AUSTIN,
TEXAS
–
Web3
infrastructure
and
digital
credential
network
Galxe
(GAL)
said
Wednesday
that
it
is
crafting
its
own
layer-1
smart
contract
platform
called
Gravity
and
will
migrate
all
its
products
to
the
new
blockchain.
The
first
version
of
the
network,
built
on
the
Arbitrum
Nitro
tech
stack,
will
start
in
June
to
test
cross-chain
settlements
in
a
publicly
transparent
manner.
The
full-fledged
Gravity
Mainnet
with
native
staking
and
restaking
aims
to
go
live
in
the
second
quarter
of
2025.
The
reason
for
creating
Gravity,
said
the
Galaxe
team,
is
that
the
platform’s
user
base
has
significantly
grown
over
the
past
three
years,
now
counting
20
million
users
and
100
million
monthly
transactions.
This
required
a
more
efficient
and
scalable
solution
to
manage
cross-chain
interactions
between
34
blockchains
that
Galxe
supports.
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“Existing
solutions
fell
short
in
supporting
the
required
complexity
and
scale,
prompting
Galxe
to
develop
Gravity,”
the
team
said
in
a
statement.
Gravity
will
be
a
proof-of-stake
blockchain,
simultaneously
supporting
restaking
via
EigenLayer
and
Babylon
to
leverage
the
Ethereum
network’s
security.
The
chain
also
gets
a
new
native
token
G,
with
the
existing
token
GAL’s
contract
migration
already
approved
by
the
platform’s
decentralized
autonomous
organization.
The
network
will
use
Reth
as
execution
layer
and
consensus
algorithm
Jolteon
(AptosBFT)
for
near-instant
transaction
finality
and
high
throughput,
the
team
said.
It
will
also
be
compatible
with
the
Ethereum
Virtual
Machine
(EVM).
