According to Bitjie.com, ETHGas has raised $12 million in a seed funding round led by Polychain Capital, with participation from Stake Capital, BlueYard Capital, and others. The project also announced the launch of what it claims is the first Ethereum block space futures market, backed by $800 million in liquidity commitments from validators, block builders, and other Ethereum participants. The funding round, which began in July and concluded last month, was conducted via a token issuance model using Simple Agreements for Future Tokens (SAFTs). ETHGas allows users to trade block space in advance, offering validators new ways to capture MEV and improve earnings. The platform also aims to significantly increase Ethereum’s speed by enabling block fragmentation, potentially boosting throughput by 100-200 times.
ETHGas Raises $12M in Seed Round and Launches Ethereum Block Space Futures Market
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Ethereum news: ETHGas has raised $12 million in a seed round led by Polychain Capital, with Stake Capital and BlueYard Capital also participating. The project launched the first Ethereum block space futures market, backed by $800 million in liquidity from validators and builders. The funding used SAFTs and closed last month. ETHGas lets users trade block space ahead of time, helping validators capture MEV and boost earnings. The platform also aims to increase Ethereum ecosystem news by enabling block fragmentation, which could multiply throughput by 100-200 times.
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