Base

I love these values from @vitalik.eth 
 
this is how @base has been building from the beginning and we're not going to stop. lots more work to do.

I love these values from @vitalik.eth 
 
this is how @base.base.eth has been building from the beginning and we're not going to stop. lots more work to do.

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from his piece, making ethereum alignment legible

https://vitalik.eth.limo/general/2024/09/28/alignment.html

the other two (three?) as well!

@base is a part of ethereum, will continue using ETH as its native asset, and will continue contributing to the underlying technology and economic platform to grow the ethereum economy.

we also deeply care about building a positive sum relationship with the broader world — our mission is to build a global onchain economy that increases innovation, creativity, and freedom. and we won't stop until that's done.

one caveat to all this (and I think why I left this out in the first place): I don't think it's @base's role to dictate how specifically we drive value for *ETH holders*. from where I sit, the @base and @ethereum relationship is symbiotic, with each side driving positive sum outcomes that strengthen the other. how ethereum decides to direct those outcomes in support (or not) of ETH price feels like a separate consideration that is best left to the leaders of ethereum (wherein i like to think I play a small role).

does that make sense?

As a non-dev econ-pov, here are 2 ideas:

1: Is there a world where ETH validators also become decentralized sequencers on base? Inherently this means sharing fees with the broader ETH ecosystem, and also strengthens shared security between Base and Ethereum. To make up for lost $COIN sequencer revenue, see #2.

2: Base can apply *some* txn fees, as pure revenue for $COIN. There is value in global + instant settlement, and you can charge some fraction of Stripe’s fees, with better UX. The fees friction can also be abstracted via paymaster. At scale (100M+ users), small bps will add up to a sustainable and material revenue.

Would love to hear from the giga brains 🙏

the other two (three?) as well!

@base.base.eth is a part of ethereum, will continue using ETH as its native asset, and will continue contributing to the underlying technology and economic platform to grow the ethereum economy.

we also deeply care about building a positive sum relationship with the broader world — our mission is to build a global onchain economy that increases innovation, creativity, and freedom. and we won't stop until that's done.

one caveat to all this (and I think why I left this out in the first place): I don't think it's @base.base.eth's role to dictate how specifically we drive value for *ETH holders*. from where I sit, the @base.base.eth and @ethereum relationship is symbiotic, with each side driving positive sum outcomes that strengthen the other. how ethereum decides to direct those outcomes in support (or not) of ETH price feels like a separate consideration that is best left to the leaders of ethereum (wherein i like to think I play a small role).

does that make sense?

What about the other two? 🙂 

ie. how would you answer a worried Ethereum person arguing that "Base is not Ethereum" because if Base ends up taking over most crypto activity then it's clear how Coinbase economically prospers but it's not clear how the Ethereum community economically prospers?

I am part of the crypto and web3 community. Moderator at /bigenergy

Warpcast for the vibes

So many points worthy of note. I just read the full piece. I love the line where he says “ you can only be a meritocracy if merit is defined”.