Hasu's comments on Vitalik's on-chain Gas futures market: Weak buying interest may lead to insufficient liquidity and difficulty in achieving scale.
Lido strategic advisor and Flashbots strategic director Hasu commented on Vitalik's idea of establishing an on-chain Gas futures market on the X platform. He stated that the market lacks natural shorts: many users are inherently exposed to Gas costs (shorts) and wish to hedge, but almost no one in the market is willing to take long positions on Gas, so liquidity may be insufficient, making it difficult to form a meaningful market size.
In response, Vitalik proposed that the protocol itself act as the market short, by auctioning the future usage rights of the base fee on-chain (which can be advanced up to 2 years). Although Hasu questioned the incentive effectiveness of this model, Vitalik explained that after users or application developers pre-purchase Gas, they would shift from being "natural Gas shorts" to "neutral"; meanwhile, the protocol is naturally "long" due to the base fee being burned, and through pre-sale, risk hedging can be achieved in this part.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Nebius Q3 results exceed expectations, capital expenditure rises to $27 billion, ARR target postponed, stock falls over 14% pre-market | Earnings Report Insights
Nebius reported Q3 revenue of $981 million (a year-on-year increase of 571%) and adjusted EBITDA of $466 million, both exceeding expectations. However, the company delayed and lowered its guidance for annual recurring revenue (ARR), stating that it is no longer applicable. Additionally, it significantly raised its 2026 capital expenditure target to $27 billion, with projections to further increase to $40 billion to $45 billion in 2027. The stock price plummeted more than 14% in pre-market trading.
