/PRNewswire/ —ETHGasa settlement infrastructure for Ethereum, announces the debut of Ethereum’s Blockspace Futures Market, with US$800 million in commitments from leading Ethereum builders and a $12 million seed round led by Polychain Capital.
ETHGas is a settlement infrastructure that makes Ethereum’s block space tradable, allowing users of Ethereum and distributed computing applications to trade, acquire, sell and hedge any quantum of computation and storage on the blockchain.
ETHGas has raised a $12M seed round, led by Polychain Capital, to build Ethereum’s blockspace futures market.
ETHGas addresses Ethereum’s operating limitations and gas price volatility through transaction futures (“pre-confirmations”) across a range of maturities and precise order execution. ETHGas enables Ethereum’s wholesale participants to reduce risk within the transaction pipeline, increasing staking yields while reducing gas price volatility for enterprises and eliminating gas fees for consumers.
ETHGas works closely with the Ethereum Foundation and follows Ethereum co-founder Vitalik Buterin’s call for a gas futures market.
ETHGas celebrates the arrival of Ethereum’s Blockspace Futures Market and establishes blockspace as a unique and tradable asset key to the viability of proof-of-stake blockchains. ETHGas is led by Kevin Lepsoe, a financial engineer and former head of Morgan Stanley’s structured derivatives practice in Asia. He leads a team of engineers and quantitative developers from Morgan Stanley, Deutsche Bank, HKEx and Lockheed Martin.
The launch of ETHGas is accompanied by the closing of a $12 million seed round led by Polychain and with notable investors such as Stake Capital, BlueYard Capital, Lafayette Macro Advisors, SIG DT and Amber Group, as well as Ethereum validators, block builders and relays. Together, these parties have made an initial contribution of US$800 million in commitments to support ETHGas’ marketplace and product development.
Over ETHGas
ETHGas is a marketplace for Ethereum blockspace commitments. ETHGas is transforming the way users interact with Ethereum through low latency, 3ms settlement times, and a comprehensive product suite focused on enabling accurate order execution. ETHGas’ mission is to advance Ethereum into a real-time network that unlocks the next phase of its evolution. We envision a future where end users can protect themselves from gas price volatility, unlock additional revenue opportunities, and improve their experience within the Ethereum ecosystem.
Over Polychain Capital
Polychain Capital is a leading investment firm focused on the blockchain and cryptocurrency space. With a mission to advance the global adoption of decentralized technologies, Polychain supports innovative projects that redefine finance, technology and community engagement.
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