ETHGas raises $12M as Buterin spotlights onchain gas futures

Ethereum blockspace trading platform ETHGas announced a $12 million raise shortly after ETH co-founder Vitalik Buterin endorsed the idea, promising 50ms transaction times.

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.

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