In a major development that is making waves in the crypto world, GRVT— an innovative hybrid exchange powered by ZKsync — is quickly becoming the go-to platform for traders looking for the best of centralized and decentralized finance.
Backed by 16 leading market makers, including industry heavyweights like Galaxy Trading Asia Limited, Ampersan, Amber Group, and Flow Traders, GRVT is securing its place as a liquidity powerhouse. With an impressive monthly trading volume of $3.3 billion, from over 40 institutional clients, the platform has already caught the attention of those who know the market best. And all this is happening ahead of its highly anticipated Mainnet launch in Q4 2024. See what industry leaders are saying about GRVT here.
John Cahill, COO of Galaxy Trading Asia Ltd., said: “Platforms like GRVT are pushing the boundaries with innovative hybrid models that combine the strengths of TradFi and DeFi to provide deep liquidity and the critical infrastructure needed for efficient and secure trading on digital asset options and other derivatives. The commitment of major industry players and the substantial liquidity being channeled into this space underscores the vast opportunities ahead.”
“With the DEX landscape evolving rapidly, competition among some notable players is intensifying. Among the 2024 cohort of new challengers, GRVT stands out as a leader. Their approach is both professional and well-structured, with a strong focus on satisfying both professional and retail traders. We are excited to partner with GRVT and look forward to the significant impact they will have upon launch,” commented Christophe de la Celle, Chief Commercial Officer at Selini Capital.
What sets GRVT apart is not just market makers or volume, but also the platform’s vision: to reimagine the global financial system with blockchain at its core. GRVT solves the problems that CEXs and DEXs have been facing for years.
GRVT aims to address four key issues: CEX default risks, DEX hacking risks and difficult user interface/user experience, and regulatory risks.
Blockchain settlement and margin management eliminate the risk of default, ensuring that control of user funds remains in the hands of the individual. GRVT implements traditional security standards as well as Web3 security features, such as passwords, two-factor authentication, access rights, and whitelisting, to minimize vulnerabilities.
Additionally, GRVT is built on a private chain, further reducing common smart contract risks associated with public chains.
“One of the biggest challenges facing DEXs today is their lack of usability compared to centralized platforms, as users must learn and navigate the native features of the blockchain,” said Hong Yea, the former Goldman Sachs trader who co-founded GRVT. “GRVT aims to simplify this user journey by flattening the learning curve and making the experience as seamless as on traditional Web2 platforms.”
To address these issues, GRVT offers the following features:
- Gasless Deposit: A transparent deposit mechanism that mirrors the user experience on CEXs. This innovative feature simplifies the user experience by removing the need to interact with blockchain transaction fees, making the deposit process as simple and efficient as on traditional centralized platforms.
- Native Wallet: GRVT will launch its native wallet integrated into the signup process, users will not need to hold or register wallets like MetaMask. This simplifies the onboarding process for new traders, allowing even those with limited experience to start trading easily
- Gasless Trading: On GRVT, users have the ability to trade without having to incur gas fees. This means that users can execute trades without incurring the additional costs typically associated with blockchain transactions.
- Sub-Account Trading – This feature allows traders to manage multiple accounts seamlessly, similar to what is typically found on centralized exchanges.
- Instant Finality – While most DEXs take up to 100 milliseconds to finalize transactions, GRVT aims for a transaction finalization time of single digit millisecondThis is crucial for high-frequency traders and those looking for a smooth trading experience.
- Multiple Implementation Options – To improve accessibility, GRVT will offer both decentralized and centralized exchange-style deposit methods. The team is collaborating with XY Finance, a leading cross-chain aggregator operating on over 17 EVM chains, to provide users with an easy-to-use address system that enables seamless transfers from centralized platforms like Binance and Coinbase.
Regarding the fourth major risk identified – regulatory risks – the focus is on two key aspects: ensuring the exchange is compliant to protect users from malicious actors and operating legally without the risk of forced closure by governments. As various jurisdictions move towards clearer regulatory guidelines and frameworks, GRVT recognises that this is the future trend. Therefore, the decision was made to apply for licenses and maintain full compliance from the outset.
GRVT isn’t just offering another exchange, it’s building a financial marketplace that’s accessible to all. Backed by the most respected market makers, ensuring deep liquidity and market stability even in the face of volatility, GRVT is poised to change the game. Starting with a hybrid exchange, the platform’s combination of liquidity, lightning-fast order execution, and tighter spreads promises a level of market efficiency that few can match.
The stage is set, the players are ready, and the market is watching: it’s time to be a part of GRVT’s revolutionary journey before its mainnet launch in Q4. Don’t let this moment pass you by.
GRVT’s open beta testnet is now live, with over 2.5 million users signed up to the waitlist. Join now for rewards from a $2.4 million ZK token pool and 600,000 raffle tickets, register here!
