Optimism approves OP token buyback plan tied to Superchain revenue

Optimism’s governance community has approved a proposal to begin buying back the OP token using a portion of the network’s Superchain revenue, marking a shift in how value generated across the ecosystem flows back to token holders.

Under the plan, passed this week, 50% of all Superchain revenue will be allocated to OP buybacks over the next 12 months, starting in February. The initiative was proposed by the Optimism Foundation as part of a broader effort to strengthen the role of the OP token and more closely align it with the growth of the Superchain.

Source: Optimism

Governance vote reshapes revenue allocation

The proposal cleared governance with 33.27% voting in favor, 3.23% against and 3.95% abstaining. Prior to the vote, all Superchain revenue was directed to a treasury managed by Optimism governance, with no dedicated mechanism to recycle value back into the token.

The Superchain is a network of layer-2 blockchains built using Optimism’s open-source OP Stack, and includes projects such as Sony’s Soneium, Unichain, Ink and Base. These chains generate revenue in Ether through

sequencer fees, which are pooled at the Superchain level.

How the buyback program will work

As part of the approved framework, Optimism will work with an over-the-counter provider to convert Ether into OP on a monthly basis. The purchased tokens will be held in the treasury alongside remaining ETH rather than immediately removed from circulation.

Based on Superchain revenue generated last year, the foundation estimated that a similar allocation would have directed roughly 2,700 ETH toward OP buybacks — equivalent to about $8 million at current prices.

The Optimism Foundation said the accumulated OP could later be used in several ways, including token burns, ecosystem funding or incentives for participants who help secure and grow the network.

Token strategy evolves, price reaction muted

Optimism Foundation executive director Bobby Dresser described the approval as an early but meaningful step toward expanding OP’s utility and tying its value more directly to the performance of the Superchain.

Despite the significance of the governance decision, the market response has been muted. The OP token was trading around $0.26 at the time of publication, down roughly 1.9% over the past 24 hours, according to

CoinGecko data.

The buyback plan reflects a broader trend among crypto protocols experimenting with more explicit value-capture mechanisms, even as investors remain cautious amid wider market uncertainty.