Coinbase Blockchain Plan Gets Warm Reception; Success Hinges On Converting Crypto Diehards

, and Curve. Many more are likely coming, as these platforms are starting to rival Ethereum for users.

Optimism conducted its first airdrop in May 2022, when it issued $200 million of op to almost 250,000 addresses. A second airdrop occurred last month and reached 300,000 users. In total, the asset has a fully diluted market capitalization of $11.9 billion, but a circulating supply of just $850 million. This relatively small float could feed a speculative frenzy, but that provides an attractive hook to those getting in early.

In addition, there is not much information available yet about how Coinbase will operate within Optimism’s governance structure. Right now that may not be much of an issue, as Coinbase’s activity in the near term will likely focus on launching Base , and adding users and developers. “We're working really closely with Optimism on the governance components, but we’re still in the test phrase,” says Pollak. “We'll be sharing more on governance, as we get closer to the main net launch .

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