ETH2.0’s arrival brings a compensation to Ethereum
users, for the gas fees they have spent.
Introducing $gETH, a token
distributed in direct proportion to your gas fee
expenditure. a project by Ethereum
Foundation.
No account connected,
using 0xF0f35…07708 as
an example.
You've
spent Ξ25.524 on
gas. Right now, that's $64,703.
You used 17,409,849 gas to
send 539 transactions, with an average price
of 26.48309M Gwei.
You can claim $12,294 worth of $gETH
In order
to get your gETH tokens you first have to calculate your gas
fees.
What is gETH?
gETH, or gasETH, is an Ethereum core
team token designed to reward
individuals who have incurred
significant gas fees on the Ethereum
Mainnet. As Ethereum shifts into a new
phase, reducing gas fees, we aim to
recognize and reward those who have
extensively utilized the network.
Once the ETH2.0 Sharding update is
implemented, gasETH will serve as a gas
token and is currently being actively
developed by the Ethereum team.
Why the gETH token?
Gas fees have been a persistent issue
for the Ethereum network since its
inception, leading to slow and costly
transactions. The Ethereum Foundation
has devised a solution—a token that
rewards participants in ETH 1.0.
Presently, Ethereum processes 1 million
transactions daily and generates
substantial ETH for its stakers (prior
to miners). However, as ETH2.0 launches,
gas fees will significantly decrease,
with gETH serving as the primary
currency for paying these fees.
Architecture
of gETH
All gETH tokens will be
redistributed to those who have spent on
gas fees, ensuring proportional rewards
based on their expenditure. This
straightforward token is released by the
Ethereum Foundation, established and
funded by Ethereum from its
beginning.