[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 92 KB, 610x261, 23423423.jpg [View same] [iqdb] [saucenao] [google]
22059946 No.22059946 [Reply] [Original]

A project by researchers from IC3, that are now apart of Chainlink Labs Research team. The project has been given advice, review, and support from Ari Juels.

From the website:
GasToken is a new, cutting-edge Ethereum contract that allows users to tokenize gas on the Ethereum network, storing gas when it is cheap and using / deploying this gas when it is expensive. Using GasToken can subsidize high gas prices on transactions to do everything from arbitraging decentralized exchanges to buying into ICOs early. GasToken is also the first contract on the Ethereum network that allows users to buy and sell gas directly, enabling long-term "banking" of gas that can help shield users from rising gas prices.

https://www.coingecko.com/en/coins/gastoken
I'll let you checkout the marketcap and supply ;)

https://twitter.com/SergeyNazarov/status/972000465905901570

>> No.22060008
File: 626 KB, 960x2999, 2342345645.jpg [View same] [iqdb] [saucenao] [google]
22060008

>>22059946
Updated graphic from Ari Juels SmartCon talk

>> No.22060065

>>22059946
How do I always miss stuff like this? 2.4m mcap 18k supply, holy shit

>> No.22060163

>>22060065

I actually wouldn't expect it to moon though. Its a utility. I didn't read about the tokenomics enough to understand how the value increases but its purpose is to purchase gwei while its cheap? Something like that. Need to do more research either way ETH is truly going to be a settlement layer at this rate. Arbitrum, LINK, and now this which has been around since 2017 but new life being breathed into it.

>> No.22060212

>>22060008

Well after reading this maybe I stand corrected WTF

>> No.22060246

>>22060163
>I wouldn't expect this to Moon though.
This. There's no reason to buy it.

>> No.22060299

>>22060008

Hmm no volume though less than 100K daily and that was recent. If it becomes mainstream though who knows. Might be worth buying a bag seems high risk as fuck though but the right names are looking into it

>> No.22060319

>>22060299
Stop going in circles. You don't need any.

>> No.22060331

>>22060246
I think we've all seen the most trash projects moon before. This is actually by Chainlink researchers, that aim to solve for the high has prices we are seeing today. Couldn't think of a better time

>> No.22060414

>>22060319
Don't have time to buy a bag while you are wage cucking? Gotta fud until you get home?

>> No.22060415

>>22060331
The last thing any of us wants to see is someone buying a token they don't use or understand just because it's got the right names associated with it.

>> No.22060434

>>22060319

I'm not going in circles I don't know enough to make an educated assessment I just found out about it. The fact that its a utility to buy cheap gwei leads me to believe it doesn't need to be all that expensive but at the same time as ETH raises in value and gas costs continue to rise as the economy does so will it. Its worth looking more into. Are you trying to hide this or something? Lol

>> No.22060512

>>22059946
How would someone drop $500k on this without quadrupling the price?

Asking for me

>> No.22060553

are you guys memeing??? gastoken already existed since 2017
chainlink top research team: taking something done by other people years ago and slapping a token on it

>> No.22060570

only way i see this gainging traction is if there is a a direct integration with uniswap/ other DEX's

making people input code into a contract is going to be barrier for 99% of traders

>> No.22060674

>>22060553
>A project by researchers from IC3, that are now apart of Chainlink Labs Research team.
ah ok, this is just "we at chainlink are just scammers with lots of money from our shill campaign, so we can now buy out people who actually dev stuff"
marginally better

>> No.22060727

>>22059946
Nice anon I accumulated 50 of these lil nigs on friday when I saw uniswap liquidity surge and the yield farming craze starting back up again. Gonna be sitting pretty comfy soon. There's also a rumour that a major defi aggregate is partnering with paypal to provide a fiat on-ramp and they will be using gastoken to help with the fees. Also
> It is possible that widespread use of GasToken will waste substantial block space, driving up gas prices and in-turn driving up GasToken usage, in what has the potential to become a positive-feedback loop.

>> No.22060770

>>22059946
Or you can just pay ETH for gas, not a lot of value here

>> No.22060779

>>22059946
I hear that these are one reason they brought back gas fees in the Argent wallet. Argent originally paid all of the gas fees for users of their wallet. However, some users worked out that they could use the free gas to mint GasToken and then sell it...

>> No.22060848

>>22060779
You never heard that.

>> No.22060978

Here is an oldfag thread:
>>/biz/?task=search2&ghost=yes&search_text=%22project+chicago%22&search_ord=old&

>> No.22061306
File: 37 KB, 1867x191, pwnd.jpg [View same] [iqdb] [saucenao] [google]
22061306

>>22060978

>> No.22061323

>>22059946
Uh guys? Am I missing something here or can this be used to shield gas prices right now before the bull run happens?

>> No.22061361

Where do you even buy this?

>> No.22061365

>>22059946
18k tokens. $3mm market cap. Chainlink Labs.

>> No.22061443

>>22061323
You're not missing anything anon. A speculative frenzy will start with the trading of gastokens, taking up block space, increasing gas fees, taking up block space, increasing gas fees, until Ethereum is on its knees gastoken is $50000 and Vitalik begs to disable the storage refund exploit

>> No.22061543

how does this compare to chi
https://medium.com/@1inch.exchange/1inch-introduces-chi-gastoken-d0bd5bb0f92b

>> No.22061551

>>22059946
>A project by researchers from IC3, that are now apart of Chainlink Labs Research team
>I'll let you checkout the marketcap and supply ;)
this is hilarious, but given how dumb /biz/ is, you may succeed completely

>> No.22061773

>>22059946
Should have called it GasToken ($BRAP)

>> No.22061814

>>22059946
There was no update on github for the last 2 years

>> No.22062121

>>22059946
Wut gas token? What is this shit? I'm here because i bought 2000 dollar shell stock today. I hope you coinfags did so too.

>> No.22062319

>>22062121
GTS = YFI*2

>> No.22062403

>>22062319
You're serious?? Now i'll buy

>> No.22062431

>>22060727
That sounds terrible. Can you Chainlink retards just cash out already and kill yourselves?

This thing doesn't make any sense. "Buy gas when it's low". And then what? Sell it when it's high? Why would anyone use this? And like >>22060570 said there isn't even a seamless way to do it.

Please remove Ari's circumcised cock from your mouths and promptly kill yourselves.

>> No.22062579

>>22062403
Check chainlink connections & do the math on supply

>> No.22063161

>>22062579
Is this real? Jesus

>> No.22063231

Are you afraid of how secured @Bitcoincomgames Peer-to-peer Electronic Cash system is? Nothing to be afraid of because The system is secured with honest nodes that collectively control more CPU power than any cooperating group of attacker nodes. Making the system so secured

>> No.22063278
File: 52 KB, 960x426, 12A09F95-2F7A-47D2-A38B-C816669A233E.jpg [View same] [iqdb] [saucenao] [google]
22063278

>>22063161

>> No.22063407

if ethereum becomes even more congested because retards pump gas token I'm going to sell every defi token
that would be clear peak retardation

>> No.22063628

Between people locking ETH in DeFi, wrapping of Bitcoin etc, yield farming, and then speculation on GST2, this pretty clearly is going upwards lol.

Wish I had known about it sooner but still. I wouldn’t plan to hold it for longer than a few months ( unless ETH 2 completely shits the bed ) however.

I bought a few just to see what happens. I’ve probably burnt more in gas than I spent on them honestly.

>> No.22063653

>>22063407
Yeah gastoken will increase the price of off-peak gas but it will lower the cost of on peak

>> No.22063852

How would you even use this shittoken as gas? It does nothing right now doesn't it? What a fucking scam

>> No.22063926

>>22059946
Thanks OP, I bought a few. I usually don't "trade" at all, especially all the shitcoins on this board. But it is good knowing that the ic3/chainlink labs people are behind this. Kinda comfy. Looking for $1k and possibly $2k

>> No.22064048

Icy three is hoarding the majority of these tokens and supposedly Ari took back the tokens Phillip was hoarding. What projects do you imagine will implement these token? What is their long term plans for them?

>> No.22064191

>>22063926

Imagine the amount of ETH locked in DeFi doubles next month and people start getting real desperate in ways to cut gas costs.

It wouldn’t take much for a wallet to implement the functionality or say someone to put out a “Gastoken” wallet.

I’d be thrilled with $1/2K but in a full on bullrun this could go higher with a few things falling the right way.

It could also get patched out and/or ETH 2 is on time and a success and it becomes worthless.

>> No.22064806

>>22064191
I'd imagine one of the bigger Defi projects are looking at this right now?

>> No.22065156

>>22064806
I guess hidden project would be arbitrum

>> No.22065307

>>22065156
Everything ic3 creates has a purpose and solves a particular problem with specific projects in mind. They don't just create things and hope someone finds it useful one day.

>> No.22065356

>>22061543
isn't chi better than GST2?

>> No.22065551

>>22059946
nigga just buy eth while its cheap like are you retarded or what gas is eth you jew

>> No.22065742

>>22065307
I mean Arbitrum has an eye on this project. High tps with LOW cost

>> No.22066228

Supply is not fixed and more tokens can be minted.

>> No.22066426

>>22066228
well yeah anyone can mint gastoken but it costs a fuckton of gas, that's why you do it when gas is cheap. It costs almost $200 to mint 1 gastoken right now and they are selling for $140. You do the math

>> No.22067038

>>22066426
But as soon as gas prices drop, gastoken will be lower in price. Its just pegged to the price of gas. It cant go up and up.

>> No.22067458

Can someone explain to me how this token isn't known and only 2.4m market cap?

>> No.22067923

>>22062431
Like buying futures maybe? Haven't looked into it so you might be right about it not being seamless

>> No.22068243

>>22067458
Chainlinkgod talked about it the other day in Discord. Said it's not a big deal and you don't need it because ETH is the superior form of gas. Why buy off brand gas? It never works well and is for poor people. Stay away.

>> No.22068851

>>22068243
I just sold it as soon as I read the warning on website. You can mint this

>> No.22068859

>>22068243
You really gonna listen to chainlinkgod? LMAO

>> No.22069018

>>22068851
FUD