Cryptocurrencies

ZKsync-Powered GRVT’s Highly Anticipated Open Beta Launches Today

Singapore, August 5th, 2024 – Chainwire

Hybrid cryptocurrency exchange GRVT (pronounced “gravity”) has launched its Open Beta Testnet today, marking a significant milestone as ZKsync’s first official Validium ZK Chain. Following months of anticipation, the exchange now opens its innovative features to 2.5 million waitlisted testers.

GRVT combines the advantages of centralized exchanges (CEXs) and decentralized exchanges (DEXs), providing users with self-custody of their assets. The platform boasts off-chain order matching paired with on-chain settlements, achieving an impressive capability of 600,000 transactions per second (TPS). This unique framework allows for the rapid processing of transactions off-chain while ensuring that all asset settlements are securely verified on the blockchain.

To celebrate the launch of the Open Beta Testnet, GRVT is offering exclusive incentives to early users:

  • The first 30,000 users who complete the KYC verification can compete for a share of 2.4 million $ZK tokens and 600,000 raffle tickets.
  • Raffle tickets can be claimed immediately following verification.
  • To obtain $ZK tokens, participation is required on the Mainnet’s first day, with further details regarding the Mainnet to be announced later.

“GRVT aspires to revolutionize financial markets through the integration of blockchain technology and self-custody solutions in both traditional and decentralized finance,” stated Hong Yea, Co-Founder and CEO of GRVT. “We are excited to open our platform to the public and believe that by combining blockchain settlement with centralized order book infrastructure, GRVT is set to transform trading and investment while maintaining traditional security measures. This approach, beginning in the crypto space, has the potential to redefine the broader financial landscape.”

GRVT’s development is supported by Matter Labs, the creators of ZKsync, as well as notable partnerships with leading industry investors.

About GRVT

Founded in 2022, GRVT (pronounced “gravity”) is a hybrid derivatives exchange that facilitates off-chain order matching and on-chain settlements at 600,000 TPS. As ZKsync’s first official Validium ZK Chain, GRVT’s mission is to democratize the financial market by offering secure, self-custodial solutions and providing a safe, efficient, and accessible trading environment for all.

For media inquiries, please contact Reed Li at [email protected].

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