#美国非农就业数据未达市场预期 Optimism's move is indeed quite aggressive

Recently, there's been a big development in the crypto world—the Optimism Foundation announced that starting from February, they will use 50% of the revenue from Superchain each month to buy back OP. It sounds simple, but the underlying logic is unusual.

Honestly, this approach has long been common in traditional finance. Public companies buy back their shares after making profits, directly boosting shareholder returns. But in the crypto space, most projects are still crying poor, while Optimism dares to directly reinvest ecosystem income back to holders. This in itself is a matter of attitude.

**Short-term support at the bottom, long-term ecosystem story**

From a trader's perspective, stable monthly buybacks can indeed establish a price floor in a bear market. $OP won't skyrocket out of nowhere, but it's also not easy to break through casually. However, the real growth point depends on whether the Superchain ecosystem can continue generating revenue. The higher the revenue, the greater the buyback effort, creating a positive feedback loop—that's the logic for sustainable growth.

**This opens a new dimension of competition**

Don't underestimate this move. When Optimism leads the way in this approach, other L2s and public chains will have to consider it. Should they also share protocol revenue with holders? This could gradually rewrite the rules of governance token competition. It's no longer just about voting rights and community value, but real cash flow returns.

$BTC's current trend still influences market sentiment, and $ETH, as the ecosystem cornerstone, is also under pressure. But in this broader context, tokens like $OP, which are "backed by revenue," might open up different valuation logic.

**What to watch next**

First, whether the Superchain ecosystem revenue can truly grow—this directly determines the strength of buybacks. Second, whether the market can accept this revenue-sharing model, meaning whether OP's valuation will be re-rated. Third, whether other projects will follow suit, which concerns the future direction of governance tokens overall.

The monthly buyback rhythm and Superchain growth data are the best windows for observation. Should you pre-position some spot holdings? That depends on how much you agree with this logic.