GIGAMΞSH on Warpcast

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GIGAMΞSH pfp

The market doesn’t seem to accept OP is Base’s token. When Jesse was on Bloomberg recently, even Mike Novogratz asked multiple times when Base will launch a token. Are people just cynical about the relationship between Base <> Optimism? What am I missing? https://www.bloomberg.com/news/videos/2024-06-04/next-gen-of-internet-is-on-base-coinbase-s-pollak-video

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androidsixteen pfp

@androidsixteen.eth

You're missing the fact that Base sequencer fees don't accrue to OP holders

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Why does it need a token?

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Christian Montoya 🦊 pfp

Christian Montoya 🦊

I think you are making an incorrect assumption about how the market is supposed to price OP token. It's the governance token of Optimism. Base is just a participant and holder of OP. The fact that Base is using the Superchain infra is adjacent. It really depends on whether people want to participate in OP governance and how much they desire to buy it to get more voting power. I think it's hard to make a bullish case for someone to want to gain more voting power, especially when Optimism is still giving away tokens in airdrops. I also see no reason for Base / Jesse to hype the underlying infra that Base relies on. What product company constantly mentions that they use AWS or Azure? Sure you buy a Dell computer there might be a sticker saying that it uses Intel processors or Nvidia cards but that's about it.

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acai 🚽🐇 pfp

base already hijacked the show imo. through coinbase, there are probably many more ppl that have heard of base than op. so base has no incentive to clarify it's association with op

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Ryan Wyatt pfp

Personally, I think @jessepollak has been a great advocate for the Superchain. I'll always want them to talk more about Optimism, but Base has an ecosystem to build, and plugging the infrastructure all the time doesn't make sense. Here's how I see it: this is on the Optimism Collective to solve. * Shift the narrative from "Optimism = OP Mainnet" to "Optimism = the Superchain" * Drive "Built on the Superchain" branding across OP Stack chains * Drive product clarity through educational campaigns and visual storytelling * Ship interoperability (native OP token across Base, Mode, etc.) * Keep getting large ecosystem chains to build on OP Stack, contribute revenue, and join the Superchain * Make sure people know Base, Mode, Zora, World Chain, and all Superchains are contributing 15% of their sequencer fees to the Optimism Collective. * Let Grants Council cook and build and invest in the future of OP mainnet If we solve this, the story will tell itself and won't need to be authored by Base or Optimism.

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Metaphorical pfp

Perhaps it isn't clear to the market how value will accrue to OP token through Base utilization.

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Sean Wince 🎩 pfp

Sean Wince 🎩

I don't see OP as Base's token, but also it's true that Base doesn't *need* its own token. ETH is the token more than anything. I think ppl like Novogratz just want another exciting avenue to make a ton of money off an airdrop, and I can't really blame em. Maybe it could still happen one day if gov regs improve...

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Catch0x22 pfp

Wonder if he got the Luna tat removed yet Nothing he says matters, even less so if it's on Bloomberg

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Dylan Hattem pfp

Isn’t @basedevo Base’s token?

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atd pfp

Pretty sure, they will eventually launch a token. Doesn’t mean they won’t honor their agreement (which from what I understand is to do OP buybacks with sequencer revenue)

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Tommy000 pfp

Where does he say that OP is Base's token? He says that Base doesn't have plan to launch a token, but intends to decentralize. The first time Mike asks him he dicusses the lack of regulatory guidance. The second time Mike asks him about the token, he discusses technical aspect of decentralization, but not how Base intends to decentralize governance. He also does not state that Base already has achieved decentralized governance. To me it seems like he dodging the question both times.

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MingMing13 pfp

Your comments here really display the fake female account problem... Reporter type people or normies think everything should have a coin OP is an entirely separate chain. Now I know tech is copy-based technology, and no token is needed, but the low income low capital user just wants more tokens and for price go up

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