Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Press Release
We're thrilled to share that Hedgehog Protocol has successfully closed its pre-seed funding round. Our commitment to simplifying and optimizing blockspace and gas markets has earned the support of key figures and institutions. This gives us a boost to further develop on-chain native derivatives and Modular Synthetic Blockspace.
Backing from Industry Leaders
Our protocol has attracted the attention and backing of notable angel investors such as
- Vasiliy Shapovalov of Lido
- Mike Lobanov of Target Global
- Banteg of Yearn Finance
- Brian D. Evans of BDE Ventures
- Ivangbi of Gearbox
- Danish Chaudhry of Paper Ventures
- Gareth of Owl Ventures
- Joel of Staked.vc
- Igor Barinov of Blockscout
- Amplice of Gearbox
 Together with other strategic angel investors, their combined expertise and insight into our project underscore the broad industry confidence in our vision and technology.Â
In addition to individual backers, institutions and venture capital firms such as Marshland Capital, Tenzor Capital, Prometeus Ventures, 3Commas Capital, ZBS Capital and Nothing Research have also aligned with our vision. The backing from these firms lays a solid foundation for our strategic and financial roadmap.
Our Vision
The gas market and the concept of blockspace are at the core of blockchain's functionality and efficiency. High demand for blockspace leads to increased gas prices, affecting user experience and transaction costs. This dynamic has highlighted the need for a more predictable and manageable approach to gas pricing not only for individual users but more so for businesses whose revenue is affected by gas costs: wallets, exchanges, and other on-chain actors.
Hedgehog Protocol specifically targets financial use cases such as rollups, account abstraction wallets on different chains, exchanges, and so on. This focus allows the protocol to provide targeted solutions that address the significant gas costs associated with these applications, thereby enhancing efficiency and reducing operational costs.
Modular Synthetic BlockspaceÂ
We are building Hedgehog Protocol as an infrastructure layer thatcan help different providers address all their gas questions. That could be on Ethereum, Bitcoin, or elsewhere. There is anear-infinite demand for blockspace across different blockchain ecosystems — we abstract into synthetic blockspace by turning a challenge into an opportunity — a free underlying market for many possible on-native derivatives, starting with blockscpace for Ethereum.
Drawing inspiration from the Liquity design, hedgehog Protocol’s design emphasizes modularity and user-friendliness, making it adaptable to real-time market conditions. This flexibility opens up gas management to a broader range of users, ensuring that both casual Ethereum network participants and large-scale dApp developers can find value in the solution.
The ability to buy or sell synthetic gas assets based on current market conditions without locking into a fixed price or predicting future market movements represents a significant advancement in gas market management. The unlimited potential for customization allows us to create various financial products tailored to the specific needs of the market.
This modularity means the protocol can adapt and grow, potentially applying its model to other blockchain ecosystems beyond Ethereum. Those could be Bitcoin transaction fees and Data Availability costs, Arbitrum and Optimism rollups, paymasters, and wallets with account abstraction - showcasing our expansive vision.
Differentiators of Hedgehog Protocol
- Synthetic Blockspace: By abstracting the complexities of the gas market, we offer a streamlined, user-friendly, and versatile solution.. This approach allows users to manage gas costs more predictably, without the need to lock into fixed prices or predict future market movements.
- Modular Design: Inspired by the Liquity CDP design, Hedgehog Protocol leverages a modular approach that can be customized to suit various financial products and services. This flexibility ensures that our solution can evolve alongside the blockchain ecosystem, potentially extending beyond Ethereum to other networks.
Join Us on Our Journey
As we move forward, we invite developers, partners, and enthusiasts to join us in shaping the future of blockchain gas management. Our team is actively seeking talented individuals to contribute to our mission. Together, we can build a more secure and efficient blockchain ecosystem.
Twitter: https://twitter.com/TheHedgehog_io
Telegram Chat: https://t.me/thehedgehog_io
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.