Base and Optimism jointly release the revenue governance sharing protocol

ChainCatcher news, Optimism stated that the collaboration between Optimism and Base has two main components: the first is protocol governance, a joint commitment to the upgrade and ordering rules of OP Chains; the second is economics and governance. This includes sharing costs with the Optimism Collective and granting long-term tokens to Base.

Regarding protocol governance, if the proposed framework Law of Chains introduced by Optimism last month is approved, the next step will be to transfer the responsibility for upgrading Base, OP Mainnet, and other OP Chains to a decentralized security council. The foundation aims to submit a governance proposal to execute this transition in early 2024. Before adopting this blockchain law, Base and OP Mainnet will also share upgrades.

On economics and governance, transaction revenues from Base will be split and directed to the Collective through on-chain contracts. Specifically, the greater of 2.5% of Base sequencer's total revenue or 15% of Base chain sequencer's net revenue (L2 transaction revenue minus L1 data submission costs) will belong to the Collective.

The Optimism Foundation also provides Base with the opportunity to earn up to approximately 11.8 million OP tokens over the next six years, aimed at retroactively rewarding Base for its contributions to scaling Ethereum and the OP Stack.