The Ethereum layer-2 scaling network Optimism has decided to set aside $3.3 billion worth of its Optimism (OP) token for community grants. The Optimism Collective, which handles governance and community matters, announced that a portion of the 850 million OP will be distributed in four rounds from May through 2024.

Bobby Dresser, the chief operating officer of the Optimism Foundation, stated that 850 million OP, equivalent to 20% of the initial OP token supply, has been dedicated to funding purposes. A total of 40 million OP, valued at approximately $158 million, has already been distributed across three previous rounds.

For the fourth round, on-chain builders will initiate the retroactive public goods funding (RPGF) for Optimism, allowing the community to vote on which projects should receive tokens based on their demonstrated value. Rounds five to seven will focus on rewarding infrastructure, governance, and development tool contributors, with anyone working to enhance Optimism eligible for funding. The final round will conclude in mid-November.