Gas on Ethereum will become a tradable asset with the launch of the GWEI token

The total supply will be 10 billion coins, of which 10% will go to the community. The remaining assets will be distributed as follows:

31% — to the ecosystem;
27% — to investors;
22% — to the team;
8% — to the foundation;
2% — to advisors.
According to developers, Ethereum remains the leading settlement layer in the crypto industry, but the current mechanism for allocating space in blocks cannot keep up with application demands. The result is transaction delays and sharp spikes in fees.

To address this issue, the ETHGas team proposed changing the scheme for accessing block space. Protocols will be able to reserve guaranteed bandwidth on the secondary market in advance, enabling a “scalable user experience without fees.”

The ecosystem will be managed by GWEI token holders. They will vote on key issues: from adjusting network parameters to approving updates and treasury distribution.

The coin launch followed a funding round of $12 million. Previously, ETHGas also introduced the first futures market for Ethereum block space with guaranteed liquidity of $800 million.

The primary target audience for ETHGas is institutional players: exchanges, funds, and large DeFi protocols. They value guaranteed bandwidth and protection from price shocks during network congestion.

On January 19, ETHGas developers will take a snapshot for airdrop. They did not specify the exact launch date for GWEI.

Recall that in early December, Ethereum co-founder Vitalik Buterin proposed creating a futures market for gas in the second-largest cryptocurrency by market cap. In his view, such an instrument would help hedge risks associated with potential fee increases.