Scheduling transactions is becoming more and more popular on Ethereum. However, one if the biggest hurdlers for users to do so is to estimate the future execution costs of relayers. This is due to gas prices on ethereum being highly volatile.
With VollgasDAO Gas Futures, users can prepay a fixed fee to receive an amount of gas at a locked price which will equal to the future real average gas price at time of redemption (this redeem price is determined by ChainLink oracles fetching data from EthGasStation API). This enables users to be certain that their transactions with a fixed gasLimit will also be relayed in the future, where they will be able to get that gasLimit worth of ETH in exchange for their gasFutureTokens. This effectively acts as hedge against gas price volatility
What it does
Investors can purchase VollgasDAOs dividend tokens. Part of these purchases initially fund a liquidity pool, from which users can mint gas futures ERC721 tokens. For each gas future minted by a user, 5% of that user prepayment will be distributed to all VollgasDAOs token holders proportionally, with minimized gas consumption.
When users want to redeem their future contracts, the VollgasDAO fetches the current gas price via the Chainlink Oracle system to calculate exactly how much the user will receive to pay for an execution at that time. The user will then receive the amount of gas specified in the futures contract * the current gasPrice fetched via the oracle.
How we built it
Using dOrgs / Bancors bonding curves, Chainlinks oracle and a lot of OppenZeppelin Stuff
Challenges we ran into
Oracle problems, complexities in bonding curves, TRUFFLE!
Accomplishments that I'm proud of
Creating an investment vehicle while at the same time providing real value to day to day users of ethereum.
What I learned
Setting up a game.theoritical sound dao is difficult!
What's next for Vollgas Futures
Setting up a proper DAO structure to manage the variables such as customer prepayment