Optimism buyback faces review after first year as OP purchases drop sharply

Optimism's Foundation said it will not commit to extending its OP buyback beyond the program's initial 12 months, signaling that one of the token's main demand supports is subject to review. The program uses up to half of Superchain revenue, and three disclosed purchases total 9.45 million OP, or 513.9 ETH, roughly $975,000, including about 1.57 million OP in January, 6.95 million in March and 925,654 in April. Monthly spending fell from 367.9 ETH in March to 50.2 ETH in April, while earlier Bitcoin World reporting said buybacks halted in May. The Foundation declined to provide revenue projections after Coinbase's Base network left the OP Stack in February, a move followed by a 23% drop in OP and staff cuts of more than 20%. Updated budget figures showed circulating supply at 2.288 billion OP, higher than an earlier 2.161 billion figure, with about 216 million more tokens still expected to enter circulation. The Foundation also said Retro Funding, paused in January, remains set at zero this year and will be re-evaluated after its own 12-month pause.

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