If you have participated in Restaking on Eigen Layer recently, you will surely be heartbroken that one transaction has to cost 80 USD. High gas fees on Ethereum seem to be a constant pain for everyone. So how to minimize the damage caused by high gas fees? Gas Finance offers a solution to help you answer this question.
Overview of Gas Finance
What is Gas Finance?
Gas Finance is a decentralized exchange. The goal of the project is to tokenize gas fees on the market so that they can be traded at AMMs, this will help users minimize the impact of excessively high gas fees during peak times on the network. go out.
Gas Finance operating mechanism
Gas Finance creates an AMM for everyone to provide liquidity. Here, LPs only need to provide one-sided liquidity in ETH, the project will automatically adjust the remaining portion.
The project will monitor and analyze gas prices for each block and predict gas prices for the next blocks to adjust the level of liquidity concentration so that LP’s liquidity provision is most beneficial, LP can collect the most transaction fees. The project does this using a model called Deep Learning and monitoring transactions in Mempools (Mempools are where transactions are stored before waiting for confirmation from miners).
For users, they use Gas Finance to minimize losses caused by gas fees by buying Gas tokens at low prices and selling them when they increase in price. For example: You predict that Restaking on Eigen Layer will take place today, so you decide to buy gas tokens first at a low price. When the event takes place and the gas price really increases, then you can sell the gas. My tokens go to offset the actual gas costs I have to pay.
Gas Finance Development Roadmap
Quarter 2 2023
- Assemble the project team
- Complete MVP development (Gas Token Trading, Liquidity Management)
Quarter 3 2023
- Launched testnet on Arbitrum and ZkSync
- Launched Bug Bounty
- Mainnet
Quarter 4 2023
- Integrate Account Abstraction with smart contract wallet
- Develop arbitrage trading function
- Develop trading interface
Core Team
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Investors and Partners
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Tokenomics
The project will have 2 tokens: GAT and GFG
- GAT is a token that represents gas fees on the market. When you provide liquidity on Gas Finance’s pool, GAT will be generated accordingly to create LP tokens. The amount of GAT will be strictly controlled by the DAO and there is no fixed total supply.
- GFG is the project’s governance token and serves as an incentive for Liquidity Providers
Token Allocation
Token Release
Token use case
- Staking GFG: Users can stake GFG at any time and receive esGFG as a reward, this depends on their staking time. Longer betting periods result in higher multipliers. When a user unstakes GFG, their multiplier will be reset to zero and recalculated. Quantity only GFG staking is eligible for revenue sharing.
- Lock GFG to get veGFG: veGFG is used for project administration. Lock-in period can be up to 4 years, longer lock-in period will result in more veGFG. veGFG holders can determine the GAT token mining hardcap, decide on the deployment chain, product development direction, and receive reduced transaction fees when trading GAT. veGFG will share in revenue from the DAO’s ownership and fund allocation decisions
Exchanges
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Gas Finance Project Information Channel
- Website: https://gasfinance.xyz/
- Twitter: https://twitter.com/GasFinance
- Discord: https://discord.com/invite/kXME7DtTMr
- Telegram:
Summary
Gas Finance is an innovative project, with a new approach to solving the problem of gas costs in the market. Currently, the project has decided to build on Layer 2, Arbitrum and ZKSync. If you are interested in the project, please follow me to update the latest information.