Ethereum layer-2 scaling resolution Optimism has been overwhelmed with “all-time high demand” following the launch of its extremely anticipated airdrop on Wednesday.
Users racing to gather their tokens have been greeted with failed or delayed transactions because the Optimism crew raced within the background so as to add further capability to the community.
As beforehand reported in April, Optimism is airdropping the brand new OP governance token — over a number of phases — alongside the launch of a decentralized autonomous group (DAO) dubbed “The Optimism Collective.”
Nearly 250,000 addresses are in a position to obtain the airdrop, with the eligibility set for Optimism early adopters and common Ethereum customers, reminiscent of DAO voters, multi-sig signers and bridge customers.
According to Optimism Status, the mainnet skilled degraded efficiency for roughly three and a half hours, with the crew “provisioning more capacity” to resolve the difficulty. As a consequence, archive node performance stays briefly restricted till the community load subsides.
Optimism said on Twitter that it could take the teachings it discovered from the primary airdrop and apply them to the second spherical, whereas it is going to additionally publish an “extensive retrospective next week” detailing what went down.
“Wow, what a day. OP Drop #1 had a turbulent launch which we finally stabilized after more than five hours of non-stop work.”
There are numerous classes we discovered from this to use to Drop #2. We’ll be publishing an in depth retrospective subsequent week.
Iteration is core to the Optimism ethos and we all the time attempt to use right now’s classes to tomorrow’s issues.
— Optimism (✨_✨) (@optimismPBC) June 1, 2022
Twitter customers, reminiscent of OlimpioCrypto, have been the primary to announce the airdrop going stay earlier on Tuesday to their 35,400 followers, hours forward of Optimism formally doing so.
As it stands, OP is offered for commerce on a number of centralized exchanges reminiscent of Coinbase, OKX, Bybit, Gate.io, MEXC Global, together with well-liked decentralized trade Uniswap.
(✨_✨) $OP AIRDROP IS LIVE
Thread: all it is advisable to know concerning the so hyped launch
Claim proper now:
— olimpio ⚡️ (@OlimpioCrypto) May 31, 2022
With customers racing to snap up free tokens earlier than the official announcement, the Optimism crew acknowledged that its community was struggling to help the demand:
“Sup sleuths—as you might have guessed, OP Drop #1 launches today. We have NOT officially announced yet, but we’re already experiencing an all-time high demand. We knew everyone would be excited, but holy cow—y’all just couldn’t wait for #OPSummer.”
“We’re working to heavily provision more capacity before our official announcement—in the meantime the public RPC may respond slowly,” it added.
An RPC (Remote Procedure Call) permits varied functions, reminiscent of MetaMask or Uniswap, to work together with Optimism and Ethereum and seems to have been a key challenge that slowed down OP transactions.
Related: Layer-2 adoption may spur the subsequent crypto turning level
Commenting on the drop, Martin Köppelmann, co-founder of Ethereum Virtual Machine-compatible blockchain Gnosis, said he thinks Optimism is without doubt one of the “leading” initiatives tackling Ethereum’s scaling points, however this drop highlighted the purpose that “scaling is hard.”
And this was definitely not meant to sound unfavourable in any method in the direction of @optimismPBC – fairly the alternative, I contemplate the venture as one of many main as soon as to deal with scaling and them working into scaling points proper now simply reveals how exhausting the issue is.
— Martin Köppelmann (@koeppelmann) May 31, 2022
According to CoinGecko, OP opened at $1.43 earlier than surging to $2.10; nevertheless, the worth has since dropped again to roughly $1.92, marking a rise of roughly 34%. So far, buying and selling quantity has topped $169 million on the time of writing.