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Gasp DEX: A Comprehensive Guide

Gasp Team

• 7 min read
Gasp DEX: A Comprehensive Guide

Welcome to Gasp – the first consolidated asset platform. 

We are bridging all digital assets under one roof. Our vision is to build a seamless way to move assets across blockchains—securely, instantly, and without gas fees. 

Our first rollout is here, introducing our network, community pool, and cross-chain DEX. This is your chance to start using Gasp during our 6-month fueling phase, where early adopters can explore, trade, and earn rewards.

Our goal is to bring together fragmented digital asset markets into one unified platform. This alpha phase is just the beginning.

In this guide, we’ll show you exactly how to navigate Gasp, maximize rewards, and make the most of this early access opportunity. Let’s dive in!

What is the Gasp Alpha Phase?

The Gasp Alpha phase is your early access to our platform before the full launch. You can swap assets across chains during this phase with zero gas fees. Only a small fraction of your transactions will be charged for app maintenance.

Here’s what you can do during the Alpha phase:

  1. Create permissionless cross-chain liquidity pools. Unlike other DEXs, Gasp allows you to set up pools across chains without restrictions, powered by EigenLayer’s security.
  2. Swap and provide liquidity on new EVM chains. Optimism, Polygon, Berachain, Monad, Scroll, Blast, and more will be progressively added to Gasp, expanding your trading options.
  3. Earn rewards for being an early adopter. Trading, staking, and liquidity activities during the Alpha phase come with exclusive benefits to be uncovered by the end of this phase.

Help us build the foundation of our vision, and you will be rewarded.

The GASP Token

$GASP is the backbone of the Gasp Network, enabling seamless swaps. 

All swaps are gasless on Gasp, but users must lock a portion of GASP for 24 hours to complete the transaction. The GASP is released back to the user after the lock expires.

The more $GASP you lock, the more swaps you can make within 24 hours. 

This mechanism helps prevent bots from exploiting our gas-free DEX, ensuring a fair trading environment. Once the lock period ends, your $GASP is fully released back to you.

Note: $GASP is non-transferable and non-tradable, for now. This temporary restriction ensures a fair distribution and prevents speculative trading before the full mainnet launch. The tradability of the $GASP token will be available soon.

Start Trading

How to buy $GASP

Currently exist two ways to purchase the GASP token:

  1. You can buy $GASP on the Ethereum mainnet following this guide – Buy $GASP on ETH
  2. You can buy $GASP directly in the Gasp DEX via Arbitrum or Base mainnet with a limitation of 1k GASP per swap with USDT – Buy $GASP on GASP
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How to Deposit to Gasp

To deposit funds into the Gasp DEX, you have to: 

  1. Connect your Metamask wallet: Click the “Connect Wallet” button in the top-right corner.
  2. Verify Connection: If connected successfully, you’ll see the "Deposit" button appear.
  3. Select Your Chain & Token: Choose the blockchain network and the token you want to deposit.
  4. Complete Your Deposit: Once the deposit is successful, your assets will appear in the "Token" section.

If after 30 minutes, you don't see your funds deposited in your balance, head to our Discord Server and submit a support ticket.

How to Withdraw from Gasp

To withdraw your funds from the Gasp DEX, you have to:

  1. Click the "Send" Button: This will initiate the withdrawal process.
  2. Select chain &token: Choose the blockchain network and the token you want to withdraw.
  3. Enter the amount: Specify how much you want to withdraw.
  4. Confirm and sign – Click "Withdraw" and sign the transaction in your wallet to complete the process.

Execute your First Swap

To execute your first-ever gas-free swap on the Gasp DEX, you need to:

  1. Connect Your Wallet: Ensure your wallet is connected to the Gasp DEX.
  2. Check Your Balance: Open your wallet to view your available assets and the wallets you have deposited into Gasp.
  3. Confirm Your $GASP Balance: You need at least 50 GASP to fund the temporary lockup. These tokens will be returned to your balance after the lockup ends.
  4. Ensure You Have a Tradable Token: Make sure you hold a token other than $GASP to swap.
  5. Navigate to the Trading Interface: Ensure you are on the Trade tab.
  6. Select Tokens for Swap – Choose the tokens you want to trade from the available options on Gasp.
  7. Confirm Swap Details – Your tokens will be automatically routed across chains for the best execution.
  8. Click “Swap” – Execute the trade.
  9. Check for Confirmation – Once successful, a confirmation message will appear. You will also see the $GASP lockup reflected in your balance.

Note: Every swap requires a $GASP lockup to enable gas-free transactions. It is recommended to maintain a sufficient balance based on your expected trading activity.

Every swap is recorded in the dashboard. Engagement with the platform during the Alpha phase will be rewarded at the end of the period.

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Provide Liquidity

Gasp enables users to permissionlessly provide liquidity to cross-chain pools. This means that anyone can:

  • Create liquidity pools without restrictions.
  • Provide liquidity to existing pools across different chains.
  • Mine liquidity and earn rewards from supported pools.

With Gasp, users have full control over their liquidity provisioning, making it easy to participate in cross-chain DeFi without centralized limitations.

By any of the actions listed above, you can earn different types of rewards, including trading fees and potential incentives.

Add Liquidity to an Existing Pool

By providing liquidity you are depositing tokens into a liquidity pool on Gasp. In return, you earn a portion of the trading fees generated by swaps in that pool

  1. Go to the Pools Page: Click on "Pools" in the navigation menu or visit this page.
  2. Select a Pool: Choose any pool where you want to add liquidity.
  3. Click "Add Liquidity”: This will open the liquidity deposit interface.
  4. Enter the Amount: Specify how many tokens you want to add as liquidity.
  5. Confirm the Transaction: Click "Add Liquidity" and sign the transaction in your wallet.
  6. Check Your Position: You can view your liquidity contributions under the "My Positions" tab.

Note: Liquidity provision does not automatically qualify for liquidity mining rewards unless explicitly stated. We will show you how to mine liquidity later.

Create a Cross-Chain Liquidity Pool

  1. Click on "Create Pool": This will open the pool creation interface.
  2. Select Assets: Choose the tokens you want to pair in the liquidity pool.
  3. Enter Deposit Amount: Specify how much of each asset you want to deposit.
  4. Confirm and Create: Complete the process to establish the pool.

The unique feature of Gasp DEX is its ability to support cross-chain liquidity pools, allowing users to provide liquidity across different blockchains seamlessly

Liquidity Mining

Liquidity mining is an additional incentive for users to keep liquidity in certain pools. It distributes extra rewards to liquidity providers based on specific conditions, such as:

  • How long their liquidity has remained in the pool
  • The pool’s eligibility for liquidity mining rewards

Rewards in liquidity mining accrue over time. On Gasp, they accumulate every ~4 hours.

Here is a breakdown of how to proceed:

  1. Go to the Promoted Pools Page: Visit this page to see pools with liquidity mining rewards.
  2. Select a Pool: Choose any pool where you want to provide liquidity.
  3. Add Liquidity: Follow the steps in the Adding Liquidity Guide to deposit assets.
  4. Check Your Positions: Go to the My Positions page at this link.
  5. Select Your Pool Position – Click on the liquidity pool where you have added liquidity.
  6. Enable Liquidity Mining – Switch to the Liquidity Mining tab, click Show More, and ensure that the "Activate All" button is inactive. If inactive, liquidity mining is already running, and you are earning rewards.

By participating in liquidity mining, you maximize your rewards based on how long your liquidity remains in the pool.

Stake your GASP

This staking system allows users to participate in the network more actively while generating returns on their assets. 

With the launch of the Alpha Phase, multiple collators are available for staking $GASP, offering early adopters daily yield and post-fueling phase rewards.

Please note that staking availability is limited during this phase, as there are caps on the total amount of $GASP that can be staked. If staking is temporarily unavailable, you may need to wait for more capacity to open up. Follow Gasp on X, turn on the notifications button, and don't miss out.

The team is working on expanding the current staking capacity at the moment, more details soon.

Dashboard 

You might be wondering – who is this rock? Well, this is Cling, the foundation of the Gasp Universe, and yes, it’s always watching. It tracks your activity on the Gasp DEX. 

During the Alpha Phase, Gasp offers multiple ways to earn rewards through active engagement with the platform. Initially, rewards will be based on metrics such as:

  • Active trading days
  • Trading volume
  • Total number of trades

As the Alpha Phase progresses, the focus may shift to other activities, including:

  • Deposits made
  • Liquidity pools created
  • Liquidity provided
  • Staking
  • Referrals (coming soon)

Referral Program

Gasp is also planning rewards for users who bring new participants to the platform. We’ll be releasing more information about our referral program shortly after the launch of the Alpha Phase. 

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