Hybrid cryptocurrency exchange GRVT (pronounced “gravity”) is setting a new standard in decentralized finance (DeFi) by launching a groundbreaking partnership with XY Finance, a cross-chain decentralized exchange (DEX) and bridge aggregator. This collaboration seeks to eliminate one of the most challenging barriers in crypto trading: the complexity and cost of moving assets across different blockchain ecosystems. By leveraging XY Finance’s innovative Proxy Bridge technology, GRVT now offers a gas-free, seamless cross-chain bridging experience—an industry first for decentralized exchanges.
Simplifying DeFi for Non-Crypto Natives
In the traditional DeFi ecosystem, users typically face the hurdle of paying gas fees and managing multiple wallet transactions when transferring assets between centralized exchanges (CEXs) and decentralized platforms. GRVT’s latest innovation, developed in partnership with XY Finance, allows users to deposit funds directly from a CEX into GRVT’s smart contract without paying gas fees and without the hassle of managing multiple wallets.
This user-friendly approach aims to significantly lower the barrier to entry for non-crypto natives—those unfamiliar with the complexities of blockchain technology—by simplifying the deposit process and making it as straightforward as possible. Users can now transfer funds with ease, mimicking the convenience of a CEX while taking advantage of the decentralized nature of DeFi.
Hong Yea, co-founder and CEO of GRVT, commented, “DeFi adoption remains low, largely because the current landscape requires a steep learning curve, especially for first-time users, with the bridging process being a major pain point. Previously, users had to hold tokens to cover gas fees and complete multiple transactions just to deposit funds into a DEX smart contract. GRVT removes this friction by making these complex DeFi components invisible to the user. Our goal is to bring the benefits of DeFi to a wider audience by simplifying the experience.”
Addressing the Biggest On-Chain Challenge
The cryptocurrency market has grown rapidly, but the friction involved in transferring assets between various blockchain networks remains a significant challenge for traders. According to a recent survey conducted by GRVT with nearly 3,000 community members, users identified three key issues:
- Difficulty in moving money on-chain (45%)
- Challenges in wallet creation and management (20%)
- Gas fees as a barrier (15%)
Both retail and institutional investors often encounter these obstacles, slowing the broader adoption of DeFi and limiting access to seamless trading. The GRVT-XY Finance partnership directly addresses these concerns by introducing a streamlined cross-chain experience. GRVT now eliminates the need for users to hold tokens for gas fees, as well as the necessity for multiple transactions to complete deposits into a DEX smart contract.
Wei Hsuan Huang, Founder and CEO of xSync Network and XY Finance, highlighted, “With the support of xSync Network’s omnichain infrastructure, XY Finance is enabling seamless, bridging from CEXs and any blockchain directly to GRVT. Together with GRVT, we are committed to eliminating the traditional complexities that have kept new users from fully embracing DeFi, offering a streamlined experience that simplifies cross-chain transactions and accelerates broader adoption.”
Paving the Way for DeFi’s Future
As DeFi continues to evolve, its success hinges on making platforms accessible to a broader audience. The GRVT and XY Finance partnership is a crucial step in this direction, with a particular focus on providing a CEX-like user experience within DeFi. This will not only cater to seasoned traders but also attract new entrants, including non-crypto natives, who have previously been deterred by the technical complexity and high costs associated with gas fees.
This partnership comes at a pivotal time for GRVT, which is gearing up for its highly anticipated Mainnet launch in Q4 2024. The exchange has already garnered significant attention, with over 2.5 million users registered on its waitlist. The launch of gas-free bridging is expected to be a key differentiator, positioning GRVT as a leading player in the DeFi space.
Currently in its Open Beta Testnet phase, GRVT is laying the groundwork for a robust hybrid exchange that combines the best of centralized and decentralized systems. With off-chain order matching and on-chain settlement capabilities at an impressive rate of 600,000 transactions per second (TPS), GRVT is setting itself apart by blending institutional-grade infrastructure with the decentralized ethos of blockchain.
Founded in 2022, GRVT aims to become the “Goldman Sachs on blockchain,” providing a hybrid derivatives exchange that merges off-chain and on-chain operations to create a scalable, open financial marketplace. By leveraging blockchain technology, GRVT seeks to empower users to fully control and grow their wealth without the traditional barriers of centralized finance.
XY Finance is a leading cross-chain DEX and bridge aggregator powered by xSync Network’s omnichain infrastructure. With over $2 billion in volume traded across 25+ major blockchains, XY Finance allows users to bridge and swap tokens across multiple chains, offering some of the best rates and routes in the industry. The platform’s bridge and DEX aggregator API and widget enable developers to seamlessly integrate cross-chain functionality into their projects, driving adoption and growth.
The partnership between GRVT and XY Finance is poised to redefine the cross-chain trading experience by eliminating gas fees and streamlining the user experience for non-crypto natives. As DeFi continues to grow, this innovation could serve as a blueprint for making decentralized finance more accessible, accelerating its adoption on a global scale. With its upcoming Mainnet launch and groundbreaking features, GRVT is well-positioned to become a major force in the DeFi ecosystem.
