The Law of Chains: Opting into a Governance Collective and Technical Standards Body

15min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

In this chapter, the hosts discuss the concept of the law of chains as a draft document that chains opt into, similar to the articles of confederation. They explain that when talking about the law of chains, they are referring to opting into a governance collective and a technical standards body.

On today’s episode we brought on repeat Bankless guests, Ben Jones, Co-Founder of Optimism and Creator of Base, Jesse Pollock.

------ ✨ DEBRIEF | Ryan & David unpacking the episode: https://www.bankless.com/debrief-superchain

----- Base! Coinbase’s Layer 2 has almost hit 1 million users in 2 weeks. It has more transactions per second than Ethereum mainnet. Jesse digs into the magnitude of this development. Base chain was built on Optimism’s tech stack. This is just 1 chain of many thousands we’ll see over the coming years. How do we tie them all together? Ben dives into all things Superchain. The Superchain is how we bring 1 billion people onchain.

----- 🏹 Airdrop Hunter is HERE, join your first HUNT today https://bankless.cc/JoinYourFirstHUNT

------ 📣 SAFE CORE | Smart Wallet Infrastructure https://safe.global/core

------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE ⁠https://k.xyz/bankless-pod-q2 ⁠

🦊METAMASK PORTFOLIO | MANAGE YOUR WEB3 EVERYTHING ⁠https://bankless.cc/MetaMask

⚖️ ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum ⁠

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle ⁠

🦄UNISWAP | ON-CHAIN MARKETPLACE ⁠https://bankless.cc/uniswap

👾STADER LABS | ETHX LIQUID STAKING https://bankless.cc/Stader

----- TIMESTAMPS

0:00 Intro 7:42 Base Launch Reflection 9:53 Optimism’s Reflection 11:35 Coinbase x Optimism Collaboration 17:14 OP Stack Incentives 23:43 Base’s Impressive Numbers 26:26 Explaining the Superchain 31:40 Why Join the Superchain? 33:55 The Law of Chains 45:26 The Coinbase Onchain Formula 51:15 Base Part of Optimism Governance 58:40 What About Other L2s? 1:04:56 Optimism Collective’s Fee 1:08:25 The Tech Behind the Superchain 1:13:34 Superchain Timeline 1:15:45 Fault Proofs 1:18:36 Risk Profile of Base 1:22:15 Optimism’s Governance Minimization 1:24:10 Wen Fault Proofs & Stages 1:30:00 How Many Clients Does Optimism Have? 1:33:36 Near Term Focus For Base 1:37:01 Near Term Focus For Optimism 1:38:27 Closing & Disclosures

----- RESOURCES

Jesse Pollock https://twitter.com/jessepollak

Ben Jones https://twitter.com/ben_chain

The Law of Chains https://gov.optimism.io/t/law-of-chains-v0-1-full-draft/6514

----- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures ⁠