On the morning of May 30, the Web3 Galxe community building project revealed that they are building a smart contract platform to synchronize all of their products to the new blockchain.

The first version of the network, built on the Arbitrum Nitro technology platform, will begin testing public cross-chain payments operations in June.

Gravity Mainnet will include staking and restaking features, expected to go into operation in the second quarter of 2025.

Accordingly, the Galxe development team said the reason Gravity was born is because the platform's user base has increased significantly over the past three years, currently possessing 20 million users and 100 million monthly transactions. This requires a more efficient and scalable solution to manage cross-chain interactions between the 34 blockchain networks that Galxe is supporting.

Gravity is designed as a proof-of-stake blockchain network, and supports staking through EigenLayer and Babylon to leverage the security of the Ethereum network.

The project team says the network will use Reth as the execution layer and the Jolteon (AptosBFT) consensus algorithm to achieve near-instant transaction results with high throughput. Gravity will also be compatible with EVM.

GAL price is currently trading around 3.9 USD, down about 4% compared to 1 day ago. #gal