Gasp — A Purpose-Built Blockchain for Efficient Stablecoin Trading
If there’s one thing to come out of crypto that can be truly said to have found mass adoption, it is stablecoins. That’s right. It wasn’t the ICO or IDO craze, security tokens, fractionalized real-estate, or; shocking though it might seem, it wasn’t even NFTs of cartoon characters with six-figure valuations.
No. It was fiat currency all along, but… different. More decentralized, and fully onchain.
This shouldn’t exactly be surprising. When Bitcoin was created in 2008, it was designed principally as a means of exchange, and humans have been looking for new and increasingly efficient means of exchange for millennia. True stablecoins came shortly after, in 2014, and they have been increasing in adoption ever since.
But what is surprising, is the speed at which stablecoins have proliferated, been adopted, and now — just like cash itself — are undergoing a renaissance and gold rush period. According to a recent Bankless Daily Brief, fiat-backed stablecoins grew 53% in 2024 alone, topping $200bn in circulating supply. But what’s driving this growth?
In this article, we’re going to examine what’s driving the stablecoin goldrush, and dive into how Gasp provides one of the most hyper-efficient stablecoin trading environments.
Slowly at First, then All at Once
Firstly, let’s start by saying it’s unfair of us to compare stablecoins to NFTs or fractionalization. The current stablecoin gold rush isn’t driven by hype cycles or speculative mania. It’s driven by fundamentals — the kind that attract the attention of banks, fintechs, and crypto-native builders all at once.
Traditional finance has seen enough. After years of hesitation, the institutions are entering. Fidelity is testing a dollar-backed stablecoin. PayPal has rolled out PYUSD and begun nudging it into consumer-facing flows. Stripe now enables stablecoin payouts. Visa settles transactions in USDC. Revolut already enables users to pay and get paid in stables. And even old school financial institutions like Standard Chartered are preparing to issue a regulated HKD-backed stablecoin.
Meanwhile, the real-world asset (RWA) narrative is accelerating. Yield-hungry capital is flowing into stablecoins backed not just by dollars, but by tokenized treasuries, commercial paper, and even gold. BlackRock’s BUIDL and Ondo’s USDY are turning passive assets into yield-bearing instruments. These stablecoins don’t just preserve value — they generate it.
At the same time, localized stablecoins tied to the euro, UAE dirham, or Japanese yen are challenging dollar dominance. USDC’s launch in Japan earlier this year marks a key turning point in stablecoins becoming a multi-currency, global force.
Platforms like Base are witnessing surging inflows and new stablecoin creation, fueling DeFi with liquidity that rivals traditional banking systems. And the market is responding — stablecoin transaction volume reached $27.6 trillion in 2024, outpacing Visa and Mastercard combined, according to CEX.IO. Bitwise now predicts the stablecoin supply could double to $400 billion by the end of 2025.
There’s also a geopolitical current driving adoption. In emerging markets, stablecoins are a lifeline. In BRICS nations, they’re an escape hatch. And in jurisdictions like Hong Kong and the UAE, governments are actively building frameworks to support local stablecoin ecosystems. What used to be a USDC vs USDT story is now a global liquidity race.
The writing is on the wall: stablecoins are programmable, borderless, liquid 24/7 — and they’re not just here to stay, they’re laying the rails for the next generation of finance. But there are still major hurdles. Liquidity fragmentation. Chain silos. High trading costs. And that’s exactly where Gasp steps in.
Gasp: Redefining Stablecoin Trading Efficiency
As we already explored, for over a decade stablecoins have served as a reliable bridge between traditional fiat and digital assets, facilitating trading and liquidity with a steady hand. Yet, despite their longevity, stablecoin trading has often been hampered by inefficiencies—slippage, gas fees, and maximal extractable value (MEV)—that erode profitability.
At scale, this can eat into profits on small transactions, generally making it prohibitively expensive to make smaller trades or move quickly in and out of positions across stablecoins.
If we compare this to traditional FX trading, where traders can take relatively small position sizes and profit from micro price movements between forex pairs, we can see that the current stablecoin infra doesn’t support this hyper-liquid and efficient marketplace for traders. Gasp, as a gasless multi-settlement trading blockchain with connectivity to Bitcoin, Ethereum, L2’s and any L1, can finally offer a decentralized but truly efficient trading environment for stablecoins. Let’s discover this in more detail.
1. Precision Trading Through Guaranteed Fixed Costs
Consider a stablecoin pair such as sLVLUSD:USDT. On established platforms, for example such as Curve, traders encounter a familiar set of challenges. A $10,000 swap might incur $200 in slippage due to market depth, $50 lost to MEV exploitation by bots, and $30 in Ethereum gas fees—a total cost of $280. For algorithmic and high volume traders, these expenses often render trades unprofitable, particularly when pursuing narrow arbitrage opportunities. Such inefficiencies have long constrained the potential of stablecoin markets, limiting their appeal beyond basic utility.
Because Gasp is a blockchain designed purely for trading, we address these issues with a fundamentally different approach. As a purpose-built blockchain, we can eliminate gas fees and minimize MEV, ensuring that trading costs are both predictable and significantly reduced.
For the same sLVLUSD:USDT pair used in the example above on Gasp, slippage is optimized, MEV is curtailed, and gas expenses are absent, preserving capital and enhancing returns. Furthermore, Gasp introduces on-chain limit orders, granting algorithmic traders precise control over execution. This enables profitability on price differentials that would be impractical elsewhere, unlocking arbitrage opportunities previously deemed unviable. The result is a self-reinforcing cycle: increased trading activity drives higher volume, which in turn attracts liquidity providers (LPs), bolstering market depth and efficiency.
2. A Multi-Settlement Framework for Cross-Chain Liquidity
Gasp’s innovation extends beyond trading mechanics to its underlying infrastructure. Built on a multi-settlement Layer 2 architecture, the platform connects seamlessly to all major blockchains, with permissionless deposits democratizing access to liquidity creation. Through Gasp an LP could in theory deploy 1,000 stablecoins into a pool with minimal friction—requiring only a deposit—enabling rapid scaling of market capacity. This flexibility positions Gasp as an ideal venue for advanced stablecoin pairs, such as yield-bearing assets from distinct ecosystems.
For instance, pairing a yield-bearing stablecoin from Ethereum (e.g., BlackRock’s BUIDL) with one from another Layer 1, such as Solana (e.g., Ethena’s USDe), creates a compelling proposition. These pairs offer implicit yield on both assets, supplemented by Gasp’s LP rewards, volume-based incentives, and potential bonuses from campaigns like XP points or issuer promotions.
Beyond stablecoins, Gasp supports efficient liquidity provision for pairs like ETH/stablecoin or BTC/stablecoin, facilitating seamless exchange and settlement across blockchain ecosystems. This interconnected design establishes Gasp as a central hub for stablecoin activity, enhancing its utility and appeal to a broad range of participants.
Gasp As a Stablecoin Hub
If stablecoins are high speed trains carrying passengers across the crypto universe, then Gasp is the Grand Central Station of stablecoin liquidity.
With connections to virtually any blockchain, Gasp offers an efficient place for traders looking to capitalize on the stablecoin goldrush, a purpose-built blockchain that makes high volume low value transactions profitable, delivers MEV minimisation, and enables instant access to virtually any asset on any chain.
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