coin-img-ETHETH-0.99%coin-img-BTCBTC+1.13%coin-img-SOLSOL+1.71%coin-img-XRPXRP-0.76%coin-img-ULTIMAULTIMA-0.26%coin-img-USDCUSDC+0.01%coin-img-DOGEDOGE+0.38%coin-img-TONCOINTONCOIN-4.28%coin-img-ETHETH-0.99%coin-img-BTCBTC+1.13%coin-img-SOLSOL+1.71%coin-img-XRPXRP-0.76%coin-img-ULTIMAULTIMA-0.26%coin-img-USDCUSDC+0.01%coin-img-DOGEDOGE+0.38%coin-img-TONCOINTONCOIN-4.28%coin-img-ETHETH-0.99%coin-img-BTCBTC+1.13%coin-img-SOLSOL+1.71%coin-img-XRPXRP-0.76%coin-img-ULTIMAULTIMA-0.26%coin-img-USDCUSDC+0.01%coin-img-DOGEDOGE+0.38%coin-img-TONCOINTONCOIN-4.28%coin-img-ETHETH-0.99%coin-img-BTCBTC+1.13%coin-img-SOLSOL+1.71%coin-img-XRPXRP-0.76%coin-img-ULTIMAULTIMA-0.26%coin-img-USDCUSDC+0.01%coin-img-DOGEDOGE+0.38%coin-img-TONCOINTONCOIN-4.28%

Coinbase's Base to End OP Stack Revenue Sharing as OP Token Falls 25% Since Wednesday

Coinbase's Layer 2 network Base is transitioning from Optimism's OP Stack to proprietary code and will stop revenue sharing with the Optimism Collective, a program that has generated over $16 million to date, an Optimism spokesperson confirmed. Base has contributed 8,387 ETH—worth about $16.4 million at Wednesday's prices—representing 41% of the Optimism alliance's total revenue and reaching 90% of monthly revenue in January, DL News reports. Following the announcement, Optimism's OP token fell roughly 25% from Wednesday, trading just under $0.14 compared to its 2024 all-time high of $4.84, while Coinbase and OP Labs CEO Jing Wang said Base will remain a customer of OP Labs' "OP Enterprise Services." The shift raises questions for the Superchain consortium built on the OP Stack, which includes Sony's Soneium, Uniswap's Unichain, Kraken's Ink, Worldcoin's World Chain, and Optimism's OP Mainnet, according to DL News.
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OP
OP-11.43%
ETH
ETH-1.03%
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