Gate.io Podcast | Optimism Collective & Future Airdrops Explained, Musk’s Twitter Acquisition Details, Bored Ape Yacht Club Instagram Hacked

2022-04-27, 06:40

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[![](https://gimg2.gateimg.com/image/article/16506012440421LinearFinance_en.jpg)](https://gimg2.gateimg.com/image/article/16506012440421LinearFinance_en.jpg)

This episode is brought to you by [Gate](https://www.gate.io/ "Gate").io and Linear Finance ([Airdrop](http://gate.io/article/26270?e/26270?ch=lina26270twi#giveaway "Airdrop")). Twitter finally confirmed it: Elon Musk is delivering on his promise to buy Twitter and take it private; The Shib Army is burning SHIB tokens in exchange for RYOSHI tokens; Polygon has revealed Polygon Supernets, a project powered by Edge, a customizable blockchain stack, with fewer complexities; Meanwhile, the European Central Bank called for tighter and coordinated global crypto regulation and New York Senator drafted up a bill to make rug pulls illegal; Following the Ronin Bridge exploit, news have surfaced about BAYC getting hacked multiple times this month. Finally, in today’s deep dive, the Ethereum L2 Scaling Solution: Optimism will be explained in-depth along with some clues about its future airdrops and token allocations.

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### In today’s Headlines:

Twitter Accepts Elon Musk's $54.20-a-Share Buyout Offer | [1](https://www.coindesk.com/business/2022/04/25/twitter-accepts-elon-musks-5420-a-share-buyout-offer/ "1") | [2](https://elon-musk.gbahacks.online/2022/04/tesla-bull-details-elon-musks-moves.html "2") | [3](https://www.politico.com/news/2022/04/25/elon-musk-is-buying-into-a-new-kind-of-fight-in-washington-00027654 "3") | [4](https://techcrunch.com/2022/04/25/its-elons-twitter-now-so-whats-next/ "4") |
Shiba Inu Owners Flock to Burn Portal With 11B Tokens Removed | [1](https://cryptopotato.com/shiba-inu-launches-shib-burning-portal-what-does-it-mean/ "1") | [2](https://www.coindesk.com/markets/2022/04/25/shiba-inu-owners-flock-to-burn-portal-with-11b-tokens-removed/ "2") | [3](https://burn.shibaswap.com/ "3") |
Polygon (MATIC) Throws In $100 Million To Expand Its Supernets Network | [1](https://blog.polygon.technology/introducing-polygon-supernets-powered-by-polygon-edge-100m-ecosystem-fund/ "1") | [2](https://coingape.com/polygon-matic-throws-in-100-million-to-expand-its-supernets-network/ "2") | [3](https://news.[Bitcoin](https://www.gate.io/trade/BTC_USDT) | 
ECB board member calls for tougher, coordinated global regulation for crypto | [1](https://www.coindesk.com/policy/2022/04/25/ecbs-panetta-blasts-crypto-as-ponzi-scheme-fueled-by-greed/ "1") | [2](https://www.theblockcrypto.com/post/143308/ecb-member-calls-for-tougher-coordinated-global-regulation-for-crypto "2") | 
NY Sen. Thomas proposes to criminalize rug pulls and other crypto frauds | [1](https://cointelegraph.com/news/ny-sen-thomas-proposes-to-criminalize-rug-pulls-and-other-crypto-frauds "1") | [2](https://cryptopotato.com/criminalizing-rug-pulls-senator-kevin-thomas-proposes-new-regulations/ "2") | 
Bored Ape Yacht Club Instagram Hacked, NFTs Worth Millions Stolen | [1](https://www.theblockcrypto.com/post/143328/bored-ape-instagram-account-hacked-nfts-worth-2-8-million-stolen "1") | [2](https://www.vice.com/en/article/88gpxg/bored-ape-yacht-club-instagram-hacked-nfts-worth-millions-stolen "2") | [3](https://cointelegraph.com/news/apecoin-price-breakout-stalls-after-2-4m-bayc-nft-robbery-what-s-ahead "3") |

Sponsor: Linear Finance ([Airdrop](http://gate.io/article/26270?e/26270?ch=lina26270twi#giveaway "Airdrop"))
Deep Dive: A New Chapter for Ethereum Layer 2 Scaling Solution: Optimism Explained | [OP Airdrop ](https://app.optimism.io/governance "OP Airdrop ")| [1](https://www.gate.io/blog_detail/885/optimism-released-an-article-to-recall-the-course-of-the-project-maybe-will-airdrop-management-tokens "1") | [2](https://optimism.mirror.xyz/Fdpds7l4yE2VDpLN4AZQUCjpBYdoPrIHw6a4uzUepmw "2") | [3](https://decrypt.co/resources/what-is-optimism-using-rollups-to-help-scale-ethereum "3") | [4](https://thedefiant.io/optimism-op-airdrop/ "4") | [5](https://community.optimism.io/docs/governance/allocations/# "5") |

### Introduction:

Welcome back to the Altcoin News Podcasts. I’m Peter, this is the show to get a neutral perspective on some of the latest headlines in DeFi, Metaverse, NFTs, and Big Tech. Brought to you by Gate.io, a centralized exchange with a neutral stance on current events and uphold privacy & security.

The information presented in this podcast is to help you stay up-to-date on the latest happening in the crypto space, and nothing presented hereby is financial advice. The news that I cover in this podcast will have the original source at your discretion. Stick by this podcast as I show you how to stay vigilant and learn to do your own research.

Now, without further ado.

### Twitter Accepts Elon Musk's $54.20-a-Share Buyout Offer |  [1](https://www.coindesk.com/business/2022/04/25/twitter-accepts-elon-musks-5420-a-share-buyout-offer/ "1") | [2](https://elon-musk.gbahacks.online/2022/04/tesla-bull-details-elon-musks-moves.html "2") | [3](https://www.politico.com/news/2022/04/25/elon-musk-is-buying-into-a-new-kind-of-fight-in-washington-00027654 "3") | [4](https://techcrunch.com/2022/04/25/its-elons-twitter-now-so-whats-next/ "4")  |

According to a press release published on PR Newswire, Twitter, Inc. has announced yesterday that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion. Upon completion of the transaction, Twitter will become a privately held company.

The purchase price represents a 38% premium to Twitter's closing stock price on April 1, 2022, which was the last trading day before Musk disclosed his approximately 9% stake in Twitter.

Tesla bull Dan Ives of Wedbush Securities commented that Musk’s moves over the past few weeks essentially backed the Twitter board into a corner, forcing them to meet at the negotiation table this past weekend. Musk, who put an offer in for Twitter on Thursday, April 14, finally came to terms with the Twitter board after pushback, including the use of a “poison pill” that offered current shareholders the opportunity to buy more at a discounted price.

Twitter looked to use the poison pill or eventually sell to a bidder that would come in with an even higher offer than Musk. Unfortunately for the board, their wish never came true, and they were forced to meet with Musk this past weekend, realizing the deal was in the best interest of the shareholders.

The transaction, which has been unanimously approved by the Twitter Board of Directors, is expected to close in 2022. The founder of Tesla has secured $25.5 billion of fully committed debt and margin loan financing and is providing an approximately $21.0 billion equity commitment.

Tesla’s market capitalization is now down more than $275 billion since April 4, when Musk disclosed that he increased his Twitter stake, representing a drop of roughly 23%.

The dollar value of Musk’s 17% stake in Tesla has shrunk by more than $40 billion, almost double the equity portion he pledged in the Twitter transaction.
Musk isn’t doing Tesla any favors, either, by providing scant details on how he will cover the $21 billion equity piece that he personally guaranteed. What’s known is that Musk is using Tesla shares as collateral in the transaction. That has led to investor worry that the Tesla chief executive may sell some of his stake to fund the Twitter acquisition. Those concerns are “causing a bear festival in the name,” Wedbush analyst Dan Ives said.

Coming back to Twitter, especially regarding its future, there still remain so many open questions about how the company will change under Elon Musk’s leadership. Will he make it better, using his keen intelligence and business savvy to drive changes that have been overdue for years, or will he try to remove some of the safeguards against harassment and misinformation that have been put in place to take the edge off its worst impulses?

In the worst case, Musk could make Twitter his own personal social playground. In the best, he will work to improve some of the longstanding problems that have plagued the platform for years. In a statement on the deal Musk said that he wants to “make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.”

There’s also another problem. Musk hasn’t been shy about his disdain for the SEC. With his Twitter acquisition, the billionaire who founded Tesla and SpaceX has cast himself as a central player in Washington’s most contentious political battles — a role that could bring him a whole new level of blowback.

Lawmakers in both parties have made irreconcilable demands of social media networks like Twitter, with Republicans calling for less “censorship” while Democrats demand that the platforms crack down on misinformation and hate speech. That means Musk will aggravate at least one party no matter what speech-related decisions he makes.

Whether Twitter users leave or stay, whether Musk is benevolent dictator or despot, whether he’ll get into another political turmoil that comes with hefty fines, only time will tell. All we know now is that he intends to own Twitter, and he will be mostly free to do what he wants with it, for better or worse.

### Shiba Inu Owners Flock to Burn Portal With 11B Tokens Removed | [1](https://cryptopotato.com/shiba-inu-launches-shib-burning-portal-what-does-it-mean/ "1") | [2](https://www.coindesk.com/markets/2022/04/25/shiba-inu-owners-flock-to-burn-portal-with-11b-tokens-removed/ "2") | [3](https://burn.shibaswap.com/ "3") |

A new burning mechanism launched by developers of Shiba Inu will reward community members who burn the protocol’s native SHIB tokens on its ShibaSwap exchange platform.

The Shiba Inu burning portal is a functionality that enables users to send their SHIB tokens to a burn address. This is a wallet from which SHIB will no longer be retrievable, meaning that once the tokens are sent there, they can never be retrieved again – they’re going to be gone forever.

Crypto projects may burn tokens to reduce supply, which could lead to increased prices in the future as tokens become more scarce. But this is entirely theoretical, and there’s nothing guaranteed – fixed or reducing supply doesn’t necessarily translate to increased value, meaning that the outcome of the burning portal is yet to be seen.

While the community already burns tokens, the portal incentivizes the process for users. It allows users to send SHIB tokens to a dead wallet address and in exchange sends “burntSHIB” tokens to users.
These can then be staked to generate rewards for users in the form of RYOSHI tokens, a separate token created by the Shiba Inu community.

Some 16.8 billion SHIB tokens have been burned since the portal started operation on Sunday. This amounts to just over $393,000 at current prices. Participants are earning current annualized yields of 5.76% at writing time, data from ShibaBurn shows.

SHIB is currently trading at 0.00002339 on Tuesday, which is actually lower than the price on Sunday when it launched the burning mechanism.
Transition—-------

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### Polygon (MATIC) Throws In $100 Million To Expand Its Supernets Network |  [1](https://blog.polygon.technology/introducing-polygon-supernets-powered-by-polygon-edge-100m-ecosystem-fund/ "1") | [2](https://coingape.com/polygon-matic-throws-in-100-million-to-expand-its-supernets-network/ "2") | [3](https://news.[Bitcoin](https://www.gate.io/trade/BTC_USDT) |

Polygon has revealed a new project called Supernets after launching Polygon Edge last year. Essentially, Polygon Edge is a customizable blockchain stack that allows users to launch dedicated blockchain networks that do specific things. Following the Edge launch 11 months ago, the team has revealed Polygon Supernets, a project powered by Edge with fewer complexities. While Supernets still uses Edge, the latest rollout offers “several important characteristics” that mitigate complexities involved with Edge.

The team noted that Supernets can be built to run a specific application, project, or use case while being secured by the Polygon protocol, maintained by certified partners, and receiving further upgrades from the Polygon Edge architecture. Supernets are also compatible with each other and the Ethereum blockchain by default.

“We envision Polygon as a massively scalable, interconnected multi-chain system, and we are announcing a $100M fund to ignite this vision,” the team said.

According to Friday’s Supernets announcement, the $100 million will be distributed for things like development contracts, research contracts, grants, third-party integrations and partnerships, onboarding and migration, liquidity mining, and acquisitions.
Interested project teams can apply for funds to aid their R&D, project onboarding, liquidity mining, third-party integration, and acquisition while building a Supernet.

### ECB board member calls for tougher, coordinated global regulation for crypto | [1](https://www.coindesk.com/policy/2022/04/25/ecbs-panetta-blasts-crypto-as-ponzi-scheme-fueled-by-greed/ "1") | [2](https://www.theblockcrypto.com/post/143308/ecb-member-calls-for-tougher-coordinated-global-regulation-for-crypto "2") |

European Central Bank Executive Board member Fabio Panetta on Monday called for new global standards to regulate crypto assets, and also suggested they could be taxed more heavily given their high energy consumption.

In his remarks, he said crypto requires a heavier regulatory burden since it has yet to deliver on its promised philosophy of truly decentralized, trustworthy money, adding that crypto-assets were harmful to society and without social or economic value.

At $1.3 trillion, the crypto market is now larger than the sub-prime mortgage market was at the time of its collapse, and according to Panetta, the bubble could burst, comparing crypto dynamics to a “Ponzi scheme.”

Panetta also cited energy and environmental concerns over proof-of-work mining as well as crypto's potential use as a tax evasion and sanctions evasion tool.

Panetta has also been a keen proponent of the ECB issuing a digital euro – perhaps in part because a central bank digital currency could stave off the need for private-sector stablecoins such as [Tether](https://www.gate.io/trade/USDT_USDT) (USDT) – but has also called for a crackdown on the crypto market more generally.

Panetta advocated for additional mandatory disclosure and transparency requirements for crypto firms and the strengthening of public authorities to detect illicit trades and emerging threats.

[Tether](https://www.gate.io/trade/USDT_USDT), the issuer of USDT, has faced legal proceedings regarding the exact content of its reserves – and Panetta warned that holders suddenly seeking to redeem their assets could spread turbulence to commercial debt and banking markets. He added there needed to be an upgrade of disclosure requirements that are at present “highly problematic.”

### NY Sen. Thomas proposes to criminalize rug pulls and other crypto frauds | [1](https://cointelegraph.com/news/ny-sen-thomas-proposes-to-criminalize-rug-pulls-and-other-crypto-frauds "1") | [2](https://cryptopotato.com/criminalizing-rug-pulls-senator-kevin-thomas-proposes-new-regulations/ "2") |

Rug pulls have grown to become a menace in the space of decentralized finance and have resulted in hundreds of millions stolen from users.

A rug pull is a term used to define a type of scam where the team behind a project runs away with investors’ funds by draining the liquidity of the trading pool, essentially leaving holders with illiquid tokens that can’t be sold.

The bill drafted by New York State Senator Kevin Thomas, Senate Bill S8839, calls for defining, penalizing and criminalizing frauds specifically targeted at developers and projects that intend to dupe crypto investors.

These include but are not limited to virtual token fraud, rug pulls, private key fraud, as well as fraudulent failure to disclose an interest in virtual tokens.

Private key fraud involves disclosing or misusing another person’s private keys without prior affirmative consent. The bill also seeks to charge developers with fraudulent failure to disclose an interest in digital tokens that don’t publicly disclose personal crypto holdings on the landing page of the primary website.

Through the bill, Thomas seeks to provide prosecutors with a clear legal framework against crypto crimes that align with the spirit of the blockchain while combatting fraud. It calls for a law amendment that will imply rug pull charges on developers that sell “more than 10% of such tokens within five years from the date of last sale of such tokens.”

### Bored Ape Yacht Club Instagram Hacked, NFTs Worth Millions Stolen | [1](https://www.theblockcrypto.com/post/143328/bored-ape-instagram-account-hacked-nfts-worth-2-8-million-stolen "1") | [2](https://www.vice.com/en/article/88gpxg/bored-ape-yacht-club-instagram-hacked-nfts-worth-millions-stolen "2") | [3](https://cointelegraph.com/news/apecoin-price-breakout-stalls-after-2-4m-bayc-nft-robbery-what-s-ahead "3") |

On Monday, the Bored Ape Yacht Club NFT project announced that its Instagram account had been hacked. The hacker has stolen 134 NFTs worth at least $2.8 million through a phishing attack targeting BAYC owners.

When the Instagram account was accessed, it was used to post a fake update claiming there was a LAND airdrop and users had to connect their wallets to claim the airdrop. This was taking advantage of the Bored Ape roadmap, which includes a metaverse game that will contain virtual land. When users connected to their wallets — and likely approved a transaction — the website stole their NFTs.

A spokesperson for Yuga Labs, the company that created Bored Ape Yacht Club, said in a statement that “the hacker posted a fraudulent link to a copycat of the Bored Ape Yacht Club website, where a safeTransferFrom attack asked users to connect their MetaMask to the scammer’s wallet in order to participate in a fake Airdrop. At 9:53am ET, we alerted our community, removed all links to Instagram from our platforms and attempted to recover the hacked Instagram account.”

In a tweet, independent blockchain detective Zachxbt shared a link to the hacker's Ethereum address, which is currently labeled as being a phishing address on Etherscan.

Blockchain records show that the stolen assets include numerous NFTs from Yuga Labs, the firm behind BAYC, including Bored Ape, Mutant Ape, and Kennel Club NFTs. The value of those NFTs before they were stolen was $2.7 million.

APE, which serves as a governance token to BAYC's decentralized autonomous organization ApeCoin DAO, dropped by nearly 11% to $17.41 this April 26.

The incident is the latest high-profile NFT theft to occur following the hacking of a BAYC-related platform. Earlier in April, Bored Ape’s Discord server was hacked and a similar phishing attempt was made but the hacker only succeeded in stealing one Mutant Ape. Although many Bored Ape holders have lost their NFTs due to a variety of other phishing attacks and NFT marketplace issues.

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### Sponsor | Linear Finance

Before I continue with today’s Deep Dive, I must tell you about today’s sponsor.

Linear Finance is a distributed protocol that is compatible with multiple chains and majors with synthetic assets. One of the ways the project achieves this is by enabling investors to save on transaction fees and reduce the time it takes to bring an investment position to life.

The project’s white paper stresses delta-one and synthetic assets. In derivatives, delta-one means that a change in the price of the underlying asset ignites the same change to the product. Synthetic, on the other hand, are assets that derive their value from other assets. Examples of synthetics include futures and options. In the crypto world, synthetic assets enable investors to interact with cryptocurrencies without necessarily holding them.

These assets are also known as liquids because they can easily be converted to cash. The Linear protocol supports liquids in cryptocurrencies, crude oil, coffee, market indices, e-sports, among others.

The project is led by Drey Ng and Kevin Tai. Drey has an MS in Computer Science from the University of Hong Kong, while Kevin has a Harvard Business School MBA; both founders have worked extensively in tech and finance, with Drey currently serving as CPO at Liquefy and Kevin whose past roles include being vice president of structured products at Credit Suisse.

Linear is governed by the LinearDAO. It’s responsible for handling essential platform designs, as well as system parameters like $LINA rewards and frequency, pledge ratio, the introduction of new functionality, technology roadmap, and split of transaction fees.

Now to its tokenomics, the $LINA token is used on the network to back collateralized debts, as well as physical and digital assets. Holders of the token can access Linear USD (LUSD) which can be used to interact with Linear liquids on the Linear exchange. Additionally, token holders contribute to governance decisions such as which assets to be listed, and distribution models.

Be sure to check out the de_script_ion below because we’re giving away 59,000 $LINA tokens via airdrops between April 21st to the 28th. If you happen to win, the first thing you should do is to evaluate Linear’s staking mechanism. Of course, this isn’t financial advice and you’re free to do as you will.

But just to give you some ideas, $LINA stakers earn rewards on either pro-rata exchange fees or an inflationary reward basis. For the first option, the rewards are attained on a weekly basis, and the calculation is done while considering the stakers’ pledge ratio. Other ways stakers earn rewards are via yield farming, a positive variation of the pledge ratio, and providing liquidity on the Linear pool.

------------

### DD | A New Chapter for Ethereum Layer 2 Scaling Solution: Optimism Explained | [OP Airdrop ](https://app.optimism.io/governance "OP Airdrop ")| [1](https://www.gate.io/blog_detail/885/optimism-released-an-article-to-recall-the-course-of-the-project-maybe-will-airdrop-management-tokens "1") | [2](https://optimism.mirror.xyz/Fdpds7l4yE2VDpLN4AZQUCjpBYdoPrIHw6a4uzUepmw "2") | [3](https://decrypt.co/resources/what-is-optimism-using-rollups-to-help-scale-ethereum "3") | [4](https://thedefiant.io/optimism-op-airdrop/ "4") | [5](https://community.optimism.io/docs/governance/allocations/# "5") |

Why is Optimism a big deal?
Ethereum has grown to become the second largest cryptocurrency by market capitalization, thanks largely to its support for smart contracts—which underpins a growing ecosystem of decentralized applications (dapps) and decentralized finance (DeFi) platforms.

But it suffers from a problem: it’s slow and expensive to use, thanks to persistently high transaction fees. While the Ethereum fraternity waits for the roll-out of planned upgrades to the network that will address these issues, scaling solutions have emerged to make Ethereum transactions faster and cheaper.

Optimism is one such scaling solution. At present, the Optimism project has more than 40 employees and has plenty of funding to carry its work forward; in March 2022, it closed a $150 million Series B funding round led by Andreessen Horowitz and Paradigm, which saw the startup valued at $1.65 billion.

What is Optimism though?
Optimism speeds up Ethereum transactions and cuts their costs by settling them on another blockchain using advanced data compression techniques.

It uses a technique called optimistic rollups, whereby multiple transactions are combined or “rolled-up” into one transaction, settled on another blockchain, with receipts fed back to the main Ethereum blockchain.

Optimistic rollups are a type of rollup that ‘optimistically’ assumes all transactions in the rollup are valid. This saves time, since individual transactions do not have to be submitted with direct proof of their validity. Validators in the rollup have a week to query the entire rollup if they believe that it contains fraudulent data.

Optimism is basically a big append-only list of transactions. All of its rolled-up blocks are stored on an Ethereum smart contract called the Canonical Transaction Chain.

Unless a user submits their transaction directly to the Canonical Transaction Chain, new blocks are produced by something called a sequencer. This sequencer instantly confirms valid transactions, then creates and executes blocks on Optimism’s layer 2—a blockchain that sits atop the L1 blockchain, in this case Ethereum.

Optimism’s layer 2 software is designed to mimic Ethereum’s code as much as possible. It uses, for instance, the same virtual machine as Ethereum, and charges for gas in the same way (albeit at a lower rate, thanks to its optimistic rollup solution).

Because Ethereum and Optimism are so similar under the hood, you can send any ERC-20 asset—a cryptocurrency compliant with the generic Ethereum token standard—between the two networks.

Who are the Competitors?
The protocol isn’t the only scaling solution to use optimistic rollups. Arbitrum and Boba Network also use the technique to help Ethereum users save on fees. Zero-knowledge rollups, another popular type of rollup, are used by [Loopring](https://www.gate.io/trade/LRC_USDT), Immutable X and ZKSync.

Like Arbitrum, Optimism doesn’t have a native cryptocurrency to pay for gas fees. It uses ETH—just like Arbitrum. And like Arbitrum, Optimism is in beta, and is not yet fully decentralized.

The New Chapter & Airdrop
On April 19, Optimism released an article titled "New Chapter" in its official mirror account, reviewing the roadmap of the project for more than a year, and said at the end of the article that "a new chapter driven by community ownership and community governance will be opened."

Today, on April 27, it announced that it has created its own DAO—known as the Optimism Collective—a bicameral governance system which will be tasked with increasing demand for the network—and will be airdropping OP tokens to 267,000 Ethereum wallet addresses.

For more info about the airdrop, check out the link in the de_script_ion below. Quoting Bobby Dresser, Optimism PBC's head of product, “the airdrop includes Gitcoin donors, bridge users, multisig signers, snapshot voters – even if you haven’t used OP, you should probably check whether you’re eligible.”

Optimism Collective Outlined
The Collective is split into two "houses."

One of the two houses will be governed by Optimism’s new OP token, which will be airdropped to early users. Qualifying activities include making transactions early or often on Optimism, and also actions unrelated to the L2 like Gitcoin donations, which facilitate public goods funding.

The Token House, as the token-governed branch of governance is called, will be able to vote on “protocol upgrades and project incentives as part of a Governance Fund,” said Optimism’s post outlining the new governance system.

The second house of the Collective, called the Citizens’ House, will be governed by what Optimism is calling “soulbound” NFTs. This means non-transferrable NFTs, meaning the token would act somewhat like a decentralized identity in the context of Optimism governance.

The Citizens’ House will be tasked with distributing “retroactive public goods,”  something Optimism has been working on for a while. This branch of governance will go live later in 2022.

Both houses will use quadratic voting, a concept championed by Ethereum creator Vitalik Buterin alongside academics Glen Weyl and Zoë Hitzig. It's designed to reduce the impact of large token holders. Whereas many DAO models allow one vote per token held, quadratic voting makes each additional vote more costly than the last. Therefore, to vote for something two times, for example, would not cost not two tokens but, say, five.

More on Airdrops
Optimism outlined that there will be “an entire season of airdrops,” rather than just one. In light of this, it’s likely that the amount of ETH locked on the L2 will grow as users interact with the protocols built on the network in hopes of receiving subsequent OP airdrops. At 228,000 ETH ($686M), the amount of Ether moved onto Optimism is at an all-time high as of Apr. 27.

Indeed, while 5% of the total OP supply has been allocated as part of this first airdrop, a further 14% of OP supply will be given out in the future, according to a chart of its token allocations.

Conclusion
To conclude, If Optimism is successful in driving more users to its network, its token launch could likely put pressure on other L2s like Arbitrum to follow suit.

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