Optimism Collective and Layer 2 Base have announced a strategic partnership aimed at fostering revenue sharing and governance cooperation.
Layer-2 Base And Optimism Collective Collaborate On Revenue Sharing And Governance
Optimism Collective, the governing body of the Optimism network, and Layer 2 Base, a project backed by Coinbase, have announced a strategic partnership aimed at fostering revenue sharing and governance cooperation.
Following a proposal from Optimism Collective, Layer 2 Base has agreed to provide Optimism Collective either 2.5% of its overall sequencer income or 15% of its net profits, whichever is higher.
According to The Optimism Collective, Layer 2 Base will be rewarded for making this promise with up to 118 million OP tokens, or around $175 million, given over a six-year period.
On August 9, Layer 2 Base launched as a Layer 2 chain on the Ethereum network. Layer 2 Base was created using Optimism's OP stack and has the support of Coinbase. It is an essential part of the larger "Superchain" ecosystem.
This collaboration is founded on a shared dedication to the protocols governing upgrades and sequencing of OP Chains, showing their commitment to an interoperable and standardized framework.
Additionally, collaborative efforts between the Base and Optimism teams have led to the conception of a "security council" to oversee secure upgrade execution. The teams are also actively engaged in the creation of "Pessimism," a real-time cybersecurity threat detection tool.
In line with these developments, Layer 2 Base is also starting a strategic decentralization project to improve network uptime and security. The strategy includes the implementation of fault proofs and multiple clients.
