The ETHGas protocol is set to launch the GWEI governance token, aiming to transform Ethereum block space into a programmable and tradable asset.
Introducing $GWEI: the governance token for ETHGas.
Built to govern Realtime Ethereum. pic.twitter.com/tMJ91RVAkG
— ETHGas Foundation (@ETHGasFNDN) January 13, 2026
The total supply will be 10 billion coins, with 10% allocated to the community. The remaining assets will be distributed as follows:
- 31% to the ecosystem;
- 27% to investors;
- 22% to the team;
- 8% to the foundation;
- 2% to advisors.
According to developers, Ethereum remains the leading settlement layer in the crypto industry, but the current block space allocation mechanism fails to meet application demands, resulting in transaction delays and volatile fees.
To address this issue, the ETHGas team proposed altering block space access. Protocols will be able to pre-reserve guaranteed throughput on a secondary market, creating a “scalable, fee-free user experience.”
GWEI token holders will govern the ecosystem, voting on key issues such as network parameter settings, update approvals, and treasury allocations.
The coin launch follows a $12 million funding round. Previously, ETHGas introduced the first Ethereum block space futures market with guaranteed liquidity of $800 million.
ETHGas primarily targets institutional players: exchanges, funds, and major DeFi protocols, who require guaranteed throughput and protection from price shocks during network congestion.
On January 19, ETHGas developers will take a snapshot for an airdrop. The exact launch date for GWEI has not been disclosed.
Back in early December, Ethereum co-founder Vitalik Buterin suggested creating a gas futures market on the blockchain of the second-largest cryptocurrency by market cap. He believes such a tool would hedge against potential fee increases.