Introducing Gasp

What is Gasp?

Gasp is a cross-chain DEX and protocol designed for exchanging crypto assets between blockchains, such as Ethereum L2s and rollups, Solana, Bitcoin, RWA protocols, web3 gaming ecosystems, and much more. Gasp provides a cross-chain communication platform that scales infinitely with large amounts of capital, and provides high-speed trading for both enterprise and individual retail users.

This documentation delves into Gasp’s gas-free, secure, and lightning-fast swaps for cross-chain transactions, exploring the impact of Gasp’s core technology stack, its implementation, and how it reshapes cross-rollup transactions.

Native Cross-Chain Protocol vs Bridge

Limitations of Existing Bridges

Several cross-rollup bridges exist within the Ethereum ecosystem. However, these solutions are often flawed due to reliance on centralized authorities, which introduces trust and security issues. Additionally, these bridges frequently require wrapped tokens, adding extra steps and complexity to the user experience.

Gasp’s Approach

Gasp is implemented as a Layer 2 (L2) on Ethereum using EigenLayer restaked security. Its operations are censorship-resistant, prioritizing security, self-custody, and liquidity withdrawal guarantees through Gasp's escape hatch mechanism, all without trusted intermediaries.

The GASP token powers the Gasp network, facilitating exchange transactions through staking. This ensures the network remains operational and censorship-resistant, while also determining transaction throughput. A larger GASP stake unlocks more transaction throughput within the network.

Gasp facilitates gas-free, MEV-protected, and lightning-fast cross-rollup swaps using technologies like escape hatches, ZK proofs, and decentralized sequencers. This trustless transaction approach enhances security and reduces risks compared to centralized protocols and traditional bridge mechanisms, eliminating the need for wrapped tokens.

How Gasp Works

Cross-Chain Liquidity Pools and Vaults

Gasp maintains liquidity pools (LPs) on both sides of each swap, ensuring availability for transactions. Vaults strategically allocate liquidity to various pools, maximizing returns while maintaining sufficient liquidity for user transactions. This system ensures efficient, reliable swaps with minimal slippage or transaction delays.

EigenLayer Security

Gasp uses EigenLayer to ensure transaction finality through Ethereum’s crypto-economic security, providing a unified security framework that enhances the reliability and trustworthiness of cross-chain transactions.

Ferry Mechanism

When a user initiates a deposit on one blockchain, a ferry (independent actor or liquidity provider) observes the transaction and advances the equivalent amount on the target blockchain before the deposit is fully confirmed. This mechanism ensures faster finality by taking on the risk of transaction validity, allowing for immediate fund transfers.

MEV Protection

Gasp’s MEV protection eliminates transaction reordering and censoring possibilities in traditional blockchain architectures. Transactions on Gasp are protected from front-running and sandwich attacks through a unique method of hiding transaction details until execution, ensuring a secure and equitable trading environment.

Achieving Gas-Free Swaps

Gasp's application-specific chain architecture avoids double charging typical in other protocols, enabling gas-free swaps. Gasp limits excessive fees for users. While there is a 0.3% exchange commission fee, Gasp does not include gas, MEV, or other hidden costs, simplifying cost calculations for users. The combined product model of blockchain users and automated market makers (AMM) allows Gasp to offer gas-free transactions.