Optimism Proposes OP Token Buybacks Tied to Superchain Revenue

The Optimism community has begun voting on a new governance proposal that could significantly reshape the economic role of the OP token by directly linking its value to the performance of the Superchain ecosystem. The proposal, introduced by the Optimism Foundation, suggests allocating 50% of ether (ETH) revenue generated by the Superchain sequencer to monthly OP token buybacks over an initial 12-month period.

If approved, the initiative would mark a major evolution for Optimism, whose OP token has historically served primarily as a governance asset. By using protocol-generated revenue to fund buybacks, the foundation aims to create consistent, structural demand for OP and better align the token’s value with actual network usage. According to the proposal, every transaction across Superchain networks would contribute to the buyback mechanism, reinforcing OP’s connection to ecosystem growth.

Voting on the proposal opened Thursday and is scheduled to close on Jan. 28 at 2 p.m. ET (19:00 UTC).

The Superchain is a growing network of Ethereum layer-2 blockchains built using the OP Stack and governed under a shared framework. Current members include OP Mainnet, Base, Unichain, World Chain, Soneium, and Ink. Each participating chain contributes a portion of its sequencer revenue back to Optimism. Over the past year, the Superchain generated approximately 5,868 ETH in sequencer revenue, all of which was directed to a governance-controlled treasury. Based on these figures, dedicating half of that revenue to buybacks would have translated into roughly 2,700 ETH, or about $8 million at recent prices, used to purchase OP tokens.

Under the proposed structure, the Optimism Foundation would execute monthly ETH-to-OP conversions during a fixed time window, without attempting to time the market. Buybacks could be paused if predefined conditions are not met. To ensure transparency, the foundation plans to release a public dashboard displaying pricing, pacing, and balance data related to the trades. Purchased OP tokens would be held in the collective treasury alongside remaining ETH revenue.

While the initial phase keeps execution under foundation oversight with limited discretion, the proposal envisions eventually moving the process fully onchain. Future uses for repurchased OP could include token burns, ecosystem funding, or distribution to network participants as interoperability and sequencer customization features expand through 2026.