The Optimism Foundation and Base, a Coinbase-backed Layer 2 platform, have announced a proposal to share governance of OP Chains. Base will receive a grant of 118 million OP tokens spread over six years, in order to reward their contributions to scaling Ethereum and the OP Stack. The grant also ensures Base’s long-term commitment to the ecosystem and gives them a voice in the system of Optimism Governance.The Foundation also outlined a commitment for Base to distribute either 2.5% of its sequencer revenue or 15% of net on-chain profits to the Optimism Collective.The collaboration between Base and the Optimism Foundation follows the “Law of Chains” proposal, which seeks to transition Optimism governance from focusing on the OP Mainnet to all chains on the OP Stack. This is what’s dubbed the Superchain.If the “Law of Chains” is ratified, some of the key steps to be executed will include upgrades across Base, the OP Mainnet, and other chains on OP Stack. The teams will also work on a decentralised Security Council and “Pessimism,” a cybersecurity monitoring tool.Base launched on August 9 and has seen growing traction with total value locked (TVL) up 9% in the past week to $183 million. Optimism currently ranks sixth among top chains with over $715 million in TVL.
| Information |
Details |
| Geography |
Global |
| Countries |
|
| Sentiment |
positive |
| Relevance Score |
9 |
| People |
None |
| Companies |
Coinbase, Optimism Foundation, Base, OP Stack, DeFiLlama |
| Currencies |
OP, Bitcoin, Ethereum, USD, None |
| Securities |
None |
