Describing the Optimism Collective as a “large-scale experiment in digital democratic governance,” the governance body will be composed of communities, companies, and users who seek to drive Web3 development. There will be two houses in the Optimism Collective, the Citizens’ House and the Token House.
Each house has its own purpose. The Token House will be created once the first airdrop is underway. This group is the one that will be responsible for voting on protocol changes and project incentives.
The Citizens’ house will be in charge of retroactive public goods funding, which will stem from revenue generated by the network. To join the Citizens’ house, users will require citizenship marked by non-transferrable NFTs. Optimism has described the governance process in more detail in the documentation.
The airdrop date has not yet been announced, but a snapshot of the addresses was taken on Mar. 25. The airdrop focuses on early adopters, namely Optimism users, repeat users, DAO voters, multisig signers, Gitcoin donors, and users priced out of Ethereum. 14% of the total initial token supply has been reserved for future airdrops.
Layer 2 scaling solutions are the talk of the town
Optimism has always been a project that is one to watch, even as far back as its Ethereum testnet efforts far back in 2020. Its layer 2 scaling efforts have drawn a lot of attention, as an increasing number of such projects test out their scaling solutions.
Optimism is a layer 2 scaling solution built on the Ethereum blockchain that uses a transaction execution method called optimistic rollups to improve throughput and lower transaction fees while still maintaining the security properties of the underlying blockchain.