Gasp will airdrop 3% GASP to MGX testnet token holders, and another 4% will be used for early community incentives
Odaily2024/07/12 01:42
By:Odaily
Odaily News According to official news, Gasp, a cross-chain exchange protocol based on EigenLayer, is launching a cross-chain communication platform that can provide large amounts of funds and high-speed transactions for enterprises and retail investors. As a native cross-rollup protocol, Gasp aims to facilitate Gas-free,
MEV-protected and fast cross-rollup swaps. The protocol achieves this by leveraging technologies such as escape hatches, ZK proofs and decentralized sorters. The special thing about the Gasp approach is that it ensures trustless transactions through a decentralized mechanism, which enhances security and reduces risks compared to protocols with centralized single points of failure and other traditional bridging mechanisms. Gasp also eliminates the need for encapsulated tokens. The team has designed a platform whose features include: cross-chain liquidity pools and vaults, EigenLayer security, Gas-free transactions, ferry mechanisms for instant fund transfers, and MEV protection to prevent front-running and sandwich attacks. In addition, the official recently announced that it would airdrop 3% of GASP to holders of the MGX testnet era. It is currently exploring how to transfer LP providers from Mangata to GASP and retain another 4% of GASP supply for early community building incentives. Earlier in April, Gasp (formerly Mangata Finance) announced the completion of a $5 million private placement financing, with participation from Polychain Capital, CMS Holdings, Master Ventures, Token Metrics and Cluster Capital. Sources said that this round of financing brought Gasps FDV to $80 million.
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