The Optimism Foundation is set to hold a crucial governance vote on January 22, 2026, regarding a proposed token buyback program. The proposal suggests allocating 50% of Superchain revenue to open-market buybacks of OP tokens, with the remaining funds directed towards ecosystem grants. This initiative aims to align the OP token with the growing demand for the Superchain. Currently, the OP token is trading around $0.30, having experienced a significant decline from its peak of $4.85 in March 2024. The buyback program, if approved, will commence in February and could potentially boost the token's price, with targets ranging from $0.52 to $0.75. However, bearish sentiment persists, and the token risks falling to its all-time low of $0.25 if downward pressures continue.