Optimism Announces Partnership with Base Focusing on Protocol Management and Economics.
1. Optimism has partnered with Base, focusing on protocol management and economics.
2. Protocol management involves OP Chains upgrades and sequencing rules.
3. Economics and governance entail cost-sharing with Optimism Collective and granting tokens to Base.
4. If Optimism's 'Law of Chains' framework is approved, a decentralized security council will manage upgrades.
5. Governance proposal for the transition to decentralized council to be submitted by early 2024.
6. Base and OP Mainnet will share upgrades before adopting the Law of Chains.
7. Base's transaction revenues to be split, with a portion going to the Collective through on-chain contracts.
8. Collective's share determined by 2.5% of Base sequencer's total revenue or 15% of net revenue.
9. Optimism envisions this model as a blueprint for Superchain members, enhancing shared infrastructure sustainability.
10. Base can earn around 118 million OP tokens over six years for contributions to Ethereum's expansion and OP Stack.