Gate has announced the integration of Kasplex Layer 2 on Kaspa, establishing a direct bridge for users to transfer $KAS onto an EVM-compatible DeFi environment.
Gate has officially incorporated the Kasplex Layer 2 network, enabling users to transfer Kaspa’s native token $KAS between the Kaspa Layer 1 chain and Kasplex L2 directly through the exchange. This integration allows customers to easily move $KAS from Kaspa L1 to the Kasplex L2 wallet, reducing entry barriers and enhancing asset circulation and on-chain interaction for $KAS holders.
Kasplex, a Layer 2 solution built on top of Kaspa’s BlockDAG-based Layer 1, aims to introduce Ethereum-style smart contract functionality to a network that utilizes a UTXO model similar to Bitcoin and lacks a native contract layer. The technical documentation describes Kasplex as a lightweight Rollup solution based on Kaspa, integrating EVM bytecode into Kaspa L1 transactions and executing it off-chain to update Layer 2 state while utilizing Kaspa for ordering and data availability.
The Kasplex team emphasizes that the network utilizes bridged $KAS as its sole gas token, maintaining economic alignment and value within the Kaspa ecosystem. The project offers a two-way bridge for transferring $KAS between L1 and L2, making smart-contract deployment as simple as redirecting RPC endpoints, catering to developers familiar with EVM tooling.
Kasplex’s architecture combines the high-throughput BlockDAG design of the base chain with EVM-compatible execution, aiming to unlock DeFi, NFTs, and other dApps on Kaspa. The network supports automated market makers, lending and borrowing markets, stablecoins, and other composable protocols that cannot be achieved solely on the primary chain.
Kaspa has emerged as one of the actively traded mid-cap layer-1 tokens, with a current price of approximately $0.0345. The 24-hour trading range fluctuates between $0.0340 and $0.0353, with a recent 24-hour volume close to $26.4 million. Kaspa’s all-time high is recorded at $0.2075, indicating that $KAS currently trades more than 80% below its peak, a gap that could potentially be narrowed with increased L2 utility over time.
The Kaspa community views the integration of Kasplex as a significant milestone ahead of the imminent mainnet launch, emphasizing the momentum surrounding node decentralization, liquidity pools, and wallet integrations. Gate’s direct integration of Kasplex into its deposit and withdrawal processes aims to facilitate a smoother transition to L2, potentially increasing the flow of $KAS into smart contracts and boosting activity across Kaspa’s expanding DeFi ecosystem.