Optimism Foundation proposes dedicating 50% of Superchain revenue to OP buybacks

Key points

• The buyback program is expected to deploy approximately 2.7k ETH (around $8 million) in OP purchases at current prices, potentially increasing demand and supporting the token's price.
• The proposal has faced some scrutiny from delegates concerned about bundling two distinct policy decisions into a single vote, which could impact the governance process.
• The buyback mechanism would operate on collected sequencer revenue from various chains, including Base, Unichain, Ink, World Chain, Soneium, and OP Mainnet, contributing to the treasury managed by Optimism governance.
• The program is set to continue for twelve months before re-evaluation, with initial operations executed by the Foundation under predetermined parameters, eliminating discretion.