approximately 25 million OP tokens from controlled wallets. Despite these planned transactions, the price of OP tokens remained stable at $4.59, with a minor 1% increase based on CoinMarketCap data.

This recent sale follows a previous private sale in September 2023, where the foundation sold 116 million OP tokens to seven private buyers. Similar to the current sale, details of the transactions were not extensively disclosed.

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Optimism Foundation continues to drive forward its mission through strategic token sales and development efforts. Stay updated on the latest news and developments in the cryptocurrency space right here on Global Crypto News.

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