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Get Involved in the Gasp Alpha Launch

Gasp Team

• 6 min read
Get Involved in the Gasp Alpha Launch

The Gasp Alpha phase launches next Monday, on the 16th of December. This release is a culmination of months of hard work from our developers. A showcase of our creative world-building, lore, and the introduction of the Gasp natives. And last but not least, it’s the first user-facing app to launch in the EigenLayer ecosystem. This is Gasp, and it’s officially here in Alpha.

As we shared in our previous article, the Alpha launch is an opportunity to introduce stability to the Gasp DEX, and fuel up ahead of our full mainnet launch in 2025. During this phase, we’ll be carefully rolling out new features and utility, forging ahead on our quest for Gasp to become crypto’s first consolidated layer for all assets. For those who join us early in this quest as we navigate the Gasp Universe, great experiences await you.

In this article, we’re excited to share everything you’ll need to know to make the most of the Gasp Alpha launch. We’ll walk you through the first version of the Gasp DEX at launch, our dashboard, our pools, our swap interface, and which features will be live during our Alpha.

Welcome to Gasp

The Gasp testnet will officially end with the launch of the Alpha Phase. Although there will be some familiar features from our testnet, we’ll be introducing a whole host of new utility for our Alpha phase, including: 

  • The GASP Token: GASP is essential for swaps made on the Gasp Network. During the Alpha Phase, swaps will be gasless. However, swaps of less than $5 will require the user to lock 50 GASP for 24 hours.  The more GASP tokens a user holds, the higher the number of swaps a user will be able to make within a 24-hour period. This helps us stay protected from bots taking advantage of our gas-free DEX. GASP tokens are released back to users after the lock ends.
  • The GASP Community Pool: If GASP is essential for using our DEX, you need a way to get it! The GASP Community pool will be open during the Alpha phase to acquire GASP directly within the Gasp DEX. Its floor price will be determined according to our last private round, giving our community an opportunity to get in early ahead of our mainnet release. The GASP price will reflect demand during the Alpha Phase. More on the community pool and GASP token specifics to come soon. 
  • Base Functionality: In our testnet we had connections to the Ethereum and Arbitrum chains. During Alpha, we’ll roll out new EVM L2’s, starting with Base, Arbitrum, and Ethereum at launch, and soon after rolling out new chain connections. Swap assets seamlessly from three of the largest chains right from our launch. Crypto consolidation starts here!
  • Live Staking & Collators: Limited staking opportunities were available during our testnet, with only testnet yield for our users. Once our Alpha Phase goes live, we’ll have multiple collators available to stake your LP Tokens into - providing multiple opportunities for our early adopters to generate real rewards during our Alpha Phase!
  • The Gasp Dashboard: Finally, we’ll be introducing the Gasp Dashboard. This is a completely new feature that wasn’t part of our testnet. Want more info? Read on!

The Gasp Dashboard

Cling is always watching over you. This benevolent little rock represents the firmament of the Gasp Universe. During your quest, Cling will appear at different stages to let you know he’s tracking your journey, and taking note of the most intrepid adventurers. If you thought Santa Claus was keeping a list and checking it twice… wait until you meet Cling! 

During our Alpha phase, Gasp offers a variety of ways for users to earn rewards by actively engaging with the platform. This ranges from anything to active trading days, to volume, or total number of trades made. As the Alpha phase progresses, we’ll switch up which activity we’re tracking, and look at other metrics such as deposits made, pools created, or other actions in our DEX.

We’ll be tracking the activity of all Gasp Natives who join us at this stage, as well as providing incentives for other activities, including: 

  • Liquidity Providers: By contributing to liquidity pools, especially those involving cross-chain pairs or niche assets, users will be able to earn rewards. This offers an easy and efficient way to earn passive rewards while supporting the platform’s Alpha growth.
  • Referrals: 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. 

Gas Free Swaps, MEV Protection & EigenLayer 

With all of the exciting upcoming features going live in our Alpha Phase, it can be easy to forget Gasp’s fundamentals. Our value proposition is huge. Let’s go back to basics for a moment and look at the most important question — why should you use Gasp over another DEX or cross-chain solution? Let’s start with gas free swaps.

Gas Free Swaps

Under normal circumstances, traders pay two types of fees when using a DEX: Gas fees for the network, and exchange commission for the DEX. While the latter is reserved for the protocol treasury, gas fees are required for preventing malicious actors from spamming the chain, and incentivizing nodes to create blocks. In times of low network activity, gas isn’t so burdensome for the average user. But in high periods of network activity, gas on the Ethereum mainnet can exceed well in excess of $50 for a single transaction. For high volume traders, this can become a serious cost, and for the average trader who just wants to swap a small amount of tokens, it can prevent them from making a trade altogether.

Instead, Gasp allows traders to save money by only charging a single fee. Because Gasp is an appchain, the rules of the chain can be changed and it’s possible to remove the gas fees altogether. Gasp utilizes the exchange commission as spam protection and eliminates the gas fee for users, an incredibly powerful tool for cutting costs to both retail and power traders alike.

MEV Protection

Themis Consensus Extension, implemented by Gasp, addresses the challenges of Miner Extractable Value (MEV) by minimizing the effects of value extraction by reordering (VER) and value extraction by denial (VED). It achieves this through a two-step block production process that separates transaction inclusion from execution order and uses cryptographic encryption to protect transaction data. This ensures fair execution of transactions on the Gasp DEX, prevents front running and sandwich attacks, and provides better price outcomes for our users! So not only are you swapping in a gas-free environment with Gasp, but you’re also getting the best rate on your swaps!

How Gasp Uses EigenLayer

While ZK-rollups are effective within their own Layer 1 (L1) environments, they lack the capability to validate transactions across different chains, such as ETH<>BTC swaps. For cross-chain swaps, a reliable, trustless verification mechanism is essential, which is why we decided to use Ethereum to certify the integrity of Gasp — this is where EigenLayer comes into play. 

EigenLayer provides Gasp with the strong economic security of Ethereum that is needed to deliver on our vision. With Gasp integrated with EigenLayer, executing cross-chain swaps is as straightforward as interacting with a smart contract on Ethereum or any other integrated chain. Not only does Gasp’s EigenLayer security integration simplify the process but also ensures robust, trustless transactions across diverse blockchain ecosystems. 

Importantly, we’re also the first AVS built on EigenLayer that provides a product directly to end users, rather than another pure infrastructure project. For the first time, users will be able to experience the power of restaking for shared security through a user-friendly DApp. 

What Can You Do Next? 

It’s here. It’s happening. The Alpha Launch for Gasp is just days away. Don’t miss the opportunity to join Gasp’s growth and be rewarded for your participation. In the Alpha Phase, you’ll have the chance to earn through trading, staking, and liquidity provisioning, while helping to build the foundation for a decentralized, crypto asset consolidation layer and cross-chain DEX. 

Your involvement will play a key role in shaping Gasp’s future as it leads the way in transforming digital asset interactions across multiple markets! Make sure you’re following all of our socials so you’re the first to know when we go live. Also, get ready to acquire GASP from our Community Pool - We’ll soon share on socials which assets you’ll need for that! 

Let’s go Gasp Natives!

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