Alkimiya Unveils First DeFi Market for Trading Base Rollup Revenue

Alkimiya,
a
pioneering
blockspace
markets
protocol,
today
launched
the
first
market
that
allows
users
to
directly
trade
revenue
generated
by
the
Base
rollup.
Using
Alkimiya’s
innovative
platform,
participants
can
trade
a
percentage
of
the
cumulative
gas
paid
to
the
sequencer,
which
can
fluctuate
dramatically—from
as
low
as 10
ETH
to
as
high
as
200
ETH in
a
single
day.

The
rise
and
fall
of
total
gas
spent
serves
as
a
direct
measure
of
the
blockspace’s
utilization.
In
general,
the
more
users
interact
on
Base,
the
higher
the
cumulative
total
gas
spent.
This
new
primitive
is
also
designed
to
capture
the
value
of
most
on-chain
activities
that
contribute
to
increased
gas
fees. 

“Trading
total
gas
spent
represents
a
unique
way
of
betting
on
the
fundamental
growth
of
an
ecosystem,
without
interacting
with
the
platform’s
governance
tokens,
and
in
this
case,
Base
doesn’t
have
a
token,” said
Leo
Zhang,
founder
of
Alkimiya. 

The
economic
relationship
between
the
ETH
mainnet
and
its
rollups
has
long
been
debated.
Broadly,
the
dispute
arises
from
differing
opinions
on
who
ultimately
benefits
when
transaction
volume
moves
from
the
mainnet
onto
L2
networks.
Top
L2s
are
consistently
raking
in millions
a
month in
revenue
while
paying <15%
of
to
L1
validators since
EIP-4844. 

Launched
in
August
2023,
Base
quickly
became
one
of
the
fastest-growing
communities.
Beyond
attracting
a
vibrant,
engaged
user
base,
it
has
also
positioned
itself
as
a
leader
by
generating
the
highest
revenue
among
its
peers—over $14
million
in
the
last
month. 

With
Alkimiya’s
Base
L2
market,
active
community
members
can
offset
transaction
costs
by
buying
a
percentage
of
the
total
gas
spent
on
Base.
Investors
who
are
bullish
on
the
Base
ecosystem
can
participate
in
its
upside.
It
is
unlikely
that
Base
will
issue
a
governance
token
according
to Jesse
Pollack,
creator
of
Base
and
head
of
protocols
at
Coinbase
The
fundamental
analysis
common
in
traditional
finance
is
applicable
to
this
market
as
well.
By
analyzing leading
indicators such
as
bridging
volume,
active
users,
and
transaction
types,
traders
can
predict
revenue
growth. 

The
Base
gas
markets
serve
as
continuous
predictions
of
how
on-chain
activities
will
change
over
time.
Traders
who
foresee
heightened
network
activity
due
to
on-chain
events,
such
as
NFTs,
airdrops,
or
AI
agents,
can
also
profit
from
it
without
engaging
with
the
underlying
assets. 

In
November,
Base
experienced
a
spike
in
reverted
transactions
caused
by
bots
attempting
to
snipe
new
memecoin
launches. Over
53%
of
the
transactions
were
reverted,
causing
gas
price
on
the
network
to elevate.
Previously,
users
lacked
protection
against
these
volatile
fee
swings,
simply
paying
the
higher
costs
as
they
occurred.
Now,
Alkimiya
enables
users
to
hedge
against
these
fluctuations.

Developed
by
Anicca
Research,
a
leading
institution
in
blockspace
dynamics,
Alkimiya
protocol
is
the
result
of
comprehensive
studies
and
influential
publications
by
leading
researchers. 

The
Alkimiya
Base
L2
Gas
Market
is
currently
live
on
Base.
In
August,
it
introduced
its
BTC
Feerate
Market,
enabling
users
to
trade
the
average
Bitcoin
network
transaction
feerate.
Traders
leveraged
this
market
to
benefit
from
on-chain
events,
such
as
Babylon
Cap-1
launch,
Magic
Eden
airdrop,
and
popular
Rune
mints.

About
Alkimiya

Alkimiya
is
a
blockspace
markets
protocol
that
facilitates
the
creation,
trading,
and
settlement
of
synthetic
blockspace
resources,
such
as
BTC
network
transaction
fees.
Founded
in
2021,
Alkimiya
stands
at
the
forefront
of
blockspace
dynamics
and
is
backed
by
Dragonfly,
Castle
Island
Ventures,
1KX,
GMR,
Coinbase
Ventures,
Circle
Ventures,
Tribe
Capital
and
Robot
Ventures
among
others.
For
more
information,
visit https://alkimiya.io/.