1. What is Optimism (OP)?
Optimism is an Ethereum layer 2 based on Optimistic Rollups, developed by OP Labs, with governance managed by the Optimism Foundation in the source's description. This March 2026 guide gives its mainnet launch as December 2021 and describes Optimism and Arbitrum as the two leading forces in Ethereum L2s.
The key distinction is OP Stack, an open-source L2 framework. Coinbase used it to build Base, helping OP Stack become a standard for constructing L2s. The strategy is to provide the infrastructure underlying many L2s, rather than compete only as one chain.
Optimism returns part of protocol revenue to public-goods developers through Retroactive Public Goods Funding (RPGF). Rewarding past contributions to Ethereum's ecosystem is presented as an innovative governance experiment.
📊 OP key facts in this guide
• Ticker: OP
• Launch: December 2021 mainnet; May 2022 token
• Type: Ethereum L2 Optimistic Rollup
• Total supply: Approximately 4.29 billion OP, including the source's inflation context
• OP Stack adoption: More than 20 chains, including Base, Zora, Mode and Worldcoin
• Superchain: An integrated network of OP Stack chains
• Upbit/Binance: Listed on both
2. OP Stack and Superchain
1. OP Stack: A framework for building L2s
OP Stack is a modular, open-source framework for building a custom L2. Its main components include an EVM-compatible execution layer, Ethereum settlement, consensus and data availability. Modules can be replaced to customize the chain.
Major adopters listed in the guide include:
- Base, from Coinbase: The L2 of the largest US exchange in the source's description, with rapid growth in 2024–2025.
- Worldcoin's World Chain: The chain for Sam Altman's identity project.
- Zora: An NFT-focused L2.
- Mode: A DeFi-focused L2.
- Lisk: A former sidechain project that migrated to OP Stack.
2. Superchain: An integrated L2 network
Superchain is the vision of connecting OP Stack chains into one network. The source describes shared sequencing, cross-chain messaging and shared security making the chains function like a single chain.
3. The Bedrock upgrade
Bedrock, introduced in 2023, is described as Optimism's most important technical upgrade. The guide reports a 47% gas-cost reduction, substantially improved node performance and completion of OP Stack's modular design.
3. The relationship with Base
Coinbase's Base uses OP Stack and has a revenue-sharing agreement with Optimism:
- The source describes payment to the Optimism Collective of the greater of 2.5% of Base sequencer revenue or 15% of on-chain revenue.
- In return, Base receives an allocation of OP tokens for governance participation.
- This federation model links wider OP Stack adoption to growing Optimism revenue.
💡 OP Stack as infrastructure
The source praises Optimism's decision to become an infrastructure provider rather than compete only for TVL. In this thesis, Base's success and Worldcoin's growth also benefit OP. It characterizes Arbitrum as an L2 participant and Optimism as aspiring to be an L2 platform.
4. Tokenomics
- Initial supply: Approximately 4.29 billion OP.
- Inflation: 2% annually in the source, subject to governance changes.
- Allocation: Airdrops 19%; ecosystem fund 25%; RPGF 20%; core contributors 19%; investors 17%.
- Uses: Governance voting, airdrop incentives and RPGF rewards.
5. RPGF and governance
Retroactive Public Goods Funding
RPGF is a governance experiment that rewards projects and individuals after they contribute to Ethereum's ecosystem. Its philosophy is that future value is hard to predict, but past contributions can be assessed. The guide describes rounds distributing tens of millions of dollars' worth of OP.
Two-house governance
Optimism has a Token House, where OP holders vote, and a Citizens' House, a citizen body managing RPGF in the source's description.
6. Ecosystem
- Velodrome: Described as Optimism's largest DEX, using a ve(3,3) model.
- Aave: A lending and borrowing protocol.
- Synthetix: A synthetic-asset protocol and flagship Optimism DApp in the guide.
- Kwenta: Futures trading based on Synthetix.
- Sonne Finance: A native lending protocol.
7. Investment outlook
Potential positives
- OP Stack adoption: The thesis that adoption by Base, Worldcoin and others increases revenue.
- Superchain: An integrated L2 network that can strengthen network effects.
- Revenue sharing: Fees from participating chains return to the OP ecosystem.
- RPGF: Public-goods funding supporting long-term ecosystem health.
Potential negatives
- Lower TVL than Arbitrum: The source places Optimism behind Arbitrum in DeFi TVL.
- Token unlocks: Gradual release of investor and team allocations.
- ZK-rollup competition: The possibility that ZK technology replaces optimistic approaches over time.
8. Risks
⚠️ Before investing
• The guide records a substantial decline from OP's all-time high.
• Pay attention to token unlock schedules.
• Delivery of the Superchain vision remains under evaluation in the source.
• The source suggests limiting the investment to 10% of a portfolio.
• This article is informational, not investment advice.
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