• Optimism approved OP buybacks using half of Superchain sequencer revenue to link token value with real network activity.
• The one year pilot starts in February 2026 and directs monthly OP purchases funded by Superchain usage growth.
• Governance will control repurchased OP tokens through the treasury with safeguards if revenue or execution falls short.

Optimism governance has approved a new buyback program that ties the OP token directly to Superchain revenue. The decision shifts focus toward sustainable value linked to network usage. 

The vote passed on Jan. 28 with 84.4% approval, exceeding quorum requirements. The plan introduces a structured revenue feedback mechanism for the expanding ecosystem.

Governance Backs Revenue-Linked Buybacks

Under the approved proposal, Optimism will run a 12-month pilot starting February 2026. During this period, the network will allocate 50% of net sequencer revenue to OP buybacks. The program will execute purchases on a monthly basis. This approach aims to create predictable demand tied to actual economic activity.

The Optimism Foundation will manage execution during the pilot phase. To reduce market disruption, it plans to rely on over-the-counter purchase channels. This structure allows steady accumulation without sharp price movements. Governance retains oversight throughout the process.

Superchain Revenue Drives Token Demand

The buyback program draws funds from sequencer revenue generated across the Superchain. This includes OP Stack chains such as Base and Unichain. Over the past year, the Superchain produced about 5,868 ETH in sequencer revenue. At recent prices, that equals roughly 2,700 ETH, or about $8 million annually.

If network activity remains stable, that level of revenue could consistently support buybacks. As a result, OP demand would reflect actual usage across connected chains. This marks a shift from growth narratives toward measurable economic output.

Treasury Custody And Governance Control

After each purchase, the program will transfer OP tokens to the Optimism Collective Treasury. Governance will later decide how to use those tokens. Options include burning, staking-related mechanisms, or ecosystem incentives. No automatic burn mechanism applies during the pilot.

In addition, the framework includes operational safeguards. The system will pause automatically if revenue drops below defined thresholds. It will also halt if execution conditions fail. These controls aim to protect treasury resources during volatile periods.

Addressing Long-Standing Tokenomics Concerns

The proposal responds to ongoing debate around OP token utility. As the Superchain expanded, many holders questioned the absence of direct revenue linkage. The new model connects token value with sequencer income for the first time. This change reframes OP as an economic claim on network performance.

At the same time, the Superchain now processes a growing share of Ethereum layer-two activity. Networks like Base, World, and Unichain contribute to this volume. Supporters argue that revenue-based buybacks better align builders, users, and token holders. This alignment may strengthen confidence in the ecosystem’s long-term structure.