The joint announcement by the developers behind the Base and Optimism networks reveals a revenue-sharing and governance-sharing agreement. The two networks will utilize multisignature wallets to share profits and governance. A “security council” will be established as the ecosystem expands. Base, the parent company of Coinbase, has also outlined 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 in return. The Base team aims to decentralize over time and improve scalability. Coinbase commits to remaining a neutral participant in the Base network and will not misuse any non-public information or alter transaction orders for its benefit. Critics have raised concerns about Base’s centralized nature, but many Ethereum investors are hopeful about its potential to onboard new users.
Summary:
– Base and Optimism networks announce revenue-sharing and governance-sharing agreement
– Multisignature wallets will be used for profit and governance sharing
– A “security council” will be formed as the ecosystem grows
– Base outlines principles of neutrality to prevent centralization
– Base’s smart contracts can only be upgraded with Optimism team’s consent
– Base will pay a percentage of revenue or profits to Optimism Collective and receive OP Tokens in return
– Base aims to decentralize over time and improve scalability
– Coinbase commits to remaining a neutral participant in the Base network
– Critics raise concerns about Base’s centralized nature
– Ethereum investors hopeful about Base’s potential to onboard new users