Developers behind the Base and Optimism networks have jointly announced a revenue-sharing and governance-sharing agreement. Coinbase (NASDAQ:COIN), the parent company of Base, has also published a list of “principles of neutrality” it will follow to prevent Base from becoming centralized. This announcement was made through three separate blog posts on Aug. 24: one from the jointly controlled Optimism Collective, one from Base and one from Coinbase.
According to the Optimism Collective’s post, Base’s smart contracts can only be upgraded via a two-of-two multisignature wallet account. One signature is controlled by Base and the other by the Optimism network’s team (called the “Optimism Foundation”). This means that Base cannot be upgraded without the consent of the Optimism team. As more chains opt to use the OP Stack and become part of the “Superchain,” governance will be handed over to a “security council” with representatives from all of the chains that comprise this ecosystem.