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Hasu comments on Vitalik's idea of an on-chain Gas futures market: weak willingness to go long may lead to insufficient liquidity and difficulty in achieving scale.

Hasu comments on Vitalik's idea of an on-chain Gas futures market: weak willingness to go long may lead to insufficient liquidity and difficulty in achieving scale.

金色财经金色财经2025/12/07 05:29
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Jinse Finance reported that Hasu, Lido's strategic advisor and Flashbots' strategy director, commented on X regarding Vitalik's proposal to establish an on-chain Gas futures market. He stated that this market lacks natural short positions: a large number of users are inherently exposed to Gas costs (short) and wish to hedge, but there are hardly any participants willing to take long positions on Gas in the market. Therefore, liquidity may be insufficient, making it difficult to form a meaningful market size. In response, Vitalik suggested that the protocol itself could act as the market's short side, that is, by auctioning off the rights to use future base fees on-chain (up to 2 years in advance). Although Hasu questioned the effectiveness of the incentives in this model, Vitalik explained that after users or application developers pre-purchase Gas, they move from being "natural Gas shorts" to "neutral"; at the same time, the protocol is naturally "long" due to the burning of base fees, and through pre-sales, this part of the risk can be neutralized.

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