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Absolutely possible !!!
It's not prettly sure to say if there is any backward compatibility issue OR what exactly to do when you migrate your application. An easy way to know the impacts is to build your application with GateIn 3.5 version and see if there are any failures.
What I can be sure is that it should be easy to migrate code changes of your application if any. AND the important thing is that you don't have to care about data migration because it was taken care in GateIn services themeselves