Airdrop of optimism overwhelmed by unprecedented high demand: “Scaling is hard”

Ethereum Optimism’s Layer 2 scaling solution was overwhelmed by ‘unprecedented high demand’ after launching its long-awaited parachute dr...



Ethereum Optimism’s Layer 2 scaling solution was overwhelmed by ‘unprecedented high demand’ after launching its long-awaited parachute drop Wednesday.

Users rushing to collect their tokens were met with failed or delayed transactions as the Optimism team raced in the background to add additional capacity to the network.

As previously reported in April, optimism is airdrop of new OP governance token – over several phases – alongside the launch of a decentralized autonomous organization (DAO) called “The Optimism Collective”.

Nearly 250,000 addresses are eligible to receive the airdrop, with eligibility set for early Optimism adopters and regular Ethereum users, such as DAO voters, multi-signature signers, and bridge users. .

According to Optimism Status, the mainnet experienced degraded performance for approximately three and a half hours, with the team “providing more capacity” to fix the issue. Therefore, the functionality of the Archiving Node remains temporarily limited until the network load decreases.

Optimism said on Twitter that it would take the lessons learned from the first drop and apply them to the second round, while it will also post an “in-depth retrospective next week” detailing what happened.

“Wow, what a day. OP Drop #1 had a rocky launch that we finally stabilized after more than five hours of non-stop work.

Twitter users such as OlimpioCrypto were the first to announce the airdrop going live earlier Tuesday to their 35,400 followers, hours before Optimism officially did so.

As it stands, OP is available for trading on several centralized exchanges such as Coinbase, OKX, Bybit, Gate.io, MEXC Global, as well as the popular decentralized exchange Uniswap.

As users rush to get free tokens ahead of the official announcement, the Optimism team recognized that his network was struggling to support the request:

“Sup Detectives – as you may have guessed, OP Drop #1 is launching today. We have NOT officially announced yet, but we are already experiencing unprecedented high demand. We knew everyone would be excited, but damn cow, you just couldn’t wait for #OPSummer.

“We are working to deliver more capacity ahead of our official announcement. In the meantime, the public RPC may respond slowly,” he added.

An RPC (Remote Procedure Call) allows various applications, such as MetaMask or Uniswap, to interact with Optimism and Ethereum and appears to have been a key issue that slowed down OP transactions.

Related: Layer 2 Adoption Could Boost Crypto’s Next Turn

Commenting on the drop, Martin Köppelmann, co-founder of the Ethereum-enabled blockchain Gnosis Virtual Machine, said he believed optimism was one of the “flagship” projects. fix Ethereum scaling issuesbut this drop highlighted the fact that “scaling is difficult”.

According to CoinGecko, OP opened at $1.43 before climbing to $2.10; however, the price has since fallen back to around $1.92, marking an increase of around 34%. So far, the trading volume has exceeded $169 million at the time of writing.