Gelato Network: World-class user experience on Flow EVM

Introduction

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Gelato Network is the latest of many multi-chain projects to expand their services to Flow EVM! 

It is a Rollup-as-a-Service (RaaS) platform that offers tools for easily deploying, hosting, and managing Ethereum rollup chains. Gelato Network offers zero-knowledge & optimistic rollups that aim to boost scalability and slash costs!

Specifically, Gelato has integrated their Relay product with Flow EVM, providing developers with powerful tools to create world-class user experiences on the Flow blockchain.

What does Gelato Network do?

Gelato Network is a Rollup-as-a-Service (RaaS) platform designed to streamline the deployment, hosting, and management of Ethereum rollup chains efficiently.

Gelato Network RaaS integrates seamlessly with Gelato’s Web3 middleware services such as:

- Automation
- Off-Chain Data
- Account Abstraction

Gelato’s RaaS platform integrates seamlessly with a suite of Web3 middleware services, enhancing the user and developer experience like:

- Etherscan
- The Graph
- LayerZero

One of their core services is Gelato Relay. This is what has launched on Flow EVM!

What is Gelato Relay?

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Gelato Relay is infrastructure that enables devs to get transactions validated fast, reliably and securely.

It supports 17 EVM networks including Flow EVM!

Here's how it works:

1. Users sign a message off-chain to interact with your Web3 app. This message gets forwarded to Gelato Relayer via a simple API call

2. Gelato submits the corresponding transaction to the respective blockchain and pays for the gas

What Projects are using Gelato Relay?

Here is a snapshot of some of the projects building on Gelato Relay. You can see some notable names like Pudgy Penguins!

Like Flow, Gelato Relay is scalable and can power apps with 1,000,000 users!

What does this mean for Flow EVM?

Gelato Relay enables Flow developers to integrate gasless transactions for users, leading to best-in-class experiences!

Founding Team

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Founded in 2019, Gelato Network’s rapid success and global impact on the cryptocurrency space are a testament to the vision and drive of its founders:

- Hilmar Maximilian Orth
- Luis Schliesske

As of this writing, Gelato Network’s Web3 services and Ethereum rollup have executed over 17,228,014 transactions across 35 networks, including:

- Arbitrum's Orbit
- Optimism's Stack
- 0xPolygon's CDK
- CelestiaOrg
- And more!
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Partnership and Investors

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On October 18, Gelato Network announced its service expansion to Flow Blockchain, allowing Flow developers to create best-in-class UX experiences. This partnership integrates Gelato Network relay with Flow Blockchain EVM, allowing users to enjoy gasless transactions.

Gelato Network has raised significant funding from top investors since it launched, including:

- $1.2 million Seed round in September 2020 from IOSG Ventures and Galaxy Digital
- $11 million Series A in September 2021, led by Dragonfly Capital
- Undisclosed financing round in January 2024
- $5 million raised in a whitelisted token sale on September 13, 2021

Source: Pitchbook, Crunchbase

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Community Engagement and Growth

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Gelato has built a strong social media presence, with a significant following of 71.7K on X and an active community of 14,102 members on Discord.

The project has a token, $GEL. As of 25th October this token had a $31.4m market cap and $62.8m FDV. The token is not native to Flow blockchain network.

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Conclusion

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Gelato Network has become one of the leaders in Web3 infrastructure, making it easy to deploy Ethereum rollups. By using a modular design that combines zero-knowledge and optimistic rollups, Gelato can easily provide scalable and low-cost solutions for applications like DeFi and on-chain gaming. With its recent expansion to the Flow blockchain, Gelato gives Flow developers the ability to offer seamless, gasless transactions and improve user experiences through integrated Web3 tools.