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Coinbase’s Layer 2 System Base Gets a Marketplace Linked to Gas Revenue

Author: Content Editor
The success of Base, an Ethereum overlay blockchain created by Coinbase for faster and cheaper transactions, has led to the launch of a market that allows users to bet on the fluctuating cost of gas needed to power the network. Alkimiya, a startup backed by Coinbase Ventures and other firms, enables users to speculate on the cost of transactions being included in blocks on Base. This market is likened to traditional energy markets, where traders speculate and hedge on energy prices. Base has generated over $14 million in the last month, and the cumulative gas paid to the network can vary significantly. Alkimiya's smart contracts allow users to bet on how the cost of Base blockspace might change due to factors like AI agents or on-chain events. The platform uses a decentralized finance architecture and transparent processes.

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