Quicktake:

• Galxe unveils its own layer-1 blockchain, Gravity.
• Gravity’s initial version launches in June; full version with staking by Q2 2025.
• Built on Arbitrum Nitro, aiming for enhanced scalability and efficiency.
• New native token ‘G’ to replace existing GAL token.
• Integration with Ethereum’s security through EigenLayer and Babylon.

AUSTIN, TEXAS – Web3 infrastructure pioneer Galxe (GAL) is making significant strides in the blockchain landscape with the announcement of its own layer-1 smart contract platform, Gravity. This development marks a major step for the digital credential network, as it plans to transition all its products to this new blockchain.

Gravity is set to debut its first iteration in June, utilizing the Arbitrum Nitro tech stack to facilitate cross-chain settlements transparently. This initial phase is crucial for testing the network’s capabilities in a public environment. The complete version, known as the Gravity Mainnet, is expected to be fully operational by the second quarter of 2025, featuring native staking and restaking functionalities.

The motivation behind Gravity’s creation stems from Galxe’s rapid user base expansion over the past three years. With a current user count of 20 million and monthly transactions exceeding 100 million, the existing solutions were inadequate to support the complexity and scale required for efficient cross-chain interactions. Galxe’s platform currently supports 34 blockchains, necessitating a more robust infrastructure.

“Existing solutions fell short in supporting the required complexity and scale, prompting Galxe to develop Gravity,” the team explained in a statement. The new blockchain is designed to address these limitations, providing a more scalable and efficient platform for its growing ecosystem.

Gravity will operate as a proof-of-stake blockchain, leveraging the security of the Ethereum network through restaking mechanisms via EigenLayer and Babylon. This dual support enhances the network’s security and robustness. Additionally, Gravity introduces a new native token, ‘G,’ which will replace the existing GAL token. The migration of the GAL token contract to the new token has already received approval from Galxe’s decentralized autonomous organization (DAO).

In terms of technology, Gravity will incorporate Reth as its execution layer and the Jolteon (AptosBFT) consensus algorithm to ensure near-instant transaction finality and high throughput. This combination aims to deliver a seamless and efficient blockchain experience. Moreover, Gravity will maintain compatibility with the Ethereum Virtual Machine (EVM), ensuring interoperability with Ethereum-based applications.

A notable migration within this transition is the Galxe Passport, which currently has nearly 1 million users. This digital identity solution will move from the BNB Chain to Gravity. Similarly, the Galxe Score contract, which plays a crucial role in user reputation and credentialing, will migrate from Polygon to the new chain. These migrations are strategic moves to consolidate Galxe’s operations under the Gravity blockchain, enhancing performance and user experience.

The development of Gravity is a testament to Galxe’s commitment to innovation and its proactive approach to addressing the challenges of scale and complexity in the Web3 space. By building its own blockchain, Galxe not only aims to improve its infrastructure but also to set a new standard for digital identity and credential networks.

The introduction of Gravity is expected to bring several benefits to the Galxe ecosystem. Firstly, it will streamline cross-chain interactions, making them more efficient and transparent. This is particularly important for Galxe, which supports a diverse range of blockchains. Secondly, the new proof-of-stake model will enhance the network’s security and sustainability. By integrating with Ethereum’s security through EigenLayer and Babylon, Gravity will offer robust protection against potential threats.

Furthermore, the new native token, ‘G,’ is designed to better align with the network’s evolving needs. This token will play a central role in the staking and governance mechanisms, empowering users to actively participate in the network’s decision-making processes. The transition from the GAL token to ‘G’ is a critical step in this evolution, ensuring that the tokenomics are optimized for the new blockchain environment.

The migration of key products like Galxe Passport and Galxe Score to Gravity also signifies a consolidation of resources and capabilities. This move is expected to enhance the performance and reliability of these services, providing users with a seamless and integrated experience. The compatibility with the Ethereum Virtual Machine further ensures that developers can easily build and deploy applications on Gravity, leveraging existing Ethereum tools and infrastructure.

In conclusion, Galxe’s launch of the Gravity blockchain represents a significant milestone in the Web3 landscape. By developing its own layer-1 platform, Galxe is addressing the limitations of existing solutions and paving the way for a more scalable and efficient future. As Gravity rolls out its initial version in June and progresses towards its full launch in 2025, the Web3 community will be watching closely to see how this innovative blockchain transforms digital identity and credentialing. With its robust technology stack, strategic migrations, and new native token, Gravity is poised to make a substantial impact on the blockchain ecosystem.