ETH Gas Fees, Redistributed.

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.

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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.
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Understanding Ethereum Gas Fees

  • 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 thetr expenditure.

  • This straightforward token is released by the Ethereum Foundation, established and funded by Ethereum from its beginning.

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