This Month’s Milestone: Base Launch on Optimism
This month marked a momentous first for Ethereum: a publicly listed US company launched its very own OP Chain powered by Optimism.
What Base Represents
- The start of a long-term commitment to Optimism and the Superchain
- The birth of a new economic model for the Optimism Collective
- Proof that a sustainable economic model and Open Source values don’t have to be at odds
The Optimism Collective challenges the belief that public goods cannot be profitable. The OP Stack, an MIT-licensed public good, allows for unrestricted use and modification.
By embedding a fee split into this shared standard, the Optimistic Vision gains traction: sustainable funding for open-source code supporting an optimistic economy.
Base Collaboration and Its Implications
Coinbase’s decision to incubate Base on the OP Stack sparked excitement and raised questions:
- How do new chains affect Optimism’s economics?
- Can OP Chains balance decentralization with their own interests?
- How can development efforts remain unified?
Base and Optimism aligned on fundamental principles:
- Collaboration over competition for scalable solutions
- User-centric operations prioritizing community over chain interests
- Commitment to decentralization and community empowerment
Setting New Standards
Optimism and Base’s collaboration focuses on:
Protocol Management
The Law of Chains framework outlines governance for OP Chains. Base currently shares upgrade authority via a 2/2 multisig with the Optimism Foundation, ensuring compatibility and homogeneity.
Economics and Governance
Key elements include:
- Fee Split: Transaction proceeds from Base contribute to the Collective, promoting sustainability.
- Token Grant: Base receives up to 118 million OP tokens over six years, aligning long-term interests with Optimism’s ecosystem.
Conclusion
This collaboration underscores the technical prowess and shared values of the OP Stack. It’s a testament to what’s achievable when aligned visions converge, paving the way for a vibrant Superchain ecosystem.
We extend our gratitude to Jesse Pollak, Rowan Stone, Brian Armstrong, and the teams at Base and Coinbase for leading this transformative journey.
The Superchain’s future is bright, fueled by global contributors and organizations committed to advancing blockchain technology.
https://optimism.mirror.xyz/Luegue9qIbTO_NZlNVOsj25O1k4NBNKkNadp2d0MsTI
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