Morning Minute: Base Breaks Up With Optimism

Morning Minute is a every day publication written by Tyler Warner. The evaluation and opinions expressed are his personal and don’t essentially replicate these of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Right now’s prime information:

• Crypto majors rebounded 1-3%, with SOL main; BTC at $67.4k
• CME to supply 24/7 crypto futures & choices buying and selling beginning Might 29
• The third White Home assembly on stablecoin yield reveals little progress
• Federal choose in Tennessee blocks state-level enforcement in opposition to Kalshi
• PUNCH meme soars 200% to $32M because the monkey goes viral

🔵 Base Breaks Up With Optimism

Coinbase’s Base goes unbiased.

A lot to the chagrin of the Superchain.

📌 What Occurred

Base, the most important chain within the OP Stack Superchain, introduced Wednesday it’s ditching Optimism’s tech stack in favor of a totally in-house codebase known as base/base.

OP fell as a lot as 20% on the information.

Base printed a weblog put up titled “A brand new, unified stack for Base Chain,” saying it should consolidate its sequencer, proofs, and all core infrastructure right into a single Base-managed repository.

Beforehand, Base relied on code from Optimism, Flashbots, and Paradigm unfold throughout a number of groups and repos. The brand new stack replaces Optimism’s optimistic proofs with Base-specific TEE/ZK proofs (Base V1 laborious fork, coming quickly), and removes Optimism from the Base Safety Council, changing it with an unbiased signer.

Two extra laborious forks are deliberate, with Base V3 timed round Ethereum’s upcoming Glamsterdam improve.

There can be no disruption for finish customers, however node operators might want to migrate to base/base releases.

🗣️ What They’re Saying

“The mission Base launched with is similar mission we’ve immediately: make it the perfect place to construct and onboard the following billion folks into the onchain economic system. We knew that this required making a safe, low-cost, developer-friendly dwelling for anybody, wherever, to construct on prime of. To get there rapidly, Base launched as an OP Stack chain.”

“To speed up innovation, scaling and safety, Base is evolving its foundational software program by shifting to a unified, Base-operated stack.” – from the Base announcement

🧠 Why It Issues

Right here’s the quantity that tells the entire story: Base has traditionally generated over 90% of the Superchain’s whole income. That’s the income that flows to the Optimism Collective—to not Coinbase, to not Base.

For years, Base has been the engine powering another person’s token.

Now that’s about to vary.

Base is $3.85B in TVL and the dominant L2 by exercise, and now it should have extra management over its financial future.

This beautiful a lot needed to be accomplished to maximise revenues, and definitely a prerequisite for any BASE token launch plans.

And apparently sufficient, the rumor mill has been heating up about BASE token launch plans for 2026.

So general, it’s a win for Base, a loss for Optimism and impartial for finish customers – until it accelerates that BASE token launch…

🌎 Macro Crypto and Markets

Company Treasuries & ETFs

Meme Coin Tracker

• Meme majors have been barely inexperienced; DOGE +1%, SHIB +1%, PEPE -1%, TRUMP +7%, PENGU +1%, SPX -2%, FARTCOIN -1%
• PUNCH jumped 170% to $32M main prime movers; LOBSTAR (+60x), HODL (+12x) and Ailens (+35x) have been different notable movers

💰 Token, Airdrop & Protocol Tracker

• The DBA Fund introduced a $62M increase for its 2nd crypto fund
• USDAi introduced its Season 2 of factors, promising an airdrop for its rewards
• TradeXYZ formally launched Korean equities for perps buying and selling
• A Federal choose in Tenessee blocked states from imposing state-level betting legal guidelines in opposition to Kalshi (prediction markets), saying sports activities contracts qualify as swaps

🚚 What is occurring in NFTs?

• NFT leaders have been flat; Punks even at 29.8 ETH, Pudgy even at 4.3 ETH, BAYC -2% at 6.1 ETH; Hypurr’s even at 500 HYPE
• Normies (+277%), World Pc Netizens (+67%) and Del Mundos (+33%) led prime movers