If you are a holder of $OP, this is for you:
- Mark your calendars for May 31st! A substantial amount of $OP, totaling 154.6M ($252M), will be unlocked after just one day. This represents 3.6% of the total supply and a significant 46% of the circulating supply.
- The unlocked $OP tokens will be distributed as follows: 81.6M ($133M) to core contributors and 73M ($119M) to investors.
- Noteworthy funding rounds for #Optimism include: $3.5M raised in the Seed Round on December 15, 2020, $25M raised in the Series A Round on February 24, 2021, and a substantial $150M raised in the Series B Round on March 17, 2022.
- Prominent investors, such as Paradigm, IDEO CoLab Ventures, and Andreessen Horowitz (a16z), have contributed to the success of #Optimism
- The total financing amounts to an impressive $178.5M and will allocate a total of 730M $OP tokens, representing 17% of the overall supply.
- With an estimated average cost of $0.2445 per $OP token to investors, the current price of $1.63 suggests a potential 6x return on investment.
- It's worth noting that token unlocks often coincide with significant selling pressures as some investors look to offload their holdings.
Given this information, do you perceive this upcoming unlock as a bullish or bearish event for #Optimism and the $OP token?