Gas is the fundamental economic means of incentivizing miners & verifiers to sustain the single version of truth on blockchain. There are lots of time when the gas price is high. This fluctuation & market dynamics inspired us to address the issue by adding a new liquidity dimension to ETH gas units.
What it does
Its basically a platform to buy/sell the ethereum gas token. We present an opportunity for market making by selling gas as token via a 0x relayer in an auction based model. Users can not only save a lot in transaction fee by using GST, but also free up the leftover for premium based on the market conditioned over time and demand.
How we built it
We have used 0x Protocol for building the relayer to address the matching & fill of orders. And used gastoken (GST) as erc20 token. There's a web front / dashboard to buy/sell.
Challenges we ran into
Frontend part was bit difficult because of limited resources.
Accomplishments that we're proud of
Fully Functional relayer to trade for gas token. Basics UI/UX for trading platform.
What we learned
GasToken concept. Explored 0x lot more and figured out there's lot can be done on this platform.
What's next for Gas0x
Make it a tradeable platform.