The Venture Codex

Participated · Seed · Mar 2024

Hedgehog is a protocol focused on hedging volatility in crypto transaction fees. Its core product is an asset whose price is intended to reflect current transaction-fee (gas) levels on Ethereum. The team’s stated goal is to provide market participants a way to hedge large swings in on-chain transaction costs. Hedgehog completed a $1.5 million pre-seed financing to advance development. Named investors and angel backers from the round signal early institutional and protocol-native support for the idea. The company’s immediate financial position is supported by the announced pre-seed capital, which should fund further product development and adoption efforts.