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The Optimism Foundation announced it has entered into a private token sale of approximately 116 million $OP tokens, split among seven purchasers, for treasury management purposes. The tokens, which are worth around $161 million at the current price, are subject to a two-year lockup, during which the purchasers will be able to delegate the tokens to unaffiliated third parties for participation in governance.
The Optimism Foundation said that the tokens come from the unallocated portion of the $OP Token treasury, and are part of the Foundation's original working budget of 30% of the initial $OP token supply.
Related: Optimism Launched 3rd Round of $OP Airdrop to Active Governance Participants
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