Singapore, Singapore, October 24th, 2024, Chainwire

Hybrid cryptocurrency exchange GRVT (pronounced “gravity”), which aims to become the “Goldman Sachs on blockchain”, is thrilled to announce its latest partnership with XY Finance, a cross-chain DEX and bridge aggregator, addressing one of the biggest challenges facing crypto traders today: the complexity and cost of moving assets across different chains and exchanges. 

The partnership introduces an innovative cross-chain bridging UX by leveraging XY Finance’s Proxy Bridge, to enable CEX-like, gas-free bridging for DeFi. It allows users to seamlessly deposit funds from a CEX directly into GRVT’s smart contract, with no gas fees and no need for multiple wallet transactions — an industry first for DEXs. 

More importantly, this solution significantly simplifies access for non-crypto native users, who often struggle with the complexities of gas fees, bridging, and related concepts, setting new standards for DeFi and the broader industry.

Watch the video to learn more about how this makes DeFi deposit easy. 

Solving the Biggest Hurdle On-Chain: Cross-Chain Money Moving

As the cryptocurrency landscape continues to expand, traders often face significant friction when attempting to move assets between different exchanges and blockchain ecosystems. According to GRVT’s survey with close to 3,000 community members, three key issues are identified with the DeFi user experience: 

1. Difficulty in moving money on-chain (45%); 
2. Challenging wallet creation and management (20%); 
3. Gas fees are a barrier (15%).

For retail and institutional users alike, these barriers have slowed the adoption of DeFi and made seamless trading a challenge. GRVT and XY Finance are stepping up to eliminate these pain points, bringing a new level of efficiency and ease to the crypto trading experience.

Hong Yea, co-founder and CEO of GRVT, commented, “DeFi adoption remains low, largely because the current landscape requires a steep learning curve, especially for first-time users, with the bridging process being a major pain point. Previously, users had to hold tokens to cover gas fees and complete multiple transactions just to deposit funds into a DEX smart contract. GRVT removes this friction by making these complex DeFi components invisible to the user. Our goal is to bring the benefits of DeFi to a wider audience by simplifying the experience.”

Wei Hsuan Huang, Founder and CEO of xSync Network and XY Finance, highlighted, “With the support of xSync Network’s omnichain infrastructure, XY Finance is enabling seamless, bridging from CEXs and any blockchain directly to GRVT. Together with GRVT, we are committed to eliminating the traditional complexities that have kept new users from fully embracing DeFi, offering a streamlined experience that simplifies cross-chain transactions and accelerates broader adoption.

This partnership marks another significant milestone for GRVT, as it prepares for the Q4 Mainnet launch. GRVT’s Open Beta Testnet is currently live, with more than 2.5 million users registered on waitlist.  

For more information and to join the GRVT community, visit grvt.io.

Disclaimer: Cryptocurrencies carry high risks. This content is not a distribution of, or an offer or solicitation to provide, financial services or products, nor a representation as to their suitability or legality for you. GRVT is not a regulated entity and your funds are not subject to regulatory protection. Before making any decision based on this content, please seek financial and legal advice, and carefully review our [Risk Disclosure and Disclaimer] in full.

Singapore users: GRVT is not licensed, approved, authorised, designated, recognised, registered or otherwise regulated under any legislation administered by the Monetary Authority of Singapore (“MAS”). As such, users will not have the benefit of any regulatory safeguards imposed by the MAS.

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About GRVT

GRVT (pronounced “gravity”) is a hybrid derivatives exchange founded in 2022, offering off-chain order matching and on-chain settlements at an impressive 600,000 TPS. GRVT’s vision is to reinvent the global financial system from its core by leveraging blockchain technology, giving more people the power to generate and fully own their wealth without barriers. With the ambition to build the “Goldman Sachs on blockchain”, GRVT brings institutional expertise to decentralized finance. Our goal is to build an open, scalable marketplace—akin to the “Amazon of DeFi”—where individuals can easily access financial products.

GRVT official website: https://grvt.io/ 

For media inquiries, contact: press@grvt.io 

Social and Community: X | LinkedIn | Telegram | Discord

About XY Finance

XY Finance, powered by omnichain service provider xSync Network, is a leading Cross-Chain DEX and Bridge Aggregator, facilitating over $2 billion in volume across 25+ major blockchains and serving a user base of more than 800k.  XY Finance allows users to bridge and swap any token across multiple chains, offering the best rates and routes. Developers can leverage XY Finance’s bridge & dex aggregator API and widget to expand their projects, seamlessly connecting to all supported chains to drive growth and adoption.

XY Finance Official Website: https://xy.finance/ 

For media inquiries, contact: alina@xy.finance

Social and Community: X | DeBank | Telegram | Discord

Contact

GRVT
press@grvt.io

Singapore, Singapore, October 23rd, 2024, Chainwire

VALR, the Pantera-backed crypto exchange, is proud to announce the launch of VALR’s Futures Trade Arena, a competitive trading hub where traders can vie for weekly and monthly prizes based on their Return on Investment (ROI) and Profit and Loss (PnL) performance. This new initiative, which runs from October 1, 2024, until at least April 30, 2025, levels the playing field by rewarding performance, not just trade size.

The Futures Trade Arena offers up to 120,000 USDT in prizes each month, with prize distribution adjusted by the number of eligible participants. Monthly prizes range from 2,000 USDT to 10,000 USDT for the top traders by ROI and PnL, while weekly prizes range from 25 USDT to 2,880 USDT for the top 10 traders in each category

To be eligible for the Futures Trade Arena, traders must have cumulatively traded at least $2,000 in Futures on any of VALR’s Futures pairs during the 14 days before the start of a Weekly Competition Round. Once the $2,000 trading threshold is met, traders are automatically entered into the next Weekly Competition Round and the corresponding Monthly Competition Round of the same month. This structure ensures that traders of various skill levels can compete, regardless of when they meet the eligibility criteria, and ensures fair competition for rewards based on performance.

Each Monthly Competition Round consists of four consecutive Weekly Rounds. Prizes are awarded for top performers in both ROI percentage terms and absolute USDT-denominated PnL, providing multiple ways for traders to excel. The competition is open to all new and existing fully KYC-verified VALR customers, excluding VALR employees, contractors, and residents of prohibited countries.

This new offering from VALR is designed to allow traders of all sizes and backgrounds to showcase their trading skills, without being overshadowed by those making larger trades. The Futures Trade Arena focuses on rewarding smart, effective trading strategies, with performance-based prizes that create opportunities for all participants.

Ben Caselin, Chief Marketing Officer of VALR, commented on the launch: “The Futures Trade Arena is a game-changer. We’re not just focusing on volume but on rewarding real trading performance. This initiative truly levels the playing field, allowing both professional and retail traders to compete on strategy, not just trade size. It’s all part of our ongoing commitment to building VALR as a global brand that prioritizes fairness and opportunity for all.”

About VALR’s Grand Slam and Futures

The Futures Trade Arena complements VALR’s Grand Slam of Trading Competitions, a global futures trading program that launched in May 2024. The Grand Slam features one of the world’s largest prize pools, with up to 60 million USDT available across a 12-month period. It automatically includes all users trading Perpetual Futures on VALR, with monthly prize pools ranging from 33,000 to 5 million USDT, depending on the total trading volume for the month.

The Grand Slam is designed to attract both professional and retail traders, allowing all participants to benefit from the platform’s growth. This global initiative has garnered significant interest from some of the largest trading firms and highlights VALR’s continued commitment to expanding its footprint in the global crypto space.

About VALR

Founded in 2018, VALR is the largest crypto exchange in Africa by trade volume, serving over 1,100 corporate and institutional clients and more than 950,000 users globally. Headquartered in Johannesburg, VALR is licensed by the Financial Sector Conduct Authority (FSCA) in South Africa and has approvals to offer services in Europe and initial approval from Dubai’s VARA. VALR has raised $55 million in funding from top investors, including Pantera Capital, Coinbase Ventures, GSR, and Avon Ventures, an affiliate of Fidelity Investments.

VALR distinguishes itself through its customer-first philosophy, offering secure, transparent, and innovative solutions for both professional and retail traders. As a leader in the African crypto market, VALR connects global markets, leveraging opportunities in Africa, Asia, Europe, and the world. For more information, visit valr.com.

Contact

VALR
press@valr.com