ETHGas completes $12 million funding to launch Ethereum block space futures market

【Blockchain Rhythm】Ethereum Block Space Futures Market ETHGas has just announced a significant funding round. The token round financing completed in mid-December reached $12 million, led by well-known investment firm Polychain Capital, with participation from Stake Capital, BlueYard Capital, Lafayette Macro Advisors, SIG DT, Amber Group, and other institutions. This financing process started in July and took several months to complete, utilizing a SAFT structure.

Notably, ETHGas previously completed a pre-seed funding round of about $5 million in mid-2024, indicating continuous capital recognition for the project.

In addition to the funding, the project team revealed an even more astonishing figure — Ethereum validators, block builders, and relayers have pledged to provide approximately $800 million in support. However, this is not cash; it is liquidity provision in the form of Ethereum block space. Participants offer block space to the ETHGas market in exchange for higher and more stable returns.

The product logic of ETHGas is quite straightforward — to create a futures trading market for Ethereum block space. In traditional methods, block space can only be bid on instantaneously at the moment of block creation. ETHGas allows participants to buy and sell block space in advance, which is meaningful for users who need to ensure their transactions are included and for participants with cost expectations. The system is an upstream extension of Ethereum’s existing proposer-builder separation process, without changing the current operation mode, but further optimizing it.