Background, everyone should understand it well. Here I will show you with pictures to make it more concise: the project itself is also the leading task platform galxe project newly launched, so please see the picture
In fact, it’s not unfamiliar. This is a project in the field of chain abstraction or cross-chain interoperability, which is the chain that GAL made before. All GAL coins were exchanged for the G token. I have explained its function and the rights of holding the G coin in detail in the previous article. You can take a closer look at the research.
Let's take a look at Gravity. The introduction is as shown below.
I think the most important and core features are: cross-chain transactions, efficient verification, enhanced user experience and high-performance execution!
And the actual application is important. We found that with the rise of cross-chain multi-chain protocols, Web3 users face increasing challenges in seamlessly managing assets. Gravity solves this challenge by integrating balances on all chains and ensuring the settlement and verification of cross-chain transactions on the chain, providing a streamlined and unbounded experience. Intent-based transactions: Gravity simplifies the complex process of handling infrastructure-level transactions between chains. The system allows for intent-based transactions, freeing users from the complexity of the underlying technical mechanisms. For example, with Gravity, developers can create platforms that enable users to buy ETH on any chain with minimal slippage without worrying about the source of underlying liquidity or how to obtain it. Gas abstraction: By adding support for smart contract wallets, Gravity improves the user experience, allowing transaction batching and gas fee sponsorship. This eliminates the need for users to bridge tokens between chains to complete multi-chain transactions, creating a seamless full-chain experience. Full-chain loyalty points: The existing Galxe Quest loyalty points system will be migrated to Gravity, transferring all loyalty points to the chain. With native features such as permission control, snapshot taking, and points trading, Gravity becomes the base layer of the loyalty points market, supporting fully on-chain tasks.
Then the key point is also the most concerned issue in the secondary trading market. Some friends asked me whether G tokens can be purchased. Please listen to me and you will know: G is the native token of Gravity and the utility token of the Gravity and Galxe ecosystems. G supports transactions as a gas token and will soon protect the network through staking. As the main utility token of the two ecosystems, G plays a vital role in governance decisions, incentivizing growth, and facilitating payments. On July 4, Galxe posted on the X platform that the Galxe (GAL) token will be migrated to Gravity (G) to unify and optimize the experience across the two ecosystems. The G token will be the native token of the Gravity Alpha mainnet and exist as an ERC20 token on Ethereum, BNB Chain, and Base. The initial total supply is 12,000,000,000. After the on-chain migration is completed, the user's existing GAL tokens will be destroyed and new G tokens will be sent to their wallets at a ratio of 1:60. If the user does not migrate GAL, GAL can still be retained. However, the existing functions of GAL will be fully transitioned to G. Currently, the price of G is 0.04 USD, with a market value of 290 million USD. The circulation of the token is 60.27%, while the price of GAL is 2.4 USD, which is exactly 60 times, and the unlocked amount is also 60.27%.
Finally, to summarize this project, GAL is the leader in task platforms. The launch of this chain can only be said to be a positive thing, because it is indeed a full-chain task platform. There is such a cross-chain demand, so it is very reasonable to make a cross-chain full chain by yourself. Moreover, the tokens had no practical use before, but now that the chain is established, the tokens have a use, which can be used for governance, pledge, payment, etc. (these are all the functions and rights of holding G tokens). At present, as long as there is a positive impact on the popularity, it will be fine.
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