GRVT And XY Finance Launch Gas-Free Bridging For DeFi, Transforming Cross-Chain Transactions For Non-Crypto Natives
In Brief
GRVT has partnered with XY Finance to simplify and reduce the costs associated with transferring assets between blockchains and exchanges.
Hybrid cryptocurrency exchange GRVT announced a partnership with XY Finance, a cross-chain decentralized exchange (DEX) and bridge aggregator. This collaboration aims to simplify and reduce the costs associated with transferring assets between various blockchain networks and exchanges.
“We’ve combined the best of CeFi and DeFi to deliver the ultimate exchange experience,” said Hong Yea, Co-Founder and CEO of GRVT, to MPost. “A survey of our 3,000 community members confirms that we are on the right track. If you look at DEX to CEX trading volume today, DEX only accounts for less than 15% of the total volume—leaving significant room for growth and improvement. The very first step towards our vision is to make DeFi easy, and this partnership with XY Finance is just the beginning,” he added.
The partnership introduces a new cross-chain bridging user experience by utilizing XY Finance’s Proxy Bridge, enabling a centralized exchange (CEX)-like, gas-free bridging process for decentralized finance (DeFi). This allows users to deposit funds directly from a CEX into GRVT’s smart contract without incurring gas fees or requiring multiple wallet transactions—marking an advancement for DEXs.
Crucially, this solution simplifies access for users who are not native to cryptocurrency, addressing common challenges such as gas fees and the complexities of bridging. This sets new benchmarks for DeFi and the wider industry.
GRVT And XY Finance Partnership To Enhance Efficiency And Convenience Of Crypto Trading
As the cryptocurrency landscape continues to grow, traders frequently encounter substantial challenges when transferring assets between various exchanges and blockchain ecosystems. A survey conducted by GRVT identified three main issues affecting the DeFi user experience: difficulty in moving money on-chain (45%), challenges in wallet creation and management (20%), and gas fees acting as a barrier (15%).
These obstacles have hindered the adoption of DeFi for both retail and institutional users, making seamless trading difficult. In response, GRVT and XY Finance are working to address these pain points, aiming to enhance the efficiency and convenience of the cryptocurrency trading experience.
GRVT is a hybrid derivatives exchange that combines off-chain order matching with on-chain settlements, achieving a throughput of 600,000 transactions per second (TPS). Its goal is to transform the global financial system by utilizing blockchain technology, enabling individuals to create and fully control their wealth without facing obstacles.
The latest partnership represents a key milestone for GRVT as it gears up for its Mainnet launch in Q4. Currently, GRVT’s Open Beta Testnet is active, boasting over 2.5 million users on the waitlist.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
