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GasToken was originally created in September 2017, when we were investigating two questions: what is the impact of front-running on decentralized exchanges vulnerable to it, and how should blockchain resources be priced ideally? The majority of the pre-release supply of GasToken was created by The Initiative for Cryptocurrencies and Contracts , the parent organization of GasToken. IC3 holds a supply of GasToken for research and on-network use, and is actively using GasToken in research projects. The above authors of GasToken did not hold any personal GasToken at release-time. GasToken is part of a wider initiative headquartered at IC3, Project Chicago for the Study of Cryptocommodities. We believe that economically speaking, all blockchains can be viewed as a two-sided market for a set of virtual resources (block space, UTXO space) backed by digital resources (computation, network bandwidth and latency, storage) with physical costs (in power, space, and capital). Project Chicago consequently aims to understand questions of how to price such resources, the consequences of mispricing, and the new generation of financial instruments that can be created around these resources for price discovery. This includes the study of oracle-based and in-protocol futures for Bitcoin block and UTXO space, and for Ethereum state and block space, as well as rigorous study of potential instruments covering network resources. It also includes the exploration of interesting technologies like GasToken, which are only possible due to quirks in distributed-trust based crypto-economic mechanisms on blockchains like Ethereum. Project Chicago is an academic project, and aims at releasing publications, blog posts, and code fostering a better understanding of decentralized resource pricing. To get more news on GasToken and Project Chicago, follow us on the following platforms: Follow @projectchicago Follow @projectchicago_

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