星球日报
星球日报|12月 07, 2025 08:03
[Hasu and Vitalik Debate On-Chain Gas Futures Market: Weak Long Interest Leads to Insufficient Liquidity, May Struggle to Scale] Odaily Planet Daily News – Flashbots Strategy Lead and Lido Strategic Advisor Hasu posted on Platform X, commenting on Vitalik's proposal to establish an on-chain gas futures market. He stated that such a market lacks natural short sellers: a large number of users are inherently exposed to gas cost risks (short positions) and wish to hedge, but there are almost no participants willing to take long positions on gas. As a result, liquidity may be insufficient, making it difficult to form a meaningful market scale. In response, Vitalik suggested that the protocol itself could act as the market's short seller, by auctioning off the rights to use future base fees on-chain (up to 2 years in advance). Although Hasu questioned the incentive effectiveness of this model, Vitalik explained that users or application developers who pre-purchase gas would shift from being 'natural gas shorts' to 'neutral.' Meanwhile, the protocol, due to the burning of base fees, is inherently in a 'long' position. Through pre-sales, this portion of risk could be neutralized.
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