Question 1

What is GASP (GASP)?

Accepted Answer

GASP is the utility token of the Gasp decentralized exchange (DEX), which operates as an application-specific Layer 2 (L2) rollup designed for decentralized, gas-free, and native cross-chain asset swaps. Built on a master-rollup architecture and secured via EigenLayer's restaked Ethereum, Gasp acts as a consolidation layer that enables interoperability among diverse blockchain networks, including both EVM and non-EVM ecosystems.

Gasp employs decentralized sequencers, escape hatches for fail-safes, and an architecture that avoids Turing completeness, aiming for scalability, security, and capital efficiency. The protocol also includes the Themis Architecture to minimize Maximum Extractable Value (MEV) and a Proof-of-Liquidity (PoL) mechanism to align liquidity provision with network security.

Question 2

What is GASP (GASP) used for?

Accepted Answer

The GASP token serves multiple functions within the Gasp ecosystem:

- **Gasless Transactions**: GASP enables users to perform swaps on the Gasp network without paying traditional gas fees. A gating mechanism is implemented to prevent abuse through the temporary lock-up of GASP tokens.
- **Network Security**: GASP is staked on EigenLayer to support the protocol’s actively validated service (AVS), contributing to network integrity and validation.
- **Liquidity Incentives**: LP tokens paired with GASP are used in the Proof-of-Liquidity framework, providing rewards for liquidity provisioning while simultaneously securing the protocol.
- **Governance**: GASP holders will participate in governance through a council-based system and future democracy mechanism, allowing them to propose and vote on protocol upgrades and decisions.

Question 3

Who created GASP (GASP)?

Accepted Answer

GASP was created by Stanislav Vozarik, Mateusz Nowakowski, Shoeb Siddiqui, Peter Kris, Elliot Hill, and Gleb Urvanov.

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