$OP The OP token is the native cryptocurrency of the Optimism network, a Layer 2 scaling solution for Ethereum. Here's a breakdown:
Name: OP (Optimism token)
Purpose: Governance and funding development on the Optimism network
Utility:
Governance: OP holders can vote on protocol upgrades, ecosystem incentives, and how funds are allocated from the Optimism Collective.
Incentives: Used to reward users, developers, and projects that contribute to the ecosystem.
Optimism itself is designed to reduce fees and increase speed for Ethereum transactions by processing them off-chain and then posting the data to Ethereum.
