Two companies have taken another step toward the Superchain creation.
Base, a permissionless Ethereum L2 network, further strengthened its partnership with Optimism Collective, agreeing to share revenue and governance.
Both companies released statements announcing the decision on August 24th. Reportedly, the collaboration aims to establish the beginning of the Superchain, the idea of an open global economy through decentralization.
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According to Optimism’s statement, there are two important aspects to the partnership.
Firstly, the protocols will be managed through a 2-signature system, which ensures that upgrade authority is shared between the two parties, “with no single entity having unilateral control over the canonical sequencer address, batcher, challenger, sequencer window, and other critical upgrades.”
In the future, protocol upgrade execution will be in the hands of an independent Security Council consisting of community members.
Besides, the collaboration is built on long-term commitment, and a percentage of Base transaction proceeds will go to the Optimism Collective.
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.
Another component is governance, both parties are said to embrace the Law of Chains, the “guiding principles for Optimism Governance and the Superchain.” These rules should allow the blockspace to remain open and neutral.
Lastly, Base stated it will adhere to the Base Neutrality Principles, which were introduced by Coinbase, the parent company of Base. The focus is on user autonomy, unbiased transactions, and freedom to exit.
As another step towards the Superchain, the Optimism Foundation, an organization behind Collective, recently announced the conclusion to its “Bedrock” upgrade, which should lower deposit times and reduce fees.
