Began working on a "Gas Station" contract that will utilize 1inch exchange's Chi Token in order to beat the rising gas prices.
My plan for it is to use it as a storage for chi token's, you will be able to mint and transfer the tokens as well. It should track the gas prices at time of minting and by using the price tracker mapping you will be able to trade with the minted tokens via exchanges that support the token. Retrieve tokens purchased at specified gas price, sell that amount at a higher price since the price during minting and the exchange prices differ.
(https://1inch.exchange/#/faq/everything-you-wanted-to-know-about-chi-gastoken)
I may also add in a "Gas Proxy" that will be able to interact with other contracts utilizing the gas tokens.
Open to any and all feedback, contribution, and collaboration!
Top comments (2)
Had this exact idea a long time ago, great to see some one implementing this sort of "futures" market for Gas. You may be interested in this work here: github.com/matnad/liquid-gas-token/
here is my outline: authorea.com/users/285079/articles...
Let me know if your looking for any sort of solidity engineering work, sam@freighttrust.com
Hey Sam,
This is amazing! Thank you, I'm already thinking of ways to utilize the LGT, wouldn't have thought to implement a sort of gas token "liquidity pool", can't wait to start digging through their project. I also started reading your paper and I would love to integrate your idea's as well. I planned on creating a "Shadow Gas Station" which would act as a sort of "Gas Exchange", I would love to use your outline as the basis.
Will definitely be in contact, thank you for the help I really appreciate it!