Base, Optimism unveil shared governance and revenue-sharing framework

Developers down the Base and Optimism networks person jointly announced a revenue-sharing and governance-sharing agreement. Coinbase, the genitor institution of Base, has besides published a database of “principles of neutrality” it volition travel to forestall Base from becoming centralized. This announcement was made done 3 abstracted blog posts connected Aug. 24; 1 from the jointly-controlled Optimism Collective, 1 from Base, and 1 from Coinbase.

According to the jointly-controlled Optimism Collective’s post, Base’s astute contracts tin lone beryllium upgraded via a 2/2 multi-signature wallet account. One signature is controlled by Base and the different by the Optimism network’s squad (called the “Optimism Foundation”). This means that Base cannot beryllium upgraded without the consent of the Optimism team. As much chains opt to usage the OP Stack and go portion of the “Superchain,” governance volition beryllium handed implicit to a “security council” with representatives from each of the chains that comprise this ecosystem.

— Optimism (✨_✨) (@optimismFND) August 24, 2023

Base volition besides wage either 2.5% of its gross oregon 15% of its profits to the Optimism Collective, whichever is greater. In return, it volition person “up to astir 118 cardinal OP Tokens,” allowing it to person a dependable wrong Optimism’s protocol governance. This magnitude volition beryllium capped astatine 9% of the full votable proviso “in bid to support balance,” the announcement stated.

The station from Base was issued nether the sanction of its main creator, Jesse Pollack. He pledged that Base volition go much decentralized implicit time, moving from what Vitalik Buterin called “stage 0” to “stage 2” of a Layer 2’s decentralization. The Base squad volition enactment to amended the scalability of the 2 existent Optimism clients, op-geth and op-node, and make an wholly caller lawsuit called “op-reth” to diversify the types of clients used.

Related: Coinbase layer-2 web Base hits 136,000 regular progressive users

The squad volition besides proceed to make Pessimism, a real-time web monitoring instrumentality that attempts to observe cybersecurity threats early.

In addition, Pollak confirmed that Base volition stock gross with the Optimism Collective and volition yet manus implicit upgrade keys to an Optimism Security Council.

Coinbase's station was published nether the sanction of the company’s engineering lead, Will Robinson. He focused specifically connected the conception of “neutrality.” 

Robinson pledged that Coinbase volition stay a neutral subordinate successful the Base network. The speech volition not “custody oregon power the crypto that users bring to Base network,” nor volition it alteration the bid of transactions for its ain payment oregon “misuse immoderate non-public accusation gleaned from Base.” 

Robinson claimed that Coinbase’s selling squad and different branches of the institution volition usage lone publicly-available information from artifact explorers and different tools successful their efforts to merchantability Coinbase’s products, gaining nary insider vantage from moving Base’s sequencer. Withdrawals from Base volition besides beryllium processed without censorship, respecting what Robinson calls “Freedom to exit.”

Some critics of Base web person suggested that its presently centralized quality whitethorn pb to regulatory scrutiny from the United States Securities and Exchange Commission. For example, lawyer Gabriel Shapiro has stated that Base “could endanger unsafe collateral damage” to the industry. 

Coinbase CEO Brian Armstrong besides raised eyebrows connected March 7 by suggesting that “centralized players” connected Base must instrumentality individuality verification. Despite these criticisms, galore Ethereum investors person expressed anticipation that Base and the Optimism Superchain volition help to onboard caller users to the Ethereum ecosystem.