Cosmos blockchain based Gravity DEX protocol is now live
Today, Cosmos network validator B-Harvest, and Tendermint, the blockchain infrastructure provider for Cosmos, together announced they have successfully launched and deployed the Gravity DEX protocol.
Gravity DEX marks the biggest stride forward for Cosmos to date. It also marks a big step in realizing the Cosmos vision for the future of crypto: multiple interconnected blockchains.
Beyond its impact as a cross-chain decentralized exchange, Gravity DEX unlocks vital amounts of utility for the Cosmos Hub; encouraging new chains to trade and create liquidity, enabling more traders to start arbitrating, and helping developers discover a new path for permissionless token listings.
Currently, the Cosmos ecosystem is worth more than $65B. This ecosystem includes Cosmos Hub, Binance Chain, Terra, Crypto.com, THORChain, and many other projects. Gravity DEX enables permissionless swaps and pools of assets between any two blockchains in this growing ecosystem.
“Apart from the larger, more widely recognized projects, many tokens in the Cosmos ecosystem have been historically hard to purchase. Many early-stage projects with incredible potential aren’t available on most of the centralized exchanges; but Gravity DEX provides immediate access to all of these hard-to-buy tokens, such as Regen Network, Akash, Sentinel, Persistence, and IRISnet.”
– The B-Harvest Team
Gravity DEX Features
To broaden user accessibility, the Gravity DEX improves price models and decreases transaction fees.
The Gravity DEX protocol will democratize DeFi by lowering transaction fees — to an average of $0.08. This assures trading is efficient and accessible for everyone.
Most importantly, Gravity DEX uses an innovation called the Equivalent Swap Price Model (ESPM) that improves price discovery by landing on precisely the latest swap price. This price model makes it fair for traders while additionally guaranteeing that the price you see is the price you get.
Further, improving upon the Uniswap model, the Gravity DEX protocol uses batch execution to remove the possibility of front-running or price manipulation. With batch execution, orders in the same block are processed simultaneously and treated equally. This removes the possibility for front-running.
How To Use Gravity DEX: Introducing Emeris
Last week, Tendermint announced Emeris: a one-stop portal for all crypto apps, regardless of the blockchain the app runs on. Emeris will also be the first platform to support the Gravity DEX protocol.
The beta version of Emeris is set to launch in the coming days. Plus, thanks to the support of the Gravity DEX protocol, Emeris will enable users to experience cross-chain DeFi on Cosmos for the first time.
Subsequently, beginning with cross-chain token transfers and swaps, Emeris plans to expand to enable access to decentralized applications built on various blockchains, all from within a single interface.
Gravity Bridge: Connecting Ethereum to Cosmos
Beyond the cross-chain trading of Cosmos tokens; work is underway to connect major chains to Cosmos. The most advanced work taking place is on the Gravity Bridge to Ethereum. This bridge is scheduled to be proposed as an upgrade to the Cosmos Hub in Q3 2021.
The Gravity Bridge is a secure, efficient, and decentralized cross-chain bridge to Ethereum. The bridge will allow Ethereum’s substantial value and liquidity to flow into the Cosmos Hub, enriching the Gravity DEX marketplace, and enabling the Ethereum community to buy Cosmos tokens on DEXs like Uniswap.
“With the Gravity DEX protocol going live today and Emeris beta launching imminently; Cosmos is primed to become a leading ecosystem in the DeFi space. We’re excited to level the DeFi playing field and make trading accessible to all users. We are building the Internet of Blockchains, and the Gravity DEX deployment is just the beginning.”
– The B-Harvest Team
Gravity DEX Keynote
Today, Peng Zhong, CEO at Tedndermint gave a keynote about the launch of the Gravity DEX protocol on Cosmos Hub; what this means for the Cosmos community, and what users should expect next.
You can watch the keynote below:
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