Gasp: 3% of GASP will be airdropped to MGX testnet token holders, and an additional 4% will be used for early community incentives

ChainCatcher news, according to official sources, the cross-chain exchange protocol Gasp based on EigenLayer is launching a cross-chain communication platform that provides substantial funding and high-speed trading for both enterprises and retail investors.

As a native cross-rollup protocol, Gasp aims to facilitate gasless, MEV-protected, and rapid cross-rollup swaps. The protocol achieves this by utilizing technologies such as escape hatches, ZK proofs, and decentralized sequencers.

What sets the Gasp approach apart is its decentralized mechanism that ensures trustless transactions, enhancing security and reducing risks compared to centralized single points of failure and other traditional bridging mechanisms. Gasp also eliminates the need for wrapped tokens.

The team has designed a platform with features including: cross-chain liquidity pools and vaults, EigenLayer security, gasless transactions, an instant fund transfer ferry mechanism, and MEV protection to prevent front-running and sandwich attacks.

Additionally, the official announcement recently stated that 3% of GASP will be airdropped to MGX testnet era holders, and they are currently exploring how to transition LP providers from Mangata to GASP, reserving an additional 4% of GASP supply for early community building incentives.