Optimism Community Members Propose Punishment For Airdrop Dumpers As Token Drops 60% After Listing

Ethereum World News
Ethereum World News June 1, 2022
Updated 2022/06/01 at 7:01 PM
4 Min Read


  • The OP token dumped over 60% shortly after listing across centralized exchanges on May 31.
  • A few community members have posted suggestions on the project’s forum to stem future airdrop sell-offs.
  • One of the proposals suggests black listing these “Sybil” accounts from receiving future token incentives.
  • Another proposes more rigorous measures to combat dumpers.

Two members of the Optimism community have published action plans geared towards punishing dumpers of the recently launched OP token. The coin reportedly dipped over 60% a few hours after listing across centralized exchanges like Coinbase and Kucoin.

Pseudonymous community member 0xJohn submitted a proposal titled “Users who sold the initial OP airdrop should become ineligible for all future airdrops” shortly after the OP coin shed some price value after a number of airdrop claimers supposedly dumped their tokens.

OxJohn argued that these accounts/wallet addresses play no constructive role in Optimism governance and should be excluded from any further network incentives.

Hence, this proposal is to discuss excluding such accounts in all the future distribution of Optimism’s airdrop. Also, we can make a public list of accounts that engage in this behavior, so that other projects and DAOs can also choose to borrow from our work – I believe many projects will be interested in rewarding those who actually contribute to governance, rather than those who just see ownership given into a protocol as a short term liquidity bonus.

The community member also suggested that accounts with zero contribution to community and governance activities should also be excluded from future drops.

The proposal has received mixed reactions with some of the community in favor of the idea. Others maintained that users can do what they want with their tokens and punishing airdrop dumpers is unnecessary.

Cobie Thinks The Proposal Isn’t Strict Enough For Optimism Airdrop Sellers

One crypto proponent and community member called Cobie expressed massive support for the idea. However, Cobie believes that the proposal should champion more thorough consequences for those selling off their free tokens.

In a counter-proposal of sorts, Cobie suggested four key agendas to achieve desired results and promote more Optimism governance participation:

  • Increase the scope of the proposal
  • Increase the severity of the punishment
  • Also, cancel the airdrops of everyone that bought OP since the airdrop
  • Cancel the governance power of any token that has been sold.

Cobie’s proposal has been taken down on the community forum and the user took to Twitter to share their thoughts.

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