Gelato Network

Gelato Network

Gelato is a decentralized backend for Web3 that aims to empower developers in creating automated and efficient smart contracts across various EVM-compatible blockchains. It offers a range of services and features that streamline transaction execution and provide a seamless user experience. Gelato has gained the trust of numerous leading web3 projects, including DeFi platforms like MakerDAO and PancakeSwap, as well as scaling solutions like Optimism.

Gelato Network banner

Here are some of the key services and features offered by Gelato:

  1. Web3 Functions: Gelato’s Web3 Functions, formerly known as “Off-Chain Resolvers,” allow developers to augment their smart contracts with off-chain data and computation. This enables them to connect their web3 apps to real-world, trust-minimized data, enhancing the user experience and enabling the development of powerful and sophisticated decentralized applications.
  2. Automate: Gelato Automate enables the automatic execution of transactions on over 12 different EVM blockchains based on off-chain computation. Developers can leverage Web3 Functions to perform custom data integrity checks and run computation on the data, allowing for more efficient and automated smart contract execution.
  3. Relay: Gelato Relay provides a decentralized relay network that allows web3 front ends to offer users a fully gasless user experience. It abstracts away the complexities of interacting with blockchains, providing a simple, reliable, and scalable solution for transaction management across major EVM chains. This enables cross-chain messaging protocols to scale and serve thousands of users without the need for custom centralized relaying infrastructure.
  4. Gasless Wallet: Gelato’s Gasless Wallet SDK simplifies the process of building web3 apps that can onboard the first billion users to web3. It offers features such as gasless transactions, in-wallet automation, credit card payments, and more user-friendly functionalities. By eliminating the need for users to send transactions, pay for gas, and remember private keys, Gelato aims to make web3 adoption easier than ever.

In addition to these services, Gelato has plans for $GEL staking and network decentralization. Gelato aims to become a self-sufficient, decentralized network of Node Operators that provide off-chain computation resources and execute transactions. Node Operators will be able to stake their GEL tokens to participate in the network and earn fees. The more GEL they stake, the higher their share of the total revenue pool. This decentralized model incentivizes node operators to provide reliable services and penalizes malicious behavior.

PROJECT CATEGORY:

PROJECT INVESTOR:

d1 ventures
dragonfly capital 1
galaxy digital
ideo colab ventures e1662990519203
iosg 1
metacartel vc
nascent
parafi capital
stani kulechov
the lao e1662719274207

FUNDING ROUND

Date: January, 2024

Funding round investors:

Round: Series A
Amount raised: $11,000,000
Date: September, 2021
Round: Seed
Amount raised: $1,200,000
Date: September, 2020