Trade OP-USDT, make convenient deposits, and withdrawals seamlessly.
We're delighted to introduce the latest addition to our growing array of assets - Optimism (OP)! We are thrilled to announce the availability of OP-USDT Spot trading, as well as convenient Deposits and Withdrawals on CIEx.
What is Optimism (OP)?
Optimism is a layer 2 scaling solution for Ethereum. The name stems from the technology behind it called Optimistic rollups. It functions by compressing large amounts of transactional data assumed to be valid until proven otherwise. This assumption might be optimistic, yet still, validators check the data and submit a fraud proof if they find inaccuracies. These transactions happen on the Optimism chain while the data itself is posted on the Ethereum mainnet, where validation occurs.
How Did Optimism Become a Top Layer 2 Solution?
Imagine your corner store has everything you need at a fair price and you get to skip the queues at the big supermarket. This is what Optimism is like compared to Ethereum. The layer 2 solution supports mainnet dApps and is capable of executing smart contracts. Transactions cost way less than on the mainnet while still benefiting from its security. The greater number of transactions the system can process helps scale Ethereum with more users moving to the chain. Last but not least, the chain provides top-tier developer and user experience.
However, all this would mean little without adoption. A month after its Alpha mainnet launch in January 2021, Optimism secured a $25M investment by Andreessen Horowitz. Since then, as often happens with builders, they have continued building. Fast forward to the end of April 2022 and the Optimism chain reached its all-time high in TVL, closing at a little over $500M. The culmination happened on May 31 when Optimism launched its OP token. A total of 214 million OP tokens were airdropped to 231,000 addresses. If you didn't qualify for the airdrop, at Nexo it's easy to buy your first OP tokens.
Specifications
- Name: Optimism
- Symbol: OP
- Chain Name: OP
- Smart Contract Address: 0x4200000000000000000000000000000000000042
OP Tokenomics:
- Trading price (at the time of writing): $1.23
- Global Market Cap (at the time of writing): $1,082,192,794
- Global Trading Volume (at the time of writing): $74,194,208
- Circulating Supply: 880,444,572 OP
- Total Supply: 4,294,967,296 OP
Spot Trading, Deposits, and Withdrawals
You can now engage in Spot trading, conveniently deposit and withdraw OP on CIEx. To begin trading OP-USDT, simply click the following link: Start trading the OP-USDT pairs today.
Please be aware that all trading activities involve risks, and it's crucial to conduct your own research and gain a comprehensive understanding of the market before making any investment decisions.
Stay Connected with CIEx
Stay ahead of the curve by downloading the CIEx App here.
You can also follow us on various platforms: Connect with Us
Thank you for choosing CIEx as your trusted cryptocurrency exchange.
Happy trading!
The CIEx Team.