TVL > 100K
What is Gravity Finance (GFI)?
Gravity Finance (GFI) is a decentralized finance (DeFi) protocol deployed on the Polygon Network (an Ethereum sidechain scaling solution that solves many of the challenges that developers and users face with Ethereum, including low throughput and high gas fees). Gravity Finance allows users to engage in swap trading, liquidity pools, and yield farming. The platform also serves as a launchpad for the implementation of promising decentralized projects in the Polygon ecosystem. Currently, the protocol is taking steps toward expanding its functionality and adding more features to the platform, including automated and personalized investment crypto portfolio management, crypto lending & borrowing, derivatives trading, and margin trading. Gravity Token (GFI) holders can earn rewards from the platform’s products, and they are also entitled to various other benefits. GFI tokens are backed by an increasing amount of BTC. GFI benefits vary across the Gravity products, and in most cases, they are access-related. This means a user needs to hold a specific amount of GFI tokens to gain access to a specific product or be eligible for some exclusive offers and special events (such as participation in IDO pools and discounts on transaction fees). For example, to obtain a Tier 1 status, a user needs to have at least 50,000 GFI or equivalent holdings in an Approved Gravity Smart Contract. GFI tokens can remain in personal wallets at all times, and the user’s share of the platform value is always available to claim. This means, staking is not required to generate passive income through the ownership of GFI.
Who are the founders of Gravity Finance (GFI)?
The team behind the project is mostly anonymous. The project whitepaper states that in Gravity Finance’s opinion, introducing the team does not contribute to the project’s safety. They have their reasons for remaining anonymous so far because this practice seems widely accepted in the crypto space these days. The team members are presented by their nicknames: GravityFi_T. This person is the project’s founder with 17 years of experience in Web Development and Project Lead. GravityFi_D . This person is a co-Founder with over 20 years of experience in leading small teams in traditional bricks-and-mortar businesses. Sherlock is the Front-End Engineer. This man has been into web design for over 15 years, developing content for businesses and individuals. Currently also working for PRDX and SEPA. Crispymangoes is a Blockchain Developer with many years of experience developing professional Python applications for both front-end and back-end users.
What makes Gravity Finance (GFI) unique?
As it is a decentralized finance platform powered by Polygon, Gravity Finance (GFI) looks to provide fast and economical transactions helping users to maximize their returns in DeFi. The purpose of the project is to build a secure platform that will enable participants to effortlessly generate passive income by combining automation, ease of use, and a positive user experience. The platform was developed with a unique token distribution model and value accruing mechanism. All Gravity Finance products generate admin fees, half of which are converted to ETH and rewarded to GFI holders. The remaining part of the platform’s revenue is converted to BTC which is used as a GFI backing mechanism, thus making the GFI Token fully secured by the ever-growing number of Bitcoins. Other DeFi platforms require users to lock or stake their tokens to qualify to earn a share of the platform’s fees. Instead, Gravity Finance allows users to keep their tokens in their personal wallets at all times, and the person’s share of the platform’s earnings is always available to claim, without any staking necessary. Participants can also choose to deposit their GFI tokens to Gravity liquidity pools without losing their earning potential. Potential gains are claimed and reinvested automatically on the user’s behalf. It means that users can freely move their GFI assets around the platform without being deprived of any benefits.
Get crypto analysis, news, and updates. Join our friendly crypto community and stay up to dateJoin now