ETHGas has moved into the distribution stage of its airdrop plan. The project said Binance Alpha will list $GWEI on January 21 at 13:00 UTC, with the airdrop claim opening at the same time. Before that, an eligibility checker will go live on January 20 at 13:00 UTC. Eligible users will be able to claim rewards through the Binance Alpha Events page using Alpha Points once trading starts.
Snapshot finished on January 19 with eligibility tied to mainnet fee history
According to ETHGas Foundation, the snapshot was completed on January 19 at 00:00 UTC. Eligibility is based on historical fees spent on Ethereum Mainnet and verified participation in the project’s community campaigns. The team framed the airdrop as a reward for actual ETH users rather than wallets that only showed basic on-chain activity.
The project said users were required to prove their “proof of pain” through a fee ID and take part in social actions, including sharing a Gas ID on X or joining Open fee Initiative campaigns. That makes the screening process a mix of on-chain usage records and documented community engagement.
GWEI is positioned as a governance token with a 10 billion supply
ETHGas described $GWEI as the governance token for its ecosystem, designed to influence how Ethereum blockspace is priced and used in real time. The token will be deployed as an ERC-20 asset on Ethereum Mainnet, with a fixed total supply of 10 billion and a 10-year distribution structure.
The published allocation is: ecosystem 31%, investors 27%, team 22%, community 10%, foundation 8%, and advisors 2%. The source article also cited a crypto market forecast suggesting a possible launch-day price range of $0.002 to $0.005, but that figure was presented as an outside prediction rather than official project pricing.
Project says it raised $12 million and secured $800 million in commitments
On funding, ETHGas said it recently closed a $12 million seed round led by Polychain. The project also stated that it has received $800 million in commitments from major Ethereum builders. Based on the published description, the capital is intended for building an Ethereum blockspace futures market and strengthening marketplace infrastructure tied to the asset.
The current disclosures place the airdrop, governance token rollout, and mainnet infrastructure narrative on the same track. What is confirmed now is the snapshot date, the eligibility check window, and the Binance Alpha listing schedule. Claim mechanics and live trading flow will depend on the interface Binance Alpha opens on the event page.