OP Superchain: Financials

Optimism Collective

The Superchain is a network of blockchains and platforms built on a common standard codebase that share security, governance, and values. Today, the Superchain consists of OP Mainnet, Base, Zora, Mode, and many other chains.

The Optimism Collective is the governance body that exists to grow the Superchain. It generates revenue through the operation of OP Mainnet, which returns 100% of gross profit to the Collective, and through the Optimism Collective Fee Split paid by chains within the Superchain.

The Fee Split is a revenue share agreement with the member chains to contribute the greater of 2.5% of total sequencer revenue (Network REV) or 15% of net onchain sequencer revenue (Network REV less L1 Operator Payments) to the Collective.

None of this revenue has been used to date, and it is currently not allocated to any specific programs. The Optimism Collective relies on a bicameral governance system that includes OP Token Holders and appointed Citizens.

Optimism Collective Financials

Superchain Aggregate Views

Income Statement

Revenue

The Optimism Collective governs the network of chains in the Superchain. Therefore, revenue is generated by the respective fee sharing agreements of each member chain.

• OP Collective Fee Split: Chains within the Superchain contribute the greater of 2.5% of total sequencer revenue (Network REV) or 15% of net onchain sequencer revenue (Network REV less L1 Operator Payments) to the Collective. This can be viewed as a revenue share agreement with the Collective. The exception is OP Mainnet, which contributes 100% of its net onchain sequencer revenue to the Collective.

Expenses

None of the revenue earned from the OP Collective Fee Split has been used nor allocated to any specific programs.

Gross Profit

Since revenue has not yet been put to work by the Optimism Collective, all revenue flows down to gross profit.

Other Expenses

Token Expenses: All other expenses paid in OP.

• Foundation: Due to the operational role of the Foundation. Follows the vesting schedule.
• Grants: Any outflow of OP from the main treasury wallets not tied to Investor, Foundation, Team, and Airdrop-related issuance. Includes items such as retro Public Goods Funding, Gov Grants, Partner and Seed Fund.

Token Holder Net Income

The remaining value that accrues to token holders net of all expenses.

Balance Sheet

The Optimism Collective is the governance body that exists to grow the Superchain.

Assets

Revenue from the OP Collective Fee Split is accrued in ETH from various chains in the Superchain. For OP Mainnet specifically, there are a few nuances:

• In Treasury: A designated Ethereum walalet
• Accrued on OP Mainnet: ETH accrued on OP Mainnet from OP Mainnet operations
• In Bridge Queue: ETH will periodically flow the accrued OP Mainnet address to the Ethereum treasury. This corresponds to the ETH currently in the Optimism Bridge
• Batcher Wallet: A designated Ethereum wallet used for posting state proofs

Liabilities and Capital

• Tokens Issued: Total amount of OP issued to the market. The price corresponds to the grant date of the issued OP, not the prevailing market rate.

• Token Rewards: Tokens issued with no expected future service in return. In contrast to the Foundation line item on the income statement, these token outflows are not tied to any service in return. They are better reflected as a reward/dividend rather than a direct expense.

  • Airdrop reflects the total $ amount of airdropped OP tokens to the community
  • Investors follows the vesting schedule of investors rewards of OP tokens

• Currency Translation Adjustment: Change in the market value of assets on the balance sheet compared to the value that they were booked at.