UMIP 16 -Add GASETH-1HR GASETH-4HR GASETH-1D GASETH-1W GASETH-1M as a price identifiers

Mhairi · March 2, 2022, 12:48pm

The DVM should support requests for aggregatory gas prices on the Ethereum blockchain.

UMAprotocol/UMIPs/blob/master/UMIPs/umip-16.md

# Headers
| UMIP-16     |                                                                                                                                          |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| UMIP Title | Add GASETH-1HR GASETH-4HR GASETH-1D GASETH-1W GASETH-1M as a price identifiers                                                                                                 |
| Authors    | Ali Atiia (@aliatiia), Matt Rice (@mrice32), Sean Brown (@smb2796)
| Status     | Approved                                                                                                                                   |
| Created    | September 4, 2020                                                                                                                           |

## Summary (2-5 sentences)
The DVM should support requests for aggregatory gas prices on the Ethereum blockchain. 

## Motivation
The DVM currently does not support reporting aggregatory gas prices of finalized blocks on the Ethereum blockchain. 

Cost: Calculating an aggregatory statistic of gas prices on a confirmed block or range of blocks on the Ethereum blockchain is easy by virtue of the fact that all needed data is readily available on any Ethereum full node, whether run locally or accessed remotely through well-known providers such as Infura or Alchemy. Additionally, this data can be accessed through querying publicly accessible Ethereum blockchain data sets. 

Opportunity: Gas options/futures can help users and developers hedge against gas volatility allowing them to budget their gas consumption efficiently. Providing a price feed for settlement is a prerequisite.

## Technical Specification

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UMIP 48 -Add GASETH_JUN21 as a supported price identifier technical UMIPs	190	March 2, 2022
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UMIP 16 -Add GASETH-1HR GASETH-4HR GASETH-1D GASETH-1W GASETH-1M as a price identifiers

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