Gravitoken

World’s First Regulated DEX, Backed by 55 InstitutionsIn a significant development for decentralized finance (DeFi), <a href="https://grvt.io/" rel="noopener noreferrer nofollow">GRVT</a> (pronounced “gravity”), today announced the official launch of its <a href="https://grvt.io/exchange/perpetual" rel="noopener noreferrer nofollow">Mainnet Alpha</a>. GRVT is the <a href="https://grvt.io/blog/grvt-secures-bermuda-license-world-first-regulated-dex/" rel="noopener noreferrer nofollow">world’s first regulated decentralized exchange</a> (DEX) that also operates as a self-custodial centralized exchange (CEX), merging the best of both worlds for a secure, compliant, and user-driven trading experience.In the first hour of the Alpha phase, GRVT hit a record-breaking trading volume of over $15 million, with over $8.7 million in BTC trades and $6.4 million in ETH trades. A broader range of trading pairs, product features, and rewards will be introduced in the coming weeks. For additional information and updates, visit <a href="https://grvt.io/exchange/product-features-and-requests" rel="noopener noreferrer nofollow">this page</a>.The inaugural batch of institutions trading on GRVT includes: QCP, Galaxy Trading Asia Limited., Ampersan, Arbelos, Amber Group, IMC, Flow Traders, Pulsar, Selini, and more.To date, nearly 30,000 KYC-verified users are already registered on GRVT, signaling a strong initial user base poised for substantial trading activity—a figure notably higher than that of other industry players at their initial launch.Users can also start <a href="https://blog.xy.finance/xy-finance-proxy-bridge-is-live-on-grvt/" rel="noopener noreferrer nofollow">seamlessly transferring assets</a> between GRVT and CEX accounts or crypto wallets through <a href="https://docs.xy.finance/products/proxy-bridge" rel="noopener noreferrer nofollow">Proxy Bridge</a> now, an innovative solution designed to make cross-chain transfer effortlessly by <a href="https://xy.finance/" rel="noopener noreferrer nofollow">XY Finance</a>, a leading cross-chain DEX and bridge aggregator.GRVT has coined many industry firsts, challenging conventional TradFi and DeFi structures and reshaping expectations of what’s possible in the blockchain space for finance.Key highlights include <a href="https://grvt.io/blog/grvt-secures-bermuda-license-world-first-regulated-dex/" rel="noopener noreferrer nofollow">obtaining the Class M Digital Asset Business License</a> from the Bermuda Monetary Authority (BMA), securing contractual commitment of a <a href="https://grvt.io/blog/grvt-marketmakers-3-3billion/" rel="noopener noreferrer nofollow">monthly trading volume</a> of $4.2 billion from 55 institutional clients and 17 market makers, and being the first to introduce <a href="https://grvt.io/blog/grvt-launches-gas-free-bridging-for-defi/" rel="noopener noreferrer nofollow">gas-free cross-chain transactions</a> from a CEX to a DEX.Hong Yea, Co-founder and CEO of GRVT, said. “Today marks a historic day for GRVT. We’ve built the world’s first compliant, licensed blockchain-settled exchange, and are pioneering the building of the CeDeFi world. Our vision has always been to redesign and rebuild the global financial system on blockchain, though it’s been a challenging journey. This milestone wouldn’t have been possible without the unwavering support and dedication of our team, our trusted partners, and the retail users who have put their faith in what we’re building.”GRVT is built as a validium ZK Chain and is part of the Elastic Network powered by <a href="https://zksync.io/" rel="noopener noreferrer nofollow">ZKsync</a>. The validium ZK Chain is an L2 blockchain solution designed to scale Ethereum while maintaining data privacy, enabling GRVT to effectively scale the network while also enhancing interoperability capabilities. ZKsync’s technology gives customizability and provides an avenue for innovative financial products while ensuring regulatory compliance, privacy, and security. Furthermore, ZKsync acting as the underlying infrastructure for GRVT is demonstrative of the fact that ZKsync is the premier blockchain for institutional-grade, on-chain finance.Alex Gluchowski, Co-Inventor of ZKsync, said “It is great to see innovative and regulated DEXs like GRVT successfully launch utilizing ZKsync’s technology and joining the Elastic Network. GRVT’s innovative approach to on-chain finance and status as the world’s first regulated DEX exemplifies the ability of ZKsync’s scalable and compliant infrastructure to empower evolving financial applications within the Ethereum ecosystem. ZKsync is building Web3 without compromise.”“This is just the very beginning of our envisioned future, and we look forward to bringing even more exciting developments in the journey ahead,” Hong added.For more information and to join the GRVT community, visit grvt.io.Disclaimer: Cryptocurrencies carry high risks. This content is not a distribution of, or an offer or solicitation to provide, financial services or products, nor a representation as to their suitability or legality for you. GRVT is not a regulated entity and your funds are not subject to regulatory protection. Before making any decision based on this content, please seek financial and legal advice, and carefully review our [Risk Disclosure and Disclaimer] in full.Singapore users: GRVT is not licensed, approved, authorised, designated, recognised, registered or otherwise regulated under any legislation administered by the Monetary Authority of Singapore (“MAS”). As such, users will not have the benefit of any regulatory safeguards imposed by the MAS.GRVT International Limited (“GIL”), is an exempted company limited by shares incorporated in Bermuda and holds a class M digital asset business licence issued by the Bermuda Monetary Authority under the Digital Asset Business Act 2018 (as amended), has not yet commenced operation. GIL will formally launch once it has satisfied all pre-operational conditions required by the Bermuda Monetary Authority.###About GRVTGRVT (pronounced “gravity”) is the world’s <a href="https://grvt.io/blog/grvt-secures-bermuda-license-world-first-regulated-dex/" rel="noopener noreferrer nofollow">first regulated DEX</a>. Founded in 2022, it operates as a hybrid derivatives platform, offering off-chain order matching and on-chain settlements at an impressive 600,000 TPS. GRVT’s vision is to redesign the global financial system from its core by leveraging blockchain technology, giving more people the power to generate and fully own their wealth without barriers. With the ambition to build the “Goldman Sachs on blockchain”, GRVT brings institutional expertise to decentralized finance. Our goal is to build an open, scalable financial marketplace, where individuals can easily access financial products.GRVT official website: <a href="https://grvt.io/" rel="noopener noreferrer nofollow">https://grvt.io/</a>Social and Community: <a href="https://x.com/grvt_io" rel="noopener noreferrer nofollow">X</a> | <a href="https://www.linkedin.com/company/grvt/" rel="noopener noreferrer nofollow">LinkedIn</a> | Telegram | <a href="https://discord.com/invite/3jsVPwaGeB" rel="noopener noreferrer nofollow">Discord</a>Disclaimer: Any information written in this press release does not constitute investment advice. Optimisus does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Optimisus is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release.

GRVT Mainnet Alpha Goes Live, First Hour Trading Volume Hits $15 Million

Optimisus

Other articles published on Dec 21, 2024

Pro-XRP lawyer says Elon Musk D.O.G.E. department is necessary, in a new war with SEC’s lawyers

Crypto Hacks Are Growing: Why Thieves Keep Winning

Bitcoin Mining Meets Sustainability: Marathon Digital's Finnish Breakthrough

Solana Price Prediction: Lunex Gains Momentum as Solana Sets Ambitious Price Goals

Joe Biden Administration in the US Prepares to Make a Move Concerning Bitcoin Before Leaving

XRP Price Crash: Analysts Warn of Further Downward Movement

Join our free newsletter for daily crypto updates!