Singapore, Singapore, October 24th, 2024,
Chainwire
Hybrid cryptocurrency exchange GRVT (pronounced
“gravity”), which aims to become the “Goldman Sachs on blockchain”,
is thrilled to announce its latest partnership with XY
Finance, a cross-chain DEX and bridge aggregator, addressing
one of the biggest challenges facing crypto traders today: the
complexity and cost of moving assets across different chains and
exchanges.
The partnership introduces an innovative cross-chain
bridging UX by leveraging XY Finance’s Proxy Bridge, to enable
CEX-like, gas-free bridging for DeFi. It allows users to seamlessly
deposit funds from a CEX directly into GRVT’s smart contract, with
no gas fees and no need for multiple wallet transactions — an
industry first for DEXs.
More importantly, this solution significantly simplifies access
for non-crypto native users, who often struggle with the
complexities of gas fees, bridging, and related concepts, setting
new standards for DeFi and the broader industry.
Watch the video to learn more
about how this makes DeFi deposit easy.
Solving the Biggest Hurdle On-Chain: Cross-Chain Money
Moving
As the cryptocurrency landscape continues to expand, traders
often face significant friction when attempting to move assets
between different exchanges and blockchain ecosystems. According to
GRVT’s survey with close to 3,000 community members, three key
issues are identified with the DeFi user experience:
- Difficulty in moving money on-chain (45%);
- Challenging wallet creation and management (20%);
- Gas fees are a barrier (15%).
For retail and institutional users alike, these barriers have
slowed the adoption of DeFi and made seamless trading a challenge.
GRVT and XY Finance are stepping up to eliminate these pain points,
bringing a new level of efficiency and ease to the crypto trading
experience.
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.”
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.
This partnership marks another significant milestone for GRVT,
as it prepares for the Q4 Mainnet launch. GRVT’s Open Beta Testnet
is currently live, with more than 2.5 million users registered on
waitlist.
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.
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About GRVT
GRVT (pronounced “gravity”) is a hybrid derivatives exchange
founded in 2022, offering off-chain order matching and on-chain
settlements at an impressive 600,000 TPS. GRVT’s vision is to
reinvent 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 marketplace—akin to the “Amazon of DeFi”—where individuals
can easily access financial products.
GRVT official website: https://grvt.io/
For media inquiries, contact: press@grvt.io
Social and Community: X | LinkedIn | Telegram | Discord
About XY Finance
XY Finance, powered by omnichain service provider xSync Network,
is a leading Cross-Chain DEX and Bridge Aggregator, facilitating
over $2 billion in volume across 25+ major blockchains and serving
a user base of more than 800k. XY Finance allows users to
bridge and swap any token across multiple chains, offering the best
rates and routes. Developers can leverage XY Finance's bridge &
dex aggregator API and widget to expand their projects, seamlessly
connecting to all supported chains to drive growth and
adoption.
XY Finance Official Website: https://xy.finance/
For media inquiries, contact: alina@xy.finance
Social and Community: X | DeBank | Telegram | Discord
Contact
GRVT
press@grvt.io