Gasp

What Gasp does

Gasp is a cross-chain trading protocol built on EigenLayer's restaking infrastructure as an Actively Validated Service (AVS). Founded originally as Mangata Finance in 2020 and rebranded in April 2024, the company is headquartered in Bratislava and operates with an 11-50 person team. Gasp's core product enables lightning-fast, gas-free, MEV-protected swaps between different blockchain networks by leveraging restaked ETH as a security and validation layer, addressing the problem of fragmented liquidity and slow execution across rollups and layer-1 chains.

The protocol differentiates through its EigenLayer AVS architecture, which uses decentralized validation secured by restaked ETH rather than relying on standalone validator sets. This positions Gasp within the broader restaking ecosystem and targets both human-driven DeFi traders and an emerging machine-to-machine commerce vertical. The company is pre-revenue, currently operating at the testnet stage with mainnet launch pending, and generates no transaction fee revenue yet.

Gasp has raised $11 million cumulatively across four funding rounds (2021 seed led by Polychain, 2022 round of $4.2M, and a 2024 private placement of $5M), reaching an $80 million post-money valuation. Its investor base includes Polychain Capital, CMS Holdings, Cluster Capital (largest share in 2024 round), Master Ventures, Token Metrics, and several other crypto-native funds. The company's go-to-market is community-led and pre-launch, focused on building investor and community support ahead of public mainnet deployment.

Name

Gasp

Legal name

Gasp

Website

https://gasp.xyz

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

Gasp is a cross-chain trading protocol built as an EigenLayer Actively Validated Service (AVS), enabling lightning-fast, gas-free, MEV-protected swaps across blockchain networks. It serves DeFi traders and targets machine-to-machine commerce, currently operating at testnet stage pre-mainnet.

Ownership category

akta.pro rank

Product category

Decentralized Finance (DeFi) Cross-Chain Trading Protocol

NAICS

Securities and Commodity Exchanges (52321), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Liquidity Bridges & Cross-Chain Swaps (bridge aggregators, intent-based swaps) (FSAPAKAC)

akta.pro secondary industries

Liquidity Aggregation & Smart Order Routing (FSADAJAD), Liquidity Management & Market-Making Protocols (FSADAMAH)

Keywords

• Cross-chain trading protocol
• Decentralized exchange
• EigenLayer AVS
• Cross-rollup swaps
• DeFi liquidity protocol

Headquarters

HQ city

Bratislava

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations

Revenue model

1. Cross-chain swap fees: As a cross-chain trading protocol, Gasp generates revenue through transaction fees charged on cross-chain swaps and trades executed through its platform.

Go-to-market motion1 record

Core offering

Gasp is a decentralized cross-chain trading protocol built on EigenLayer as an Actively Validated Service (AVS). It enables lightning-fast, gas-free, and MEV-protected swaps between blockchain networks by leveraging restaked ETH for decentralized validation. The platform targets machine-to-machine commerce and DeFi users seeking efficient cross-rollup asset exchange with unified liquidity.

Product overview

Gasp is a single unified product — a cross-chain trading protocol built on EigenLayer as an Actively Validated Service (AVS). The platform enables decentralized, fast cross-chain asset swaps. Previously known as Mangata Finance before rebranding to Gasp.

Differentiator

Problem solved

Functional benefit

Products and services

• Gasp A cross-chain trading protocol built on EigenLayer as an Actively Validated Service (AVS), enabling lightning-fast, gas-free, and MEV-protected swaps between blockchain networks through decentralized validation. Designed for DeFi traders and machine-to-machine commerce use cases.

Quantifiable outcome

• Aiming to become a leading cross-chain exchange for lightning-fast swaps

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• EigenLayercoreTechnology or Integration · 3 April 2024Gasp operates as an EigenLayer Actively Validated Service (AVS), leveraging EigenLayer's restaking infrastructure for security and validation of its cross-chain trading protocol.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• LayerZero: LayerZero is the dominant omnichain messaging infrastructure underpinning many cross-chain applications including Stargate. While not a direct swap product, Gasp's AVS approach is a strategic alternative to LayerZero's messaging model for cross-chain interoperability.
• Wormhole: Wormhole is a generalized cross-chain messaging protocol connecting many blockchains, used by multiple DeFi apps for bridging and swaps. It represents an established incumbent in the cross-chain space against which Gasp must differentiate on speed and MEV protection.

Direct peers

• Hop Protocol: Hop is a rollup-to-rollup bridging protocol that enables fast token transfers between L2s using a Bonder network. It is a direct competitor in the cross-rollup swap space that Gasp explicitly targets.
• Squid Router: Squid is a cross-chain swap router built on Axelar that aggregates liquidity for one-click swaps across chains. It competes with Gasp on user-facing cross-chain swap UX and routing efficiency.
• Stargate Finance: Stargate is a cross-chain liquidity transport protocol built on LayerZero, enabling asset swaps and bridging across many chains. It competes directly with Gasp in unified cross-chain liquidity and is one of the deepest-liquidity cross-chain venues in DeFi.
• THORChain: THORChain is a decentralized cross-chain liquidity network enabling native asset swaps between Bitcoin, Ethereum, Cosmos, and other chains. It competes with Gasp in the cross-chain swap category and represents a more established, native-asset-focused alternative.
• Synapse Protocol: Synapse is a cross-chain liquidity network enabling swaps and bridging across EVM and non-EVM chains. It competes with Gasp for cross-chain swap volume and shares a similar product surface focused on fast, multi-chain asset exchange.
• Connext: Connext is a modular bridging protocol focused on secure cross-chain transfers using optimistic verification. It targets the same cross-chain swap use case as Gasp, particularly between Ethereum and L2s, and competes on speed and security guarantees.
• Across Protocol: Across is a leading cross-chain bridge and swap protocol optimized for fast, intent-based transfers between rollups and L1s. It is the closest direct competitor to Gasp's cross-chain swap offering, competing on speed, fees, and MEV protection.

Emerging players

• Symbiosis: Symbiosis is a cross-chain AMM enabling swaps between any EVM and non-EVM networks. It is an emerging peer in the cross-chain swap space with similar ambitions to Gasp regarding unified multi-chain liquidity.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks4 records

Key highlights5 records

Customer concentration

• Xx.com/gasp_xyz
• LinkedInlinkedin.com/company/gasp-network

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds5 records

Investors23 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gasp