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Hasu's comments on Vitalik's on-chain Gas futures market: Weak buying interest may lead to insufficient liquidity and difficulty in achieving scale.

Hasu's comments on Vitalik's on-chain Gas futures market: Weak buying interest may lead to insufficient liquidity and difficulty in achieving scale.

CointimeCointime2025/12/07 07:24
By:Cointime

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.

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