Gasp, a cross-chain exchange protocol based on EigenLayer, is launching a cross-chain communication platform aimed at providing enterprises and individual users with substantial funds and high-speed transactions. As a native cross-rollup protocol, Gasp focuses on facilitating gas-free, MEV-protected, and fast cross-rollup swaps using technologies like escape hatches, ZK proofs, and decentralized orderers. The protocol enhances security and reduces risks by ensuring trustless transactions, which is a significant improvement over centralized single points of failure and traditional bridging mechanisms. Additionally, Gasp has announced an airdrop of 3% GASP to MGX testnet token holders and is exploring ways to transition LP providers from Mangata to GASP, with an additional 4% of GASP supply reserved for early community building incentives. Previously in April, Gasp (formerly Mangata Finance) announced a $5 million private funding round with investors including Polychain Capital, CMS Holdings, Master Ventures, Token Metrics, and Cluster Capital, bringing Gasp's FDV to $80 million.

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According to official sources, Gasp, a cross-chain exchange protocol based on EigenLayer, is launching a cross-chain communication platform that provides a large amount of funds and high-speed transactions for enterprises and retail investors. As a native cross-rollup protocol, Gasp aims to facilitate gasless, MEV protection, and fast cross-rollup swaps. The protocol achieves this by utilizing technologies such as escape hatches, ZK proofs, and decentralized sequencers. A notable feature of the Gasp approach is its decentralized mechanism that ensures trustless transactions, enhancing security and reducing risks compared to protocols with centralized single points of failure and other traditional bridging mechanisms. Gasp also eliminates the need for wrapped tokens. The team has designed a platform that includes cross-chain liquidity pools and vaults, EigenLayer security, gasless transactions, an instant fund transfer ferry mechanism, and MEV protection to prevent frontrunning and sandwich attacks. Additionally, the official announcement revealed a 3% airdrop of GASP to holders of the MGX testnet era, currently exploring the migration of LP providers from Mangata to GASP, and reserving an additional 4% of GASP supply for early community building incentives. In previous news from April, Gasp (formerly Mangata Finance) announced the completion of a $5 million private funding round, with participation from Polychain Capital, CMS Holdings, Master Ventures, Token Metrics, and Cluster Capital, among others. Sources indicate that this funding round has brought Gasp's FDV to $80 million.

Gasp Launches Cross-Chain Communication Platform, Announces Airdrop and Funding Round