Optimism approves OP token buyback plan tied to Superchain revenue

Optimism’s governance has approved a new buyback program that links the OP token more closely to revenue generated across the Superchain.

Summary

• Optimism governance approved a proposal to allocate 50% of Superchain sequencer revenue toward OP token buybacks over a one-year pilot.
• The plan will link OP’s value more directly to network usage across OP Stack chains like Base and Unichain.
• Repurchased tokens will be held in the Optimism treasury, with future use decided by governance.

The vote passed on Jan. 28 with 84.4% approval from the Optimism community, comfortably exceeding quorum.

Over the course of a 12-month pilot, beginning February 2026, the plan commits 50% of net sequencer revenue to monthly Optimism (OP) buybacks. 

Linking OP to Superchain revenue

Under the approved framework, 50% of all net sequencer revenue generated across the Superchain will be used for monthly open-market purchases of OP tokens. The Optimism Foundation will initially carry out the program, and to minimize market impact, purchases will likely be made through over-the-counter vendors.

Based on current revenue levels, the Superchain generated roughly 5,868 ETH in sequencer revenue over the past year. At recent prices, that implies around 2,700 ETH, or about $8 million annually, could be directed toward OP buybacks if activity holds steady.

Repurchased tokens will be transferred to the Optimism Collective Treasury. Governance will ultimately determine whether the tokens are burned, utilized for staking-related mechanisms, or implemented as ecosystem incentives.

The plan has built-in safeguards, like automatic pauses in the event that execution requirements are not met or revenue drops below set thresholds. 

A response to long-running tokenomics debate

The mechanism is designed to tie OP’s value more directly to Superchain growth, responding to a long-standing concern among token holders as the ecosystem expanded quickly without a clear revenue feedback loop.

A growing share of Ethereum’s layer-2 activity is now handled by the Superchain, which includes networks such as Base, Uniswap’s Unichain, World, and others. Proponents argue that redirecting revenue toward buybacks brings builders, users, and investors into closer alignment, while improving confidence in OP’s long-term economic model.

The proposal comes after a protracted period of price weakness, with OP still trading over 90% below its all-time high. The measure was presented in governance talks as a structural change rather than a temporary attempt to raise prices, with a focus on sustainability and steady value accrual linked to actual network usage.

Optimism governance is expected to review results before deciding whether to extend, modify, or fully institutionalize the buyback mechanism.