The head of the Base protocol responded to the controversy over the flow of sorter income: Holding ETH is indeed valuable, but we should not pay too much attention to the HODL strategy
Odaily News Jesse Pollak, head of the Base protocol, posted on X that he had further considered the controversy over the flow of Base sorter revenue:
1. Purity tests like “do you keep all the ETH you earn” are a distraction that harms Ethereum. Focusing too much on virtue signals like this distracts us from the real work, which is building products that people love, creating a sustainable economy, and enabling more people to do the same.
2. Base's goal is to bring the world onto the chain. We believe that the best way to achieve this goal is to build a sustainable economic engine to fund global growth. We believe that more on-chain companies that can do the same thing are needed.
3. For us, this means finding ways to generate revenue and then reinvesting that profit into growth - salaries, grants, acquisitions, infrastructure, ~15% of revenue for public goods funding via Optimism, sponsoring one-off events like solidy audits, etc. Our priority is to build a great product and a vibrant economy, and we will do whatever it takes to achieve that. Spending money on growth is a good thing and worth celebrating.
4. At the same time, we believe that holding ETH (we hold over 100,000) is also valuable to strengthen its role as a store of value and share in the upside created by our building on Ethereum, but this is a privilege we earn through our ability to create value. This is not a "solution" that people should focus on, but the end state that the ETH asset achieves by remaining useful and efficient.
5. We recognize that all of this is not as transparent as it should be, and our quarterly reporting is built around the structure of a US public company. But as Base becomes increasingly decentralized as a global on-chain economy, we are working to move more business onto the chain (suppliers, contractors, etc.) so that they can be immediately visible, rather than running on a quarterly rhythm like the off-chain world.
Stay based, keep building.
