Today we are going to talk about a project called Gravity, which is actually not very new. It is a chain built by the previous task platform Gal, and is also a project in the field of chain abstraction or cross-chain interoperability. Previously, all GAL coins were exchanged for the G token. So what about the new project? Let’s analyze it today.
background
Galxe is the largest on-chain task distribution platform for Web3. Through its powerful infrastructure and modular AI, digital identity and blockchain technology product suite (Quest, Passport, Score, Compass and Alva), Galxe supports the development of advanced, user-friendly Web3 applications with a focus on secure and autonomous digital identity management. The recently launched Gravity is a layer 1 full chain that leverages Galxe's infrastructure, enabling developers to tap into Galxe's 20 million users and create new products that help bring the world to Web3. Galxe said that over the past three years, its user base and transaction volume have grown exponentially, highlighting the urgent need for more efficient, scalable and secure cross-chain interaction solutions. However, existing solutions fall short in supporting the required complexity and scale, and Gravity is capable of solving these challenges and providing an integrated and simplified experience for developers and users.
Introduction to Gravity
Gravity is a layer1 full-chain settlement layer built for large-scale applications and full-chain abstraction. Gravity's core uses advanced technologies such as zero-knowledge proofs, staking-dependent architectures, and state-of-the-art consensus mechanisms to provide high performance, enhanced security, and transaction cost-effectiveness. Through full-chain abstraction, Gravity isolates technical complexity from end users, prioritizes user-friendliness and seamless experience, and does not expose users to the complexity of on-chain interactions.
To meet the needs of high-throughput applications, Gravity is equipped with a cross-chain settlement protocol designed to maximize its capabilities as a high-performance and fast-finality chain. This protocol allows applications to use Gravity as a settlement layer for executing user intent on any chain. With leading applications such as Smart Savings, this feature shifts the development paradigm from private, unauditable backends to offloading mission-critical transactions to Gravity as an open, code-as-law database.
The first version of the network, built on the Arbitrum Nitro technology stack, was officially launched in June to test cross-chain settlements in an open and transparent manner. The fully functional Gravity mainnet, with native staking and re-staking capabilities, is scheduled to go live in the second quarter of 2025. The Galaxe team said that the reason for creating Gravity was that the platform's user base has grown significantly in the past three years, currently with 20 million users and 100 million transactions per month. This requires a more efficient and scalable solution to manage cross-chain interactions between the 34 blockchains supported by Galxe.
Key Features of Gravity
Cross-chain transactions: Gravity allows developers to define and settle transactions on multiple blockchains, making interactions more efficient and secure.
Efficient Verification: Supporting cost-effective zero-knowledge proof (ZKP) verification, Gravity ensures that transactions are both economical and secure.
Enhanced user experience: By introducing cryptographic primitives such as the secp256r1 curve through precompiled contracts, Gravity supports application scenarios such as low-cost key authentication, thereby improving the user experience, especially for the use of account abstraction wallets.
High-performance execution: Gravity integrates the fastest execution layer Reth and the most advanced consensus algorithm Jolteon. Together, these technologies will provide high throughput and near-instant finality.
Secure and powerful PoS mechanism: Gravity's Proof-of-Stake mechanism will be driven by native staking of the G token and re-staking protocols including Babylon and EigenLayer. This design incentivizes and unites cross-domain communities to jointly ensure the security of the Gravity chain.
EVM Compatibility: Gravity will be fully compatible with the Ethereum Virtual Machine (EVM), enabling developers to seamlessly deploy and interact with smart contracts.
Gravity Use Case Description
Balancing abstraction and benefits: With the rise of cross-chain protocols, Web3 users face increasing challenges in managing their assets seamlessly. Gravity solves this challenge by consolidating balances across all chains and ensuring on-chain settlement and verification of cross-chain transactions, providing a streamlined and borderless experience.
Intention-based trading: Gravity simplifies the complex process of handling infrastructure-level transactions between chains. The system allows for intention-based trading, freeing users from the complexity of the underlying technical mechanisms. For example, with Gravity, developers can create platforms that enable users to buy ETH on any chain with minimal slippage, without having to worry about the underlying liquidity source or how to obtain it.
Gas Abstraction: Gravity improves the user experience by adding support for smart contract wallets, allowing for transaction batching and gas fee sponsorship. This eliminates the need for users to bridge tokens between chains to complete multi-chain transactions, creating a seamless full-chain experience.
Full-chain loyalty points: The existing Galxe Quest loyalty points system will be migrated to Gravity, transferring all loyalty points to the chain. With native features such as permission control, snapshot taking, and point trading, Gravity becomes the base layer of the loyalty points market, supporting fully on-chain tasks.
Token Economy
G is the native token of Gravity and the utility token for both the Gravity and Galxe ecosystems. G powers transactions as the gas token and will soon be used to secure the network through staking. As the primary utility token for both ecosystems, G plays a vital role in governance decisions, incentivizing growth, and facilitating payments.
On July 4, Galxe announced on the X platform that the Galxe (GAL) token will be migrated to Gravity (G) to unify and optimize the experience across the two ecosystems.
G tokens will be the native token of the Gravity Alpha mainnet and will exist as ERC20 tokens on Ethereum, BNB Chain, and Base. The initial total supply is 12,000,000,000.
After the on-chain migration is completed, the user's existing GAL tokens will be destroyed and new G tokens will be sent to their wallets at a ratio of 1:60. If the user does not migrate GAL, they can still keep GAL. However, the existing functions of GAL will be fully transitioned to G.
Currently, the price of G is 0.04 USD, with a market value of 290 million USD. The circulation of the token is 60.27%, while the price of GAL is 2.4 USD, which is exactly 60 times, and the unlocked amount is also 60.27%.
Finally, to summarize this project, according to our previous analysis of GAL, as the leader in task platforms, the release of this chain can only be said to be a positive, because it is indeed a full-chain task platform and there is such a cross-chain demand, so it is very reasonable to build a cross-chain full chain by yourself, and the tokens had no practical use before, but now that the chain is available, the tokens have a use, and can be used for governance, pledge, payment, etc., and the positive impact is all there.
