**SINGAPORE, Singapore, August 5th, 2024/Chainwire/--**Hybrid cryptocurrency exchange GRVT (pronounced “gravity”), ZKsync’s first official Validium ZK Chain, launches its Open Beta Testnet today. After months of anticipation, the 2.5 million waitlisted testers can now experience GRVT’s cutting-edge features.

Blending the strengths of both CEXs and DEXs, GRVT empowers users with self-custody of their assets and offers off-chain order matching combined with on-chain settlements at an impressive 600,000 transactions per second (TPS). This unique model ensures that transactions benefit from the speed of off-chain processes, while all asset settlements remain secure and verifiable on the blockchain.

To celebrate the Open Beta Testnet launch, GRVT offers exclusive rewards to early participants:

• Be among the first 30,000 users to complete KYC verification and win from a pool of 2.4 million $ZK tokens and 600,000 raffle tickets.

• Claim raffle tickets immediately upon verification.

• To claim $ZK tokens, participate on Mainnet Day 1 (more details about Mainnet will be announced later).

“GRVT aims to revolutionize financial markets by integrating blockchain technology and self-custody solutions into both TradFi and DeFi,” said Hong Yea, Co-Founder and CEO of GRVT. “We are thrilled to open our platform to the public. By applying blockchain settlement and trustless risk management to centralized order book infrastructure, GRVT is transforming trading and investment while upholding traditional security controls. I believe this approach, starting with crypto markets, can reshape the entire financial landscape.”

GRVT’s development is backed by Matter Labs, the creator of ZKsync, along with support from prominent industry partners and investors, including Delphi Ventures, Matrix Partners, Hack VC, ABCDE Capital and so on. For more information and to join the GRVT community, users can 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.

About GRVT

GRVT (pronounced “gravity”) is a hybrid derivatives exchange enabling off-chain order matching and on-chain settlements at 600,000 TPS. Founded in 2022 and backed by Matter Labs, GRVT is ZKsync’s first official Validium ZK Chain. Our mission is to democratize the financial market with secure, self-custodial solutions, providing a safe, efficient and simple trading environment for everyone.

GRVT official website

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Contact

Reed Li

GRVT

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