According to CoinDesk, Galxe (GAL), a Web3 infrastructure and digital credential network, announced on Wednesday that it is developing its own layer-1 smart contract platform named Gravity. The company plans to migrate all its products to this new blockchain. The initial version of the network, constructed on the Arbitrum Nitro tech stack, is set to launch in June for testing cross-chain settlements in a publicly transparent way. The fully developed Gravity Mainnet, featuring native staking and restaking, is expected to go live in the second quarter of 2025.
The decision to create Gravity was driven by the significant growth of Galxe's user base over the past three years, which now includes 20 million users and 100 million monthly transactions. This growth necessitated a more efficient and scalable solution to manage cross-chain interactions among the 34 blockchains that Galxe supports. The team stated that existing solutions were inadequate in supporting the required complexity and scale, leading to the development of Gravity.
Gravity will function as a proof-of-stake blockchain, supporting restaking through EigenLayer and Babylon to utilize the security of the Ethereum network. The chain will also introduce a new native token, G, with the migration of the existing token GAL's contract already approved by the platform's decentralized autonomous organization.
The network will employ Reth as the execution layer and the Jolteon (AptosBFT) consensus algorithm for near-instant transaction finality and high throughput. It will also be compatible with the Ethereum Virtual Machine (EVM). Galxe Passport, which has nearly 1 million users, will be transferred from BNB Chain to Gravity, while the Galxe Score contract will migrate from Polygon to the new chain.
Davin
Catherine
Coindesk