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Gravity
Gravity is a Layer 1 omnichain smart contract platform that aims to improve cross-chain interactions by enhancing efficiency, scalability, and security. [1]
Overview
Gravity’s integrated solution aims to enhance interactions for users and developers in Web3, while addressing the complexity and scalability required for widespread adoption. Now serving 20 million users and handling 100 million monthly transactions, the platform required a more efficient and scalable solution to manage cross-chain interactions across 34 supported blockchains. [5] It aims to leverage technologies such as Zero-Knowledge Proofs and advanced consensus mechanisms to enhance performance and simplify on-chain complexity. [8]
The platform supports cross-chain transactions and efficient verification, and is a Proof-of-Stake (PoS) blockchain that uses G tokens and is EVM-compatible. It also uses Reth as its execution layer and the Jolteon (AptosBFT) consensus algorithm. [7]
The Alpha Mainnet, on Arbitrum Nitro, launched June 2024, testing cross-chain settlement. By Q2 2025, the full Mainnet will go live as a restaking-powered PoS Layer 1 with Reth as its EVM engine. [6]
Use Cases
Gravity supports various Web3 applications by simplifying processes and enhancing user experiences:[3]
- Balance Abstraction: Consolidates and manages assets across multiple chains.
- Intent-Based Transactions: Facilitates transactions like ETH purchases with minimal slippage.
- Gas Abstraction: Enables transaction batching and gas sponsorships, avoiding the need to bridge tokens.
- Omnichain Loyalty Points: Transforms loyalty points into an on-chain system with features for permission control and trading.
Bridge to Gravity
To start on the Gravity Alpha Mainnet, bridge tokens using the Canonical Bridge or supported third-party options. Bridging from Ethereum Mainnet to Gravity Alpha takes about 10 minutes, while withdrawals to Ethereum require a 7-day wait due to the rollup’s fraud-proof mechanism.[3]
Visit bridge.gravity.xyz, a user needs to connect their wallet, choose Deposit or Withdraw, select and approve the token, then submit. After 10 minutes, switch to the Gravity Alpha Mainnet network to see the tokens.
ETH and G tokens are needed on Ethereum Mainnet to cover transaction costs.
Tokenomics
Gravity token ($G)
The G token is an ERC-20 native utility token for both Gravity and Galxe, functioning as the gas token for transactions and anticipated to secure the network through staking. It is intended to support governance, ecosystem growth, and facilitate payments across both platforms.[3]
Allocation
The G token has a total supply of 12,000,000,000 tokens, distributed as follows:[2]
- Community: 20%
- Team: 15%
- Marketing: 15%
- Growth Backer R1: 10.63%
- Growth Backer R2: 10.14%
- Foundation: 10%
- Advisors & Partners: 6.23%
- Coinlist Public Sale: 5%
- Ecosystem: 4.5%
- Early Adopters Rewards: 2%
- Launchpool: 1.5%
Utility
The G token serves as the native gas token on the Gravity Chain, facilitating transactions. It is intended to support governance through the G DAO, where holders are involved in decision-making. Additionally, G aims to secure the network through staking, with participants potentially earning rewards.
The G token performs several key functions within the Gravity and Galxe ecosystems:[4]
- Staking: Enables network security, governance participation, and access to potential rewards.
- Governance: Facilitates decision-making through the G DAO, aiming for transparency and decentralization.
- Transacting: Acts as the gas token for executing and paying for transactions on the Gravity Chain.
- Payments: Covers fees for Galxe applications, such as Quest, Passport, Score, Alva, and Compass
Gravity
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Edited On
September 25, 2024
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REFERENCES
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