The Ethereum Layer 2 Optimism network launched a token and a new governance model in April. The team is supposed to distribute the token via an entire season of airdrops. In fact, the team also saw it as a broader move towards a decentralized governance structure known as the (OP) Optimism Collective.
Last year, the platform even got rid of the “whitelist” to bring the optimism closer to a truly open and optimistic Ethereum. But doing so could have opened up cracks, which the team recognized and acted on.
It’s about bridging that gap
Ethereum L2 protocol Optimism announced that it removed an additional 17,000 sybil addresses and recovered over 14 million OPs. The team, in a tweet from May 24 added,
“We carefully analyzed OP Airdrop #1 for sybil attackers who slipped through the cracks. We are happy to report that we have removed an additional 17,000 sybil addresses and recovered over 14 million OPs.
All recovered OPs would be redistributed proportionally to the other Airdrop #1 recipients. Or, as the team puts it, “It’s like an extra mini parachute drop.”
Notably, a Sybil attack is a type of attack on a computer network service in which an attacker subverts the service’s reputation system by creating a large number of pseudonymous identities and uses them to gain disproportionate influence.
Additionally, the team thanked the community for their support.
Like our initial sybil filters for Airdrop #1, we’ve chosen not to release these additional filters. Teaching sybils how to become undetectable is in no one’s interest.
— Optimism (✨🔴_🔴✨) (@optimismPBC) May 23, 2022
Optimism is one of the best Ethereum layer 2 scaling projects. According to a report by Arcane Research, while transferring ETH can cost around $18.11, the same function costs less than $0.01 with Optimism.
Race to the top
The project has seen significant growth over the past few months amid an increased focus on Ethereum Layer 2 scaling solutions. As of April 2022, the network has recorded approximately $662 million in total value locked (TVL). But May could see a disappointment for the network as TVL slipped to $500 million.
Although Optimism is currently enjoying a wave of hype, it still lags behind its biggest competitor, Arbitrum, another layer 2 solution from the Optimistic Rollup which holds $2.71 billion in TVL.