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Techub News, according to CryptoBriefing, Upbit operator Dunamu has partnered with the Optimism Foundation to build GIWA Chain based on the OP Stack and include it within the OP Enterprise framework. The chain has processed nearly 100 million testnet transactions and is expected to launch on mainnet soon. Under this framework, Upbit will control the main sequencer and core network decisions, while Optimism provides institutional-grade support and a backup sequencer. Dunamu Chief Operating Officer Minseok Jung stated that operating the chain independently is a strategic move aimed at providing institutional and retail users with performance and compliance levels consistent with its existing platform.
Techub News reports that the Optimism Foundation has passed an OP buyback proposal. This proposal authorizes the initiation of a 12-month plan, which will allocate 50% of Superchain revenue to repurchasing OP tokens; the buyback program will commence in February, and the repurchased tokens, along with the remaining ETH from the sequencer, will flow back into the Collective Treasury. Furthermore, the foundation will collaborate with over-the-counter trading providers to execute monthly ETH-to-OP conversions.
Techub News reports that the Optimism Foundation has initiated a new proposal, suggesting the implementation of a 12-month plan starting in February. The plan proposes to allocate 50% of the Superchain's revenue (including Base, Unichain, World Chain, etc.) to repurchase OP. Over the past 12 months, Optimism generated revenue of 5,868 ETH. Based on this calculation, approximately 2,934 ETH would be used for the repurchase. The repurchased OP will be deposited into the collective treasury and may be used in the future for burning, ecosystem incentives, or rewarding token holders who participate in network security. Additionally, the proposal includes authorizing the Foundation to flexibly manage the remaining Ethereum treasury assets to generate returns, enhance liquidity, and support the Superchain ecosystem.
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