OP trades at 589x P/S on $900k annual revenue after base took 94% of fee income and walked away. open source playbook is complete: fork the tech, accept the grants, build the business, exit superchain, keep 100% of revenue. base did it. unichain holding $20b UNI token has every reason to do the same. coinbase stock captured all the value OP holders thought they owned. $78m annual base revenue flows to COIN not OP. the better op stack technology gets, the easier it becomes to fork and leave. ...

Core Viewpoint - Base, the largest chain in the OP Stack Superchain, is transitioning to an independent codebase, moving away from Optimism's technology, which has significant implications for its economic future and operational control [2][6]. Group 1: Company Developments - Base announced it will consolidate its sequencer, proofs, and core infrastructure into a single Base-managed repository, moving away from reliance on Optimism's tech stack [2][3]. - The new stack will replace Optimism's optimistic proofs with Base-specific TEE/ZK proofs, and Optimism will be removed from the Base Security Council [3]. - Base has historically generated over 90% of the Superchain's total revenue, indicating its critical role in the ecosystem [6]. Group 2: User Impact - There will be no disruption for end users during this transition, although node operators will need to migrate to the new base/base releases [4]. - The mission of Base remains focused on creating a secure, low-cost, developer-friendly environment for building on-chain applications [5]. Group 3: Market Position - Base currently holds a total value locked (TVL) of $3.85 billion and is the dominant Layer 2 by activity, which positions it favorably for future growth and control over its economic destiny [8].

RT karl.floersch.eth (✨🔴_🔴✨) (@karl_dot_tech)Big day for the Superchain. 🔴✨We’re integrating ZK more deeply into the OP Stack, and are excited to announce that @SuccinctLabs is our first preferred proving partner in this area. Validity proofs are going — and withdrawals are about to get faster.Here's what that means.⸻THE 7-DAY PROBLEMOptimistic rollups have a 7-day challenge window. Anyone can challenge a bad state transition during that period. For most users, this is abstracted away with app-layer bridges ...

Core Insights - Optimism Superchain is projected to reach 3.6 billion transactions in H2 2025, marking a 44% increase since June 2025 [1] - The OP Stack chain has captured over 50% of the total L2 market share since April of last year, and at one point accounted for 12.2% of all cryptocurrency transactions [1] - Both Upbit and OKX have adopted the OP Stack, with Upbit launching Giwa and OKX migrating X Layer to the platform [1]

Core Viewpoint - The Optimism Foundation is proposing a mechanism to enhance the connection between the OP token and the growth of its Superchain ecosystem by using 50% of Superchain revenue for OP token buybacks [1][2]. Group 1: Proposal Details - The proposal will be put to a governance vote on January 22, with monthly buybacks starting in February, funded by revenue from sequencer fees across various chains built on the OP Stack [2]. - The Superchain includes networks such as Coinbase's Base, Uniswap's Unichain, World's World Chain, and Sony's Soneium [2]. - Optimism has generated 5,868 ETH in revenue from the Superchain, which is currently directed into a token-governed treasury [3]. Group 2: Token Management and Future Plans - The new mechanism aims to transition the OP token from a governance-only role to one that is more closely tied to protocol revenue, aligning token holders with the growth of the Superchain [4]. - If the proposal is approved, the remaining 50% of Superchain revenue will be managed by the Optimism Foundation for active treasury management and ecosystem investments [5]. - The acquired OP tokens from buybacks may be burned or distributed as staking rewards based on future governance decisions [3]. Group 3: Executive Insights - Bobby Dresser, the executive director of the Optimism Foundation, emphasized the importance of connecting the broader Superchain to the OP token, indicating that the token's role will expand as the ecosystem grows [6].

RT Ignas | DeFi (@DefiIgnas)$BASE would likely trade $3.9B - $7.3B FDV if valued at $ARB, $OP or $LINEA FDV/TVL multiples.That puts it far below $AVAX (~$14B), Hedera (~$12B), BCH (~$11B), $IP, $ENA, $UNI and others.Even with Base posting the highest L2 chain revenue ($5M last month vs $1.6M for Arbitrum), it’s not enough to command a big premium.If Base was an L1, valuation would be way higher. But they’ve been clear: Ethereum alignment is their priority.Clearly, L2 tokens are cooked.Where Base can stand o ...

optimism collected $295m from coinbase to build base. they now control the tech stack for 40% of all l2 value through op stack infrastructure. $8.4b tvl runs on their rails but op trades at $1.8b like it's just another rollup competing for users. they own the picks and shovels. ...