Optimism’s governance community has approved a new buyback initiative designed to more directly link the OP token to revenue generated across the Superchain ecosystem.
The proposal passed on Jan. 28 with 84.4% approval, comfortably exceeding quorum. Under the plan, 50% of net sequencer revenue generated across the Superchain will be allocated to OP token buybacks over a 12-month pilot period beginning in February 2026.
Linking OP to Superchain growth
The approved framework commits half of all net sequencer revenue from OP Stack–based networks—including Base, Unichain, World, and others—to monthly open-market purchases of OP tokens. The Optimism Foundation will initially execute the program, with purchases expected to occur primarily through over-the-counter channels to reduce market impact.
Based on current figures, the Superchain generated approximately 5,868 ETH in sequencer revenue over the past year. At recent prices, this suggests roughly 2,700 ETH, or around $8 million annually, could be directed toward OP buybacks if activity remains stable.
All repurchased tokens will be transferred to the Optimism Collective Treasury, with governance retaining authority over their eventual use. Options include burning the tokens, deploying them in staking-related mechanisms, or reallocating them as ecosystem incentives.
The proposal also includes safeguards, such as automatic pauses if revenue falls below predefined thresholds or if execution requirements are not met.
Addressing tokenomics concerns
The buyback mechanism is intended to resolve long-standing concerns around OP’s tokenomics, particularly as the Superchain expanded rapidly without a clear revenue feedback loop for token holders.
Supporters argue that redirecting sequencer revenue toward buybacks better aligns builders, users, and investors, while strengthening confidence in OP’s long-term economic model. The Superchain now processes a significant share of Ethereum’s layer-2 activity, amplifying the importance of sustainable value accrual mechanisms.
“Governance approval of the buyback proposal marks an exciting first step in expanding the role of the OP token,” said Bobby Dresser, executive director of the Optimism Foundation. “As the OP Stack becomes the settlement layer for the next generation of financial systems, this program helps align OP’s value with the success of the Superchain ecosystem.”
The initiative follows an extended period of price weakness, with OP still trading more than 90% below its all-time high. Governance participants emphasized that the proposal represents a structural shift, not a short-term attempt to boost prices, with a focus on sustainability and value tied to real network usage.
Optimism governance is expected to assess the pilot’s results before deciding whether to extend, modify, or permanently adopt the buyback program.
