op

Optimism’s Next Chapter
Over the past five years, the OP Stack has evolved from an experimental Ethereum scaling solution into the go-to infrastructure for serious builders. Exchanges, enterprises, and blue-chip institutions are increasingly standardizing on the Superchain, drawn by its combination of security, scalability, and economic clarity. These features make it ideal for supporting some of the world’s most liquid markets.
The Superchain currently captures 61.4% of the Layer 2 fee market and processes 13% of all crypto transactions, with adoption continuing to grow. As the network expands, it is clear that the OP token should evolve in parallel, aligning with the momentum and real usage across the Superchain ecosystem.

Evolving the Role of OP
The Optimism Foundation earns revenue from the Superchain, a network of Layer 2 chains built on the OP Stack. Key chains include Base (Coinbase), Unichain (Uniswap), Ink, World Chain, Soneium, OP Mainnet, and numerous others. All contributing chains share a portion of their sequencer revenue with Optimism, feeding a treasury managed under governance. Over the past twelve months, Optimism has collected 5,868 ETH in revenue, which has been dedicated entirely to this treasury.
With the proposed plan, 50% of incoming Superchain revenue will be used to buy back OP tokens. This mechanism ties OP’s value directly to network activity: the more transactions, chains, and builders on the Superchain, the stronger the demand for OP.
This buyback program transforms OP from a pure governance token into a token tightly aligned with the growth and success of the Superchain. As more enterprises deploy new chains, as builders adopt OP Mainnet, and as transactions increase across the network, the buyback mechanism expands proportionally, creating a self-reinforcing cycle of growth and value capture.

How the Buyback Works
Under the proposal, 50% of Superchain revenue will be used to repurchase OP tokens on a monthly basis over the next year. Tokens purchased through this program will return to the treasury, where they can be burned or distributed as staking rewards, depending on the platform’s evolution. Governance retains oversight of all buyback parameters, ensuring flexibility and accountability.
The proposal also allows the Optimism Foundation to manage the remaining ETH revenue not allocated to buybacks. Combined with the current staking program, this creates a more active treasury management system, designed to grow the shared economies of the Superchain and support long-term sustainability.
Aligning Incentives
The Superchain operates on a self-reinforcing flywheel: usage generates revenue, revenue funds development, and development drives more usage. By directing a portion of this revenue to OP token buybacks, the proposal ensures that users, developers, infrastructure providers, and tokenholders are all contributing to the same ecosystem. OP becomes the shared reference point, benefiting directly as the Superchain expands and matures.

Next Steps
The OP Stack is increasingly serving as the settlement layer for the next generation of financial systems. By linking OP’s value directly to the Superchain, this proposal positions the token to capture value alongside network growth, providing both utility and strategic alignment for all stakeholders.
The governance proposal is scheduled for a vote on January 22. If approved, the buyback program will launch in February, marking a new chapter for the OP token and the Optimism ecosystem.

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