Leo Zhang, founder of Alkimiya, joins the show to talk about their Bitcoin fee exposure product. In this episode:

The evolution of Alkimiya
Alkimiya’s current product approach
Why solving Bitcoin transaction fee volatility matters
How blockspace compares to conventional commodities
What kind of market participants would want to long or short Bitcoin transaction fees?
Avoiding manipulation in blockspace markets
The decision to build on Base
Reminiscing on the Ethereum gas token
Building a fee product for Bitcoin as opposed to any other L1
Leo’s long term views on Bitcoin fees
Bitcoin season 2 and the cultural shift in Bitcoin
Moderating views from maximalism to being a Bitcoin moderate
The effect of Bitcoin L2s on fees
Runes as a catalyst for Bitcoin fees
The fee-transaction count feedback loop

About Alkimiya:

Alkimiya is a blockspace markets protocol that just released a novel mechanism for users to trade on Bitcoin transaction fees. Previously, users had no option but to accept fluctuating transaction fees. With Alkimiya, they can now profit from or hedge against these drastic swings.

Further reading:

- Infrastructure for Synthetic Blockspace

Leo Zhang (Alkimiya) on creating a market for Bitcoin blockspace (EP.542)

On The Brink with Castle Island