New Coinbase Layer-2 Project To Share Revenue With Its Development Partner in Pursuit of ‘Superchain Future’
Coinbase’s new Ethereum (ETH) layer-2 scaling solution Base will share its revenue with its development partner, the Optimism (OP) Collective, in an effort to build what it calls the “Superchain future.”
The Optimism Collective bills itself as “a band of companies, communities, and citizens working together to reward public goods and build a sustainable future for Ethereum.”
It is involved in the governance of Optimism, another Ethereum layer-2.
Base says in a new announcement that it has a shared vision for scaling Ethereum with the OP Collective.
“We dreamt of a ‘Superchain’ future: a web of rollups and L2s, all working together to jointly scale Ethereum. Chains that are part of the Superchain will allow builders and users to transact and move across chains easily and affordably, creating a consistent user experience and laying the groundwork for teams everywhere to build a decentralized future.”
Coinbase built Base in collaboration with the OP Collective and now plans to share a percentage of the Base sequencer revenue with the project.
Explains Base,
“This amount will be contributed onchain, split from sequencer revenues and routed to the Optimism Collective to be allocated towards Retroactive Public Goods Funding (RetroPGF) or other ecosystem projects. Base has committed to contribute either 2.5% of Base’s total revenue from sequencing or, if it’s more, 15% of the profit Base makes from L2 transactions after subtracting the costs of submitting data to L1.”
Base will also take part in the on-chain governance of Optimism.
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Author: Daily Hodl Staff
