Optimism uses Superchain revenue to repurchase OP, and the token introduces an ecosystem revenue binding mechanism

On January 8th, the Optimism Foundation proposed an important plan to allocate 50% of Superchain’s revenue for OP token buybacks starting from February. This is not simply a price support measure but a move to tie the long-term value of OP tokens more closely to the commercial success of Superchain, demonstrating the foundation’s commitment to the token’s long-term value.

Core Content of the Proposal

Three key points of the buyback mechanism

• Buyback target: OP tokens
• Funding source: 50% of Superchain revenue
• Implementation start: February 2026

The significance of this mechanism is that as Superchain’s commercial revenue grows, OP token holders can directly share in the buyback benefits brought by this growth. This is similar to traditional stock buyback programs, which support token value by reducing circulating supply.

Where does Superchain revenue come from

Superchain is a unified architecture of multiple L2 networks within the Optimism ecosystem. Its revenue mainly comes from transaction fees on the network and usage fees of ecological applications. According to the latest news, the Ethereum BPO2 upgrade implemented on January 7th increased the blob count per block from 10 to 14, a 40% increase in data capacity. This directly reduces transaction costs on Layer 2 solutions like Arbitrum and Optimism, and is expected to further boost the usage and revenue of Optimism and other L2 networks.

Strategic Intent Behind the Proposal

Redefining token value

Currently, the market cap of OP tokens is approximately $610.73 million, with a 24-hour trading volume of about $85.56 million. In the context of increasingly fierce competition among L2 ecosystems, this proposal from the Optimism Foundation essentially answers a key question: Where does the value of OP tokens come from?

The answer is: actual commercial revenue from the Superchain ecosystem. This binding mechanism transforms OP from a purely governance token into a form closer to an income token.

Market environment support

According to relevant information, Ethereum’s technological upgrades are accelerating. The Glamsterdam upgrade, expected to launch in the first half of 2026, will introduce parallel execution and increase the Gas limit to 80 million, pushing the mainnet toward thousands of TPS. In this context, Optimism’s position as a mainstream L2 is becoming more solid, and the growth in Superchain revenue has a more stable foundation.

Potential Impact on OP Tokens

Price support mechanism

A 50% buyback ratio means that as Superchain revenue increases, the supply of OP tokens will continuously decrease. Mathematically, this supports the token price. Data shows that OP has risen by 12.87% over the past 7 days, though it slightly declined by 1.65% in the last 24 hours. The announcement of this proposal may provide new narrative support for future price performance.

Points to watch

The actual effect of this mechanism depends on the real growth of Superchain revenue. If revenue growth is slow, the scale of buybacks will be limited. Therefore, the key is whether the development of applications within the Optimism ecosystem can keep pace with L2 performance upgrades.

Summary

This proposal from Optimism reflects a shift from pure governance to ecosystem revenue sharing. By tying OP tokens to the commercial success of Superchain, the foundation signals confidence in long-term development. Coupled with Ethereum ecosystem upgrades and intensified L2 competition, this proposal may mark a transition for Optimism from merely competing for market share to establishing a sustainable business model. Future focus should be on the actual growth of Superchain revenue and the real impact of this buyback mechanism on OP token supply and price.