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Optimism (OP)

What is Optimism?​

Here are 5 key points about the Optimism Blockchain:

  • Optimism is a Layer 2 scaling solution for Ethereum that aims to increase transaction throughput and reduce costs by utilizing Optimistic Rollup Technology.

  • The Optimistic Rollup Technology bundles multiple transactions off-chain and submits a succinct summary (rollup) of these transactions to the Ethereum mainnet for verification.

  • Optimism is fully compatible with the Ethereum Virtual Machine (EVM), allowing developers to deploy existing Ethereum smart contracts and decentralized applications (dApps) on Optimism without modification.

  • By periodically submitting batched transaction data to Ethereum, Optimism ensures that its security is anchored to Ethereum's robust and decentralized consensus mechanism.

  • Optimism ETH is the currency used to pay gas fees and all Optimism transactions. The Optimism token (OP) is an ERC-20 governance token that allows its holders to participate in the Optimism DAO governance protocol.


Learn more about the Optimism Blockchain by reading the Gem Wallet Learn article:
What Is The Optimism Blockchain?

Optimism on Gem Wallet​

Gem Wallet has the following features enabled for Optimism:

OP on GEM WalletSwap OP on GEM Wallet

What are Optimism ERC20 tokens?​

  • ERC20 tokens are a type of digital assets issued via smart contracts on the Ethereum network.
  • Optimism supports the transfer and interoperability of ERC20 tokens from the Ethereum network to the Optimism network. Optimism itself does not have its own native ERC20 tokens.
  • They allows users to access a wide range of ERC20 tokens and decentralized applications (dApps) on Optimism while benefiting from its scalability and low transaction fees.

OP ETH on GEM WalletOP ERC20 Tokens on GEM Wallet


Learn more about ERC20 tokens from this Gem Wallet Learn article: What Is ERC20 and What You Need to Know About Tokens on the Ethereum Blockchain

How to Get Optimism ETH?​

Here are some ways to acquire some Optimism Ethereum (ETH):

  • Buy Optimism Ethereum (ETH) directly on the Gem Wallet app.
  • Receive OP ETH with the unique Optimism Ethereum address on the Gem Wallet app.
  • Swap ERC20 tokens to OP ETH. This requires that you already have OP ETH on your wallet to pay for fees.

Buy OP on GEM WalletReceive OP on GEM Wallet


Send only Optimism Ethereum (ETH) to the address.

Transaction Fees on Optimism​

The fees on Optimism are summarized as follows:

  • Users conducting transactions on the Optimism network pay fees denominated in Optimism Ethereum (ETH).
  • Compared to Ethereum's mainnet, Optimism's transaction fees are generally lower, making it more cost-effective for users to interact with decentralized applications (dApps) and transfer assets.

Send OP Fee Swap OP ETH to OP Fee

How to Check Optimism (OP) Balance?​

Gem Wallet app connects to the Optimism Network to show the OP balance on your wallet. Tap on the 3 dots at the upper right corner, then tap on View address on OP Etherscan.

View Address Link to OP Etherscan OP Address on OP Etherscan


OP Etherscan is the default OP explorer of Gem Wallet. You can manually check balances and transactions by going to OP Etherscan and search for your OP address.