Galxe, web3’s largest onchain distribution platform, announced today the upcoming launch of Gravity, a Layer 1 omnichain smart contract platform designed to transform how users and developers interact with web3. Over the past three years, Galxe’s user base and transaction volume have grown exponentially, highlighting the need for more efficient, scalable, and secure solutions to manage complex cross-chain interactions with minimal friction. Existing solutions fell short in supporting the required complexity and scale, prompting Galxe to develop Gravity. Gravity addresses these challenges, offering an integrated and streamlined experience for both developers and users.
Introducing Gravity
Gravity is an omnichain settlement layer built for mass adoption and full-chain abstraction. Its approach abstracts the technical complexities of chain interactions, integrating advanced technologies like Zero-Knowledge Proofs and state-of-the-art consensus mechanisms to ensure high performance, enhanced security, and cost efficiency.
Key Features of Gravity
Cross-Chain Transactions:
Gravity allows developers to define and settle transactions across multiple blockchains, making interactions more efficient and secure.
Efficient Verification:
Supporting cost-effective ZKP verification, Gravity ensures that transactions are both economical and secure.
Enhanced UX:
Introducing cryptographic primitives like the secp256r1 curve through precompiled contracts, Gravity enables use cases such as cost-effective passkey authentication for Account Abstraction wallets, enhancing user experience.
High-Performance Execution:
Gravity integrates the fastest execution layer, Reth, and the state-of-the-art consensus algorithm Jolteon (AptosBFT). Together, these technologies are set to provide high throughput and near-instant finality.
Secure and Robust PoS Mechanism: Gravity’s Proof-of-Stake will be powered by the combination of G token native staking and restaking protocols including Babylon and EigenLayer. This design incentivizes and unites a cross-spectrum community to collectively safeguard the Gravity chain.
EVM Compatibility:
Gravity will be fully EVM-compatible, allowing developers to deploy and interact with smart contracts seamlessly.
Gravity Rollout
Galxe announces the rollout of Gravity in two key phases. The Gravity Alpha Mainnet, powered by the Arbitrum Nitro stack, will go live in June 2024. The launch of the Alpha Mainnet demonstrates Galxe’s commitment to the highest standards, testing cross-chain settlement in a transparent production environment using a public ledger instead of a centralized backend. In Q2 2025, the Gravity Mainnet will launch, featuring a restaking-powered PoS Layer 1 blockchain with Reth as its EVM execution engine. Stay tuned for the Alpha Mainnet launch in June and more updates as the Gravity rollout progresses.
For more information, users can visit gravity.xyz.
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The crypto market decline has picked up momentum further due to $1.08 billion of liquidations in the last 24 hours, of which $919.54 million are longs. Meanwhile, the crypto futures market’s open interest (OI) has dropped by approximately 15% in the same period.
The significant liquidation of long positions suggests that many traders were overly bullish and heavily leveraged.
When the market moves against these positions, it triggers a cascade of liquidations, exacerbating the downward price movement. This scenario often leads to a rapid decline as stop-losses and margin calls are hit.
Meanwhile, the OI reduction signals a decrease in the number of active futures contracts, indicating that traders are closing their positions and stepping back from the market. Funding rates of most top coins, including Bitcoin and Solana, have dipped into negative territory simultaneously.
This suggests a bearish sentiment among futures traders, as they are willing to pay a premium to maintain their short positions. As shorts dominate the market, negative funding rates can lead to further downward pressure on prices.
#Btc #MarketDownturn
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Bitcoin (BTC) is trading close to the $70,000 mark on Monday, reaching its highest level in six weeks after former US President Donald Trump reiterated his support for crypto over the weekend.
Bitcoin jumped 3.3% to change hands at around $69,800 at the time of writing.
Former U.S. President Donald Trump further voiced his support for crypto in a Saturday speech at the Bitcoin 2024 conference in Nashville

Lista DAO is a liquidity protocol that runs on the BNB Chain and offers the possibility to earn income by collateralizing crypto assets and borrow the decentralized stablecoin lisUSD. Adopting and extending the MakerDAO model, Lista DAO allows users to borrow and yield farm (liquidity mining) by collateralizing their assets.
This protocol uses a dual token model:
lisUSD and LISTA. lisUSD functions as a stablecoin, while LISTA, as a governance token, enables participation in decision-making processes in the protocol. Users can vote on important decisions in the protocol through LISTA tokens.
Interesting Features of Lista DAO
Lista DAO offers an innovative solution to the challenges faced by stablecoin protocols. It combines liquidity staking, the MakerDAO model and liquidity pools on DEXs, striking a balance between traditional fully collateralized models and fully algorithmic models. This minimizes issues such as frozen funds in fiat-backed stablecoins and price instability in algorithmic models. The collateral debt position (CDP) model allows users to use their assets more efficiently.
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This model allows users to borrow against their collateralized assets and generate additional income. These features are one of the reasons why Lista DAO is preferred among users. In addition, the fact that Lista DAO operates on the principle of complete decentralization gains the trust of users. The protocol is built on fully decentralized assets and offers modern DeFi features such as liquidity staking. This helps Lista DAO stand out from other protocols and take a leading role in the DeFi space.
The Future of Lista DAO
Lista DAO aims to be a long-term player in the DeFi ecosystem. The protocol aims to popularize the lisUSD destablecoin using Proof-of-Stake (PoS) rewards and return-generating assets. To this end, it has plans to increase its capacity to provide liquidity, support new assets and integrate with other blockchain ecosystems. Holders of the governance token LISTA can vote for innovations and improvements to the protocol, which allows the ecosystem to develop in a community-driven way.
This governance approach will play a critical role in the future success of Lista DAO. The sustainable growth of the protocol and the active participation of users will contribute to the permanence of Lista DAO in the DeFi ecosystem. For this reason, the future of Lista DAO looks bright and should be closely monitored by crypto investors. The protocol’s innovative approach and expansion strategies will give it a stronger position compared to other projects in the DeFi ecosystem.
@ListaDAO - #ListaNewEra
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