When the going gets tough, the finest therapy is a healthy dose of optimism. In light of this information, the Optimism network has been working diligently to deliver the OP token to you. On Nexo, it is now possible to buy, exchange, and borrow against OP. It doesn’t matter if you’re on the “glass half full” or “glass half empty” squad; optimism has arrived!
● Buy: Purchase OP with a credit card in seconds and receive up to 0.5% cashback.
● Exchange: On the Nexo Exchange, there are six OP trading pairs.
● Borrow: Borrow against your OP at interest rates as low as 0% APR.
● Spend: Utilize your OP as collateral and use the Nexo Card to expand its value.
● Boost: Leverage your existing portfolio and trade up to three times more OP.
What Do You Need To Know About Optimism (OP)?
Optimism is an Ethereum layer 2 scaling solution. Optimistic rollups, the underlying technology, are where the word “optimistic rollups” comes from. It accomplishes this by compressing vast volumes of transactional data, all of which are presumed to be correct unless it is demonstrated otherwise.
Although it’s possible that this assumption is overly optimistic, validators will still check the data and provide a fraud-proof if they discover any inconsistencies. While these transactions are taking place on the Optimism chain, the data themselves are being posted on the Ethereum mainnet, which is where the validation is taking place.
Becoming A Top Layer 2 Solution Along The Way
Imagine that your local convenience store has everything you require at reasonable prices and that you also get to avoid waiting in line at the major supermarket. This is the comparison between Optimism and Ethereum. The layer 2 solution is able to execute smart contracts and is compatible with mainnet decentralized applications (dApps). Transaction fees are significantly lower than on the mainnet, while security is maintained. As additional users join the chain, Ethereum’s scalability benefits from an increase in the number of transactions that the system can process. Not to mention, the user and developer experience provided by the chain is of the highest caliber.
All of this, however, would be quite pointless in the absence of adoption. Optimism was successful in securing a $25 million investment from Andreessen Horowitz one month after the launch of its Alpha mainnet in January 2021. Since then, they have continued building, which is something that typically occurs with builders. At the end of April 2022, the Optimism chain’s TVL achieved its all-time high, ending at approximately $500 million. The pinnacle was reached on May 31, when Optimism successfully introduced its OP token to the market. There were a total of 214 million OP tokens airdropped, and they were distributed among 231,000 addresses.
Traders Can Now Buy Optimism (OP) on Nexo In A Breeze
Layer 2 tokens have been gaining traction as of late, and Nexo makes it simple to bring attention to projects of this nature. After you have finished registering on Nexo, it will just take a few seconds for you to be able to use a card to purchase Optimism. Each transaction will earn you up to 0.5% in crypto rewards back and will be processed in the same instantaneous manner as those on the chain itself.
Moreover, Layer 2’s are focused on cost savings. If you share this enthusiasm, purchasing OP on Nexo with a credit card now incurs no transaction costs. To take advantage of this limited-time offer, all you have to do is choose a debit or credit card from the list of payment options.
If you are hedging your bets at present and would like to trade some of your existing holdings for new OP tokens, there are six different pairings of tokens available for you to choose from. Every trade on Nexo Exchange might earn you up to 0.5% in cryptocurrency rewards. Here is a list of these six token pairings:
● OP/BTC
● OP/USDC
● OP/USDT
● OP/EURx
● OP/GBPx
● OP/USDx
Borrow Against Your Existing Assets to Buy Optimism (OP)
If you have a bullish outlook on the future of cryptocurrency, then selling your holdings should be the very last thing on your to-do list. If you want cash or stablecoins, you can borrow against your current assets on Nexo at a rate of 0% APR. If you are interested in new tokens, you can use the newly gained funds to purchase Optimism tokens if it is something that interests you.
Utilizing the Nexo Booster will allow you to accomplish your goal in a single, time-efficient step. It permits the instant implementation of a borrow and exchange transaction, which enables you to acquire three times as much Optimism as you would otherwise be able to purchase. This purchase is made possible thanks to a credit line that is backed by cryptocurrency.
The Way Forward For Optimism (OP)
Layer 2 solutions are hoping to improve in tandem with the forthcoming Merge and the anticipated rise in Ethereum’s overall efficiency. It is anticipated that the need for Ethereum will also expand as crypto usage develops, and along with that will come the popularity of layer 2’s, which is where the majority of transactions that are smaller will continue to take place. Optimism should be at the top of your list if you have a strong outlook on Ethereum and layer 2 projects.
