Opinion: Optimism exchanged $177 million for 15% of Base's "equity", based on which Base's valuation is estimated at $1.18 billion

Odaily Planet Daily News dForce founder Yang Mindao tweeted: "An agreement reached today between Base and Optimism shows that Base seeks 2.75% OP from brand Optimism as the basis for long-term bundling. These OPs are currently low in circulation. The market value is about $177 million. In return, Base will share 2.5% of the sorter revenue or 15% of the profits (whichever is greater) to Optimism. This is equivalent to Optimism's 2.75% "equity" ($177 million) , in exchange for 15% of the "equity" of Base, so the estimated value of Base is 1.18 billion U.S. dollars." This morning, Base and Optimism developers jointly announced a revenue sharing and governance sharing agreement: Base's smart contracts can only be upgraded through 2/2 multi-signature wallet accounts. One signature is controlled by Base and the other by the Optimism Foundation. This means that Base cannot be upgraded without the consent of the Optimism team. Base will also pay Optimism Collective 2.5% of its revenue or 15% of its profits, whichever is greater. In return, Base can receive “up to 118 million OP tokens” over the next six years, giving it a say in Optimism’s protocol governance.