Optimism L2 Network Launches OP Token on Major Exchanges: TVL Surges to Top Three

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The Ethereum Layer 2 scaling solution Optimism has taken a major leap forward with the official launch of its governance token, OP, now available on leading centralized exchanges. This milestone has reignited market interest in the Layer 2 ecosystem and propelled Optimism into the top three networks by total value locked (TVL), highlighting its growing influence in the broader Ethereum scaling landscape.

👉 Discover how OP's launch is reshaping Ethereum’s Layer 2 future.

OP Token Goes Live on Global Exchanges

On May 31, multiple major exchanges announced the listing of Optimism’s native token, OP, marking a pivotal moment for the project. The rollout began with deposit support and gradually expanded to full trading capabilities.

OKX, one of the world’s largest digital asset platforms, opened OP deposits on May 31 at 20:00 HKT and enabled withdrawals on June 2. Trading was launched as soon as sufficient user deposits were confirmed. Additionally, OKX introduced OP/USDT leveraged trading, perpetual contracts, and savings options via its余币宝 (earnings product) starting June 1 at 12:00 HKT — providing users with diverse ways to engage with the new asset.

Meanwhile, Coinbase emphasized that OP deposits are only supported on the Optimism network, warning users against sending assets via Ethereum or other networks to avoid irreversible fund loss. Due to temporary congestion on the Optimism network, transaction processing times may be longer than usual.

Similarly, Binance confirmed support exclusively for OP deposits over the Optimism network, reinforcing the importance of network compatibility when handling Layer 2 tokens.

Beyond exchanges, Quixotic, a prominent NFT marketplace built on Optimism, now supports OP for trading — further integrating the token into the Layer 2 ecosystem.

Governance Airdrop Now Claimable

In parallel with exchange listings, Optimism officially opened its OP token airdrop claims through its governance portal. While some early adopters had already interacted directly with smart contracts to claim their tokens, high traffic caused delays across the Optimism mainnet and RPC endpoints.

To manage system load, the team temporarily restricted archive node functionality until network stability improved. This underscores the growing pains often experienced during high-profile token launches but also reflects strong community engagement.

As of June 1, L2BEAT data shows that total TVL across Ethereum Layer 2 solutions reached $4.65 billion. The rankings are as follows:

Optimism’s rise to third place in TVL highlights increasing confidence from developers, users, and investors alike.

Market performance reflects this momentum: according to OKX data, OP opened trading around $1.88, surged over 350% from initial levels, and ranked #23 in market热度 and #75 by market cap — a strong debut for a Layer 2 governance token.

Understanding Layer 2 and Optimism’s Role

At its core, Layer 2 (L2) refers to protocols built atop Layer 1 blockchains like Ethereum to improve scalability without compromising security. As Ethereum became the dominant platform for decentralized applications (dApps), it faced rising congestion and high gas fees — challenges that hinder mass adoption.

Layer 2 solutions address this by offloading computation and transaction processing from the main chain while periodically settling final results back on Ethereum (Layer 1). This maintains Ethereum’s robust security model while drastically improving speed and reducing costs.

Several L2 approaches exist today:

Optimism leverages Optimistic Rollup technology — a method that assumes transactions are valid by default and only runs fraud proofs if disputes arise. This allows for near-instant finality under normal conditions and significantly lower fees compared to Layer 1.

Unlike sidechains or standalone rollups, Optimism focuses not just on technical scalability but also on advancing public goods funding. The project champions a vision where successful protocols contribute a portion of revenue back into ecosystem development — a model known as retroactive public goods funding (RPGF).

👉 Learn how Optimism balances scalability with sustainable ecosystem growth.

Why Investors Are Betting on Layer 2

The launch of OP has intensified focus on the broader Layer 2 investment thesis. With Ethereum’s network revenue up 46% year-over-year to $2.4 billion** and L2 total value locked skyrocketing **964% to $7.3 billion (as of April reports), the data signals strong institutional and retail interest.

For investors, Layer 2 represents more than just cheaper transactions — it's about enabling the next generation of scalable dApps in DeFi, gaming, social, and identity systems. Projects like Optimism are not only solving immediate bottlenecks but also shaping long-term economic models for Web3 sustainability.

Notably, Optimism has attracted backing from top-tier firms including Paradigm and Andreessen Horowitz (a16z) — both of which recognize the strategic importance of scalable, Ethereum-aligned infrastructure.

OKX Ventures has identified Layer 2 as a key investment focus area, citing Optimism’s technical maturity, developer adoption, and alignment with Ethereum’s core values as compelling factors.

Core Keywords Integration

Throughout this evolution, several core keywords emerge naturally:

These terms reflect both user search intent and the technological significance of Optimism’s advancements.

Frequently Asked Questions (FAQ)

What is Optimism in blockchain?

Optimism is an Ethereum Layer 2 scaling solution using Optimistic Rollup technology to reduce transaction costs and increase throughput while maintaining Ethereum-level security. It enables fast, low-cost transfers and smart contract execution.

How do I claim my OP airdrop?

You can claim your OP token airdrop via the official Optimism governance website. Ensure you connect the wallet eligible for distribution based on past activity (e.g., bridging assets, using dApps). Always verify URLs to avoid phishing scams.

Can I trade OP on centralized exchanges?

Yes. OP is listed on major platforms including OKX, Coinbase, and Binance. Trading pairs include OP/USDT, with additional offerings like perpetual contracts and leveraged trading available on select platforms.

Why is network selection important when depositing OP?

OP exists natively on the Optimism network. Depositing via Ethereum or another chain can result in permanent loss of funds. Always confirm you're using the correct network — Optimism (OP Mainnet) — when transferring tokens.

How does Optimistic Rollup work?

Optimistic Rollups assume all transactions are valid by default. They publish compressed transaction data to Ethereum and only execute computation if a fraud proof challenges a result. This minimizes cost and maximizes efficiency while relying on Ethereum for final settlement.

Is OP a good investment?

While OP enables governance participation in the Optimism ecosystem, all crypto investments carry risk. Evaluate based on fundamentals like ecosystem growth, usage metrics, and long-term vision rather than short-term price movements.

👉 Stay ahead of Layer 2 trends with real-time OP market insights.

Final Thoughts

The launch of the OP token marks more than just a new cryptocurrency entering circulation — it symbolizes a maturing Layer 2 ecosystem where scalability, decentralization, and sustainability converge.

With robust exchange support, rising TVL, active governance participation, and strong institutional backing, Optimism is positioning itself as a foundational layer for Ethereum’s future. As user adoption grows and retroactive funding models gain traction, the impact of projects like Optimism could extend far beyond transaction speed — influencing how public goods are funded in decentralized societies.

For developers, investors, and users alike, now is a critical time to understand and engage with Ethereum’s expanding Layer 2 frontier.