ETHGas raises $12M as Buterin revives gas futures debate

ETHGas announced a $12 million seed raise as Ethereum co-founder Vitalik Buterin reignited discussion around onchain gas futures and fee-hedging mechanisms

Ethereum blockspace trading platform ETHGas announced it has raised $12 million in a seed round led by Polychain Capital.

The funding announcement comes after Ethereum co-founder Vitalik Buterin recently discussed the idea of an onchain “gas futures” market, arguing that such a product could give users a clearer signal of expected fees and let them hedge future costs.

ETHGas argues that Ethereum needs “a reimagination of the way blockspace is allocated on the network” and claims that its newly-launched blockspace trading platform is a step in that direction. The company said the market launched with $800 million in commitments from validators, builders and other participants.

Read more