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GIGAMΞSH
@gigamesh
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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Christian Montoya 🦊
@m0nt0y4
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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GIGAMΞSH
@gigamesh
I disagree the Superchain is adjacent. Base’s long term viability relies on becoming decentralized (ie the superchain, governed by OP). Novogratz was suggesting a token is necessary for decentralization. That token already exists. 🙂
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Christian Montoya 🦊
@m0nt0y4
A governance token is absolutely necessary for decentralization. But that decentralization is achieved regardless of whether the token is priced at $0.01 or $100 by the market. The market decides whether it wants to participate in governance or not. Like any democracy, choosing not to vote is a vote. Base could issue their own governance token for anyone to participate in governance of Base mainnet specifically. The market could decide that they want to participate in governance of Base moreso than OP Mainnet / Superchain. That doesn't seem crazy to me.
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