The Base and Optimism networks have announced a revenue-sharing and governance-sharing agreement. They will use multisignature wallets to share profits and governance, with a “security council” being formed as the ecosystem grows. Coinbase, the parent company of Base, has also published principles of neutrality to prevent centralization. Base’s smart contracts can only be upgraded with the consent of the Optimism team. Base will pay a percentage of its revenue or profits to the Optimism Collective and receive OP Tokens for protocol governance. Base plans to become more decentralized over time and improve scalability. Coinbase pledges to remain neutral and not control user crypto or misuse non-public information. Critics have raised concerns about Base’s centralized nature and potential regulatory scrutiny. Ethereum investors are hopeful that Base and Optimism Superchain will onboard new users.
Summary:
– Base and Optimism networks have agreed to share profits and governance using multisignature wallets.
– A “security council” will be formed as the ecosystem grows.
– Coinbase has published principles of neutrality to prevent centralization.
– Base’s smart contracts can only be upgraded with consent from the Optimism team.
– Base will pay a percentage of its revenue or profits to the Optimism Collective and receive OP Tokens for protocol governance.
– Base plans to become more decentralized over time and improve scalability.
– Coinbase pledges to remain neutral and not control user crypto or misuse non-public information.
– Critics have raised concerns about Base’s centralized nature and potential regulatory scrutiny.
– Ethereum investors are hopeful that Base and Optimism Superchain will onboard new users.
