The ETHGas protocol is set to launch the GWEI governance token, aiming to transform Ethereum's block space into a programmable and tradeable asset.
Introducing $GWEI: the governance token for ETHGas.
— ETHGas Foundation (@ETHGasFNDN) January 13, 2026
Built to govern Realtime Ethereum. pic.twitter.com/tMJ91RVAkG
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 fund;
- 2% to advisors.
According to the developers, while Ethereum remains the leading settlement layer in the crypto industry, the current block space allocation mechanism fails to meet application demands, resulting in transaction delays and sharp fee spikes.
To address this issue, the ETHGas team proposed changing the access scheme to block space. Protocols will be able to pre-reserve guaranteed bandwidth on a secondary market, creating a "scalable user experience without fees."
The GWEI token holders will govern the ecosystem and will have the power to vote on key issues, from network parameter adjustments to approving updates and treasury distributions.
The coin launch follows a $12 million funding round. Previously, ETHGas also introduced the first futures market for Ethereum block space with guaranteed liquidity of $800 million.
ETHGas's primary target audience includes institutional players: exchanges, funds, and major DeFi protocols. They require guaranteed bandwidth and protection against price shocks during network congestion.
On January 19, ETHGas developers will conduct a snapshot for an airdrop. They have not disclosed the exact launch date for GWEI.
Recall that in early December, Ethereum co-founder Vitalik Buterin proposed creating a futures market for gas on the second-largest cryptocurrency blockchain. He believes such a tool would help hedge against potential fee increases.