In a significant move towards strengthening the Base and Optimism networks, the developers behind these platforms have jointly revealed a revenue-sharing and governance-sharing pact. The parent company of Base, Coinbase, has also underscored its commitment to preventing centralization by introducing a set of principles of neutrality.
The announcement was made through separate blog posts on August 24th, featuring contributions from the Optimism Collective, Base, and Coinbase. In addition, this collaborative endeavor marks a crucial step towards ensuring the future stability and inclusivity of these burgeoning networks.
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Base and Optimism disclose numerous features
As disclosed by the Optimism Collective, a cornerstone feature of the Base smart contracts is the requirement for upgrades via a 2/2 multi-signature wallet account. Notably, one signature belongs to Base, while the other resides with the Optimism Network’s team. This setup ensures that Base cannot undergo upgrades without the explicit concurrence of the Optimism team.
The forthcoming evolution of the “Superchain,” facilitated by the adoption of the OP Stack by multiple chains, brings an inherent transition in governance. Additionally, this transition will aid in the formation of a “security council,” comprised of representatives from the diverse array of chains within this ecosystem.
As part of this agreement, Base commits to allocating either 2.5% of its revenue or 15% of its profits to the Optimism Collective. In return, Base will receive a considerable number of OP tokens, with the potential to possess around 118 million tokens.
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It is noteworthy that this allocation will be regulated. This ensures that it does not surpass 9% of the total votable supply, a measure aimed at maintaining equilibrium.
Furthermore, the team remains dedicated to nurturing Pessimism, a pioneering real-time network monitoring tool. Pessimism will proactively detect cybersecurity threats, reflecting a proactive stance on network security.
Coinbase’s Ethereum layer-2 network, BASE, has observed a notable increase in network activity. This recent uptick in activity may correlate with various factors that are causing the surge in activity.