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Can Optimism [OP] benefit from the latest Coinbase move?

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The much-awaited Coinbase layer 2 solution will be launching on the Optimism network very soon. It’s important to note that multiple factors are in favor of Coinbase’s new initiative.The success of Coinbase’s layer 2 solution could have a positive impact on the Optimism protocol, but the same cannot be said for the OP token.Is your portfolio green?

Check out the Optimism Profit CalculatorOne of the ways in which Optimism would benefit from Coinbase’s layer 2 protocol would be through the fees generated by Coinbase.The exchange would be contributing a portion of its fees collected on its network to the Optimism protocol.

With the help of the fees collected through Coinbase, Optimism can earn more revenue.With another stream of revenue added to the Optimism protocol, it could reduce the fees applied to the users on its network and help them save more of their ETH.This would make the Optimism network more attractive to crypto users and it would help the layer 2 solution outperform its competitors such as Arbitrum.Source: Dune AnalyticsEven though the Coinbase collaboration may help improve the conditions of the Optimism protocol, it may not have the same effect on the OP token.Notably, Coinbase has more incentive to have USDC as the native token on its protocol, rather than OP.This is because USDC is issued by Centre, a consortium co-founded by both Circle and Coinbase.

If USDC does end up becoming the native token of Coinbase’s layer 2 solution, OP may not be able to reap the same rewards as the Optimism protocol.Source: MessariHowever, for the time being, OP observed a lot of growth.

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