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Exchange Optimism (OP)

If you're looking to swap Optimism, SwapSpace is your one-stop-shop. We have some light reading for you - in case you'd want a refresher on what is Optimism or some fresh information about OP’s price movements. And, of course, we provide you with the multiple Optimism exchange options so that you can choose the offer with the best rates and lowest Optimism fees, as well as other parameters that suit you.

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Optimism Price Stats

To help you make a decision about exchanging your Optimism, we gathered some cold hard numbers: Optimism price chart and other stats, such as Optimism market cap.

24H HIGH

24H HIGH $0.9912

OP MARKET CAP

OP MARKET CAP $3,923,882,121.626

CIRCULATING SUPPLY

CIRCULATING SUPPLY 4,294,967,296 OP

24H LOW

24H LOW $0.89604144

OP PRICE

OP PRICE $0.9136

24H VOLUME

24H VOLUME $44,856,755.919

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Optimism Price Chart

Here you can see the current price of Optimism, as well as Optimism price history.

What is Optimism?

Optimism is a Layer-2 solution that runs on top of Ethereum. It uses optimistic roll-ups to help the Ethereum network scale while using its security. The transactions are trustlessly stored on Optimism and ultimately secured by Ethereum. Despite this, Optimism offers a low cost and fast speed of transactions. 

The Optimism network is an open-source, permissionless, and decentralized network with smart contracts functionality. Optimism is one of the biggest scaling solutions for Ethereum, which hosts over 35 protocols, the biggest one is Synthetix. The decentralized exchanges Uniswap, DEX, Velodrome, and AMM are also built on Optimism. The users can use bridges for example, like the ones that MetaMask offers to bridge the assets. The network offers developers the tools that can be applied to their needs. According to the official website, Optimism creates the rails for highly impactful projects that don’t need a proper business model. 

The project was founded in 2019 by the Optimism Foundation, a non-profit organization that leads the growth and development of the Optimism network. The goal of the project is to become a fully decentralized and non-profit organization. It is funded mainly by donations and grants and aims to build an infrastructure that promotes the growth and sustainability of public goods. It plans to have L1 governed fault proofs ready by 2024. 

The mainnet of Optimism blockchain was launched in December 2021 and deploying smart contracts on the network became available for the developers. It can be done in a streamlined manner. 

By August 2022 the Optimism crypto project has already achieved some milestones. For instance, it saved over $1 billion in network fees, has over $800 million of on-chain value, and donated over $1 billion to public goods. 

The project is based on 4 main principles: simplicity, pragmatism, sustainability, and optimism. The idea is to have as less moving parts as possible and work directly with existing databases. 

Blocks on Optimism are built and executed on the Layer-2 (Optimism blockchain), while user transactions are submitted to the Layer-1 (Ethereum network) in batches. Thanks to this mechanism it offers a pleasant user experience without losing the security of the blockchain. As there is no mempool, transactions are accepted or rejected instantly.  

The transactions are submitted to Ethereum without direct proof of authenticity and can be challenged within a certain time (currently, for a week). It causes the withdrawals from Optimism to Ethereum to take seven days. 

It’s not only compatible with EVM as many other blockchains but actually equivalent to it, meaning that all the apps and tools of Ethereum work on the Optimism network. 

On May 31, 2022, Optimism conducted the highly anticipated airdrop of its native OP token, which attracted so many users that the blockchain was slightly slowed down. Moreover, some of the users were left with no tokens, and the issue was only solved over time. The project pursues the goal to finance the initiatives on the Optimism blockchain. Those grants are distributed via governance. 

OP token is a governance token for the Optimism blockchain. It is used to vote for the protocol upgrades and network parameters. The token has an initial supply of almost 4 295 million tokens. It is an inflationary currency with an inflation rate of 2% a year. 

The OP token can be swapped from most of the big cryptocurrency exchanges, such as Binance, KuCoin, Gate.io, Bybit, Coinbase. 

A Simple Way To Exchange Optimism Here At SwapSpace

Step 1
Step 1

Choose a pair

Choose the cryptocurrencies you would like to exchange among more than 1100 coins and tokens. Pick them from drop-down menus. Type the number of coins you want to swap.

Step 2
Step 2

Select the best rate

You choose the rate – we do the magic! Pick up the exchange service by the rate which meets your requirements. Make sure you are okay with the selected service network fee and privacy policy: some of them require you to pass the AML/KYC procedure.

Step 3
Step 3

Transfer funds

Send the exact amount to the address provided and receive the crypto in your wallet within minutes. Don’t have a wallet yet? Our support will recommend a good one!

Step 4
Step 4

Receive your coins

You’ll get your coins in a few minutes! The exact time is a subject of various parameters such as blockchain network workload, transaction volume, our partners’ processing speed, etc. Concerned about your transaction? Check the swap tracker or feel free to contact the support: support@swapspace.co.

Frequently Asked Questions

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