The Ethereum Layer-2 scaling network Optimism plans to distribute $3.3 billion worth of OP tokens to support various blockchain projects. The Optimism Collective, which oversees governance and community matters, announced that 850 million OP tokens, equivalent to 20% of the total supply, will be given out in four rounds starting in May and spanning until 2024.

According to the Chief Operating Officer of the Optimism Foundation, Bobby Dresser, approximately $158 million worth of 40 million OP tokens have already been distributed in the first three rounds. The fourth round, known as retroactive public goods funding (RPGF), will involve developers on-chain determining recipients and the community voting on deserving projects.

Subsequent rounds from five to seven will reward those contributing to infrastructure, governance, and development tools. The aim is to provide support to anyone enhancing the Optimism ecosystem. The final round is expected to be completed by mid-November.

Retro funding is designed to reward individuals who contribute to blockchain and crypto communities but may not have access to traditional funding sources like venture capital. In a recent round, entities such as DefiLlama, L2Beat, Revoke Cash, and ZachXBT received OP tokens. Ethereum co-founder Vitalik Buterin commended Optimism's commitment to public goods funding and encouraged more projects to follow suit.

The announcement about Optimism's allocation of $3.3 billion in OP tokens was originally published on COINTURK NEWS.