# OPtimism token distribution: Phase 0

By [MasterMojo.eth](https://paragraph.com/@mastermojo) · 2022-05-20

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Optimism is starting to show signs of massive onboarding, transactions are increasing as people prepare to get their share of 36m [$OP](https://twitter.com/search?q=%24OP&src=cashtag_click) distributed to Optimism projects.

![Transactions and Total Addresses are rapidly increasing!](https://storage.googleapis.com/papyrus_images/2af36fdc81d999671e64cdfcb1bf23393ff9787dd76628467552192543a7fe8f.png)

Transactions and Total Addresses are rapidly increasing!

**BRIDGES:**

If you have your money on other Layer 1s, make sure you checkout all the different Optimism Bridges:

[https://www.optimism.io/apps/bridges](https://www.optimism.io/apps/bridges)

**OP TOKEN:**

Folks have been trying to analyze the price prediction per $OP token, and the general consensus is between $1 - $10, with upwards of $23 due to low liquid supply - [#L222](https://twitter.com/search?q=%23L222&src=typeahead_click)

[https://twitter.com/OlimpioCrypto/status/1526940448782266368](https://twitter.com/OlimpioCrypto/status/1526940448782266368)

To see the current list of protocols that are in [Phase 0 of the $OP Token distribution go here](https://docs.google.com/spreadsheets/d/1kiMnAKXTxrmoL7duvLrDlhMfa35HGE55QgUK0Rq2Sso/edit#gid=1014306106):

![](https://storage.googleapis.com/papyrus_images/1505eb182a3ce8af3c1022acecac17dda0f83ff1a6dc241ed2f03e5f33f4be7c.png)

A few projects have already announced how they plan to to allocate their share of [$OP](https://twitter.com/search?q=%24OP&src=cashtag_click), check them out below:

**SYNTHETIX:**

The heart and backbone of Optimism is being awarded 9 million $OP tokens. Current SIP#234 and SIP#242 discusses how [Synthetix](https://staking.synthetix.io/staking) will distribute these tokens.

[https://sips.synthetix.io/sips/sip-234/](https://sips.synthetix.io/sips/sip-234/)

![](https://storage.googleapis.com/papyrus_images/261a84f672558460f94a005940707f23d7f63206ebc1f398703d1468de2e5754.png)

SIP#242 provides more detail for liquidity incentives:

![](https://storage.googleapis.com/papyrus_images/a0f8f44af030fe4a36aded845a52dd79fce93912fb5b9dd8aac063b88dba1368.png)

The key takeaway with Synthetix is to **STAKE AS MUCH $SNX as you can!**

**Current yield (118.33%) plus OP Token Distributions = ALFA!**

![Current SNX staking yield](https://storage.googleapis.com/papyrus_images/a52a2a41c2ad87cc20d7a2bca13baa14a1c209ffd602680deb5f0532c673d454.png)

Current SNX staking yield

**LYRA:**

[Lyra](https://www.lyra.finance/) is getting 3 million $OP tokens to distribute. If you don’t know, Lyra is the first Optimism native project! Lyra has built a protocol, community and ecosystem on Optimism and has experienced the unique opportunities and the challenges of doing so in an Optimism native way. Lyra is an options AMM built on Optimism that offers deep liquidity across a wide range of strikes and expiries.

[https://twitter.com/0xmjs/status/1521605081250299904](https://twitter.com/0xmjs/status/1521605081250299904)

They have a proposal to the Optimism team on the forums here:

[https://gov.optimism.io/t/gf-phase-0-proposal-lyra-finance/202](https://gov.optimism.io/t/gf-phase-0-proposal-lyra-finance/202)

Their current distribution is divided into three groups; Builders, Liquidity, and Traders.

![](https://storage.googleapis.com/papyrus_images/f632b8b6da6c183eb21d7cbcf592670a4e37c9ffd442ea4a7786034854ea13f4.png)

![](https://storage.googleapis.com/papyrus_images/aab428647b396eef45567fe61092875ee0842d49fba81e655c87285626bd0ea8.png)

![](https://storage.googleapis.com/papyrus_images/232fcfe81d0756e7453dface58568b66826a0974ea4988761de7d217c1b004cd.png)

![](https://storage.googleapis.com/papyrus_images/bcea9982d0051b34ffa9baba614a18484e8c8074464c0b4a334db4da30fe1b00.png)

Head on over to Lyra’s website and start getting familiar with their protocol - so when the time comes you will be ready to trade and provide liquidity to get those $OP tokens!

[https://www.lyra.finance/](https://www.lyra.finance/)

If you are not familiar with Defi Options; I urge you to check out their [blog posts on understanding Options](https://blog.lyra.finance/tag/learn/)

**KWENTA:**

[Kwenta](https://kwenta.io/) is being distributed 900,000 $OP Tokens. They have a current KIP out that details the current proposal. Kwenta will leverage the $OP token to drive Optimism adoption while relying on Kwenta’s tokenomics and unique product offerings to retain those users who migrate.

[https://kips.kwenta.io/kips/kip-16/](https://kips.kwenta.io/kips/kip-16/)

![](https://storage.googleapis.com/papyrus_images/d58087cd81cf87417030b8ce48c36623568b55384ada5fabe0e79b5d69ef64e7.png)

A recent modification was mentioned in their discord where dYdX users who were left out of their token distribution due to geo-fencing are now being added to their $OP distribution!

![](https://storage.googleapis.com/papyrus_images/450aba479ec9f3edf893e93502586bf5e52341d85a82b7e2be18c721e43e2c1b.png)

[https://twitter.com/kwenta\_io/status/1519025824183296000](https://twitter.com/kwenta_io/status/1519025824183296000)

**POLYNOMIAL PROTOCOL:** Poly is getting distributed 900,000 $OP Tokens. Polynomial is built ontop of Lyra and Synthetix, and is a native Optimism project. Polynomial Earn is the first DeFi options vault that automates option strategies to earn yield, executing on-chain via an AMM on Optimism.

Their current proposal:

![](https://storage.googleapis.com/papyrus_images/2cad29574ab56f35e433168275b44ea9fe59349a6b652a377713fcc7bf3813db.png)

[https://twitter.com/PolynomialFi/status/1526334708073775104](https://twitter.com/PolynomialFi/status/1526334708073775104)

**STARGATE FINANCE:**

[Stargate](https://stargate.finance/) is eligible for 1 million $OP Tokens. They have submitted their [proposal, and it can be found here](https://gov.optimism.io/t/gf-phase-0-proposal-stargate-finance/721).

![](https://storage.googleapis.com/papyrus_images/5aaccb6300d7842249afd3edd93b1606d6fe278e03f9827b397017efe39b4e0b.png)

[https://twitter.com/StargateFinance/status/1526325737245900801](https://twitter.com/StargateFinance/status/1526325737245900801)

**PIKA PROTOCOL:**

[Pika](https://app.pikaprotocol.com/dashboard) is being awarded 900,000 $OP Tokens.

Their current proposal is listed here:

[https://hackmd.io/@ethdev007/BJbrEygPc](https://hackmd.io/@ethdev007/BJbrEygPc)

![](https://storage.googleapis.com/papyrus_images/bea1a34688d251b4494fe59945c6e794d4de694259f0afec96fc42c489165681.png)

![](https://storage.googleapis.com/papyrus_images/c229880b1758503f59d48f1af98794afe4371ebc80d3aad19582fb076ce7251f.png)

![](https://storage.googleapis.com/papyrus_images/b99416e017c864509c1ac146b9811ec0f69d46cb145b59530f9e6c259c62691e.png)

**PERPETUAL PROTOCOL:**

[Perp](https://app.perp.com/) is being awarded 9,000,000 $OP tokens. Their current Proposal is here:

![](https://storage.googleapis.com/papyrus_images/ab280bce31e5ee218677be8622386ffcccc6bfb2ded5f2584310f0596d0087c5.png)

[https://gov.optimism.io/t/gf-phase-0-proposal-perpetual-protocol/201](https://gov.optimism.io/t/gf-phase-0-proposal-perpetual-protocol/201)

**1INCH NETWORK:**

[1inch](https://app.1inch.io/) is being awarded 300,000 $OP Tokens.

Their current proposal is:

![](https://storage.googleapis.com/papyrus_images/70388a1950c668e6e74056d0b9bd8212a441d488f55a5365c37f9d70451e66e6.png)

and can be found here:

[https://gov.optimism.io/t/gf-phase-0-proposal-1inch-network/655/3](https://gov.optimism.io/t/gf-phase-0-proposal-1inch-network/655/3)

**THALES:**

[Thales](https://thalesmarket.io/) is getting distributed 900,000 $OP tokens. They are still discussing on their discord how they plan to distribute their tokens. Thales Market is a trading platform built on Optimism and Polygon. Thales utilizes an AMM to host pools of collateral that pay out to holders of winning Positional Tokens.

Head on over and see the latest discussion: [discord.gg/thales](https://t.co/p9Nnkt83VD)

Quick summary on OP distribution for Thales: If you use the protocol and stake you will get distributed $OP Tokens.

[https://twitter.com/thalesmarket/status/1524736147943051265](https://twitter.com/thalesmarket/status/1524736147943051265)

**AELIN PROTOCOL:**

Aelin just announced [AELIP-22 that covers their Optimism Proposal](https://aelips.aelin.xyz/aelips/aelip-22/). Checkout their genius idea below:

![](https://storage.googleapis.com/papyrus_images/04d5c87b8845e195fcd8952f6804091ea2f9622f12d0b395b68e024c19e0e7ce.png)

**SYNAPSE:**

Synapse Protocol is a cross-chain communications network used to seamlessly interconnect all blockchains. Synapse has been awarded 1 million $OP tokens during Phase 0.

![](https://storage.googleapis.com/papyrus_images/bb29fe6c90b6155f26f3156fd8ae90c0d069d097f3da07600ba7ea2730926d8f.png)

![](https://storage.googleapis.com/papyrus_images/485bbad4572b57238b92b45551d9a8a2b85597b7d3b93f4258c0132239909510.png)

![](https://storage.googleapis.com/papyrus_images/6157270def864ca6f6b51d04f34c0cdacb92591d9b0ff9834726f8692bf0184d.png)

Their proposal can be found here:

[https://gov.optimism.io/t/gf-phase-0-proposal-synapse-protocol/928](https://gov.optimism.io/t/gf-phase-0-proposal-synapse-protocol/928)

**GELATO:**

Gelato is web3’s leading smart contract automation protocol. They provide a decentralised network of bots used by web3 developers to automate smart contract executions on public EVM compatible blockchains - including Optimism. They are getting 300,000 $OP tokens distributed to them. Their proposal can be found here:

[https://gov.optimism.io/t/gf-phase-0-proposal-gelato/873](https://gov.optimism.io/t/gf-phase-0-proposal-gelato/873)

**CONNEXT:**

Connext (connext.network) is a cross chain protocol that allows users to quickly and inexpensively transfer tokens and data across chains, and builders to create secure cross chain applications. It’s intended for high-frequency transfers and works by leveraging liquidity pools provided by routers on the sending and receiving chains without introducing any new trust assumption.

Connext has been the first protocol to connect Optimism and Arbitrum in a trustless way back in 2020.

Their OP Proposal can be found here:

![](https://storage.googleapis.com/papyrus_images/124fb0f10a41ed1e141128dfb43d39bcbd6777b768d8f190f5a32469aaebd54d.png)

[https://gov.optimism.io/t/gf-phase-0-proposal-connext/851](https://gov.optimism.io/t/gf-phase-0-proposal-connext/851)

**WEPIGGY:**

WePiggy is a multi-chain lending protocol. They are receiving 300,000 $OP tokens.

![](https://storage.googleapis.com/papyrus_images/698c77d4a70753bb86b39fd35cba0a5a4d5612d3475814131ef02100e757c2af.png)

Link to proposal:

[https://gov.optimism.io/t/gf-phase-0-proposal-wepiggy/437](https://gov.optimism.io/t/gf-phase-0-proposal-wepiggy/437)

**IN THE AIR:**

This article is constantly being updated as new information is received, so make sure you come back and check on the other protocols that have not yet disclosed how they plan to distribute their $OP Tokens.

_Projects not yet giving details about how they plan to distribute $OP tokens:_

[Layer2DAO](https://www.layer2dao.org/#/), [Hop Protocol](https://hop.exchange/), Chainlink, [Aave](https://aave.com/), [Uniswap](https://app.uniswap.org/#/swap), and a few other non-OP native projects.

**FOOD FOR THOUGHT:**

I 100% guarantee you once you try out what Synthetix, Lyra, Kwenta, Thales, Aelin, Polynomial, and other projects on Optimism are doing - you will not want to leave this ecosystem.

This $OP airdrop/distribution was well thought out by the team, and encourages users to stay within the ecosystem. With that - enjoy the experience and stick around!

**Tip**: If you feel the need to tip - send any token on Optimism to my address: mastermojo.eth. I will use it to help fund a return trip with my boys in 2024 to Washington, where we will hike the Mt. Baker area again!

![](https://storage.googleapis.com/papyrus_images/a0b3268373544e7a2e0b909ac8e91bd8e11e6da74fc76605ac16aa99adc0e3f8.png)

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*Originally published on [MasterMojo.eth](https://paragraph.com/@mastermojo/optimism-token-distribution-phase-0)*