Web3 has a user experience problem, Galxe's new L1 Gravity wants to fix it

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Today's newsletter is sponsored by Gravity, the layer-1 blockchain created by Galxe for mass adoption and an omnichain future. Galxe’s onchain distribution platform is integrated across 34+ chains, has 21 million users and 100 million monthly transactions. 

To make the user experience as enjoyable as possible, Galxe created Gravity to simplify cross-chain transactions, enhance privacy via ZK proofs, offer rapid transactions, and deliver a user-friendly experience while integrating seamlessly with Galxe’s core products.

For developers, Gravity opens the door to building on the largest onchain distribution platform effortlessly. For users, it promises a smoother, more secure journey through web3. It's not just about being onchain; it’s about being on the right chain every single time.

Ready to elevate your web3 journey? Discover how Galxe and Gravity can propel you forward by clicking here.

Galxe’s new layer-1 blockchain Gravity is all about improving user experience

As many crypto projects struggle to retain users, or even onboard them due to clunky user interfaces, Galxe is trying to take a different approach by launching its own layer-1 blockchain, Gravity.

The web3 onchain distribution platform announced Gravity at the end of May as a way to move its suite of products onchain and support its 20 million users and 100 million monthly transactions.

“It’s a pain for users to navigate between different chains, bridging tokens all the time, leaving balances everywhere,” Harry Zhang, co-founder of Galxe, said on the Talking Tokens podcast. (Listen to the episode on Spotify, Apple Podcasts and Youtube.) “So we want to create a unified experience so users don’t have to worry.”

Its products Galxe Passport, which has about 1 million KYC’d users, and Galxe Score, will migrate from BNB Chain and Polygon, respectively, to Gravity.

Gravity aims to solve for an omnichain future, where a number of blockchains interact with one another. It wants to be the chain that connects “all other chains out there,” Zhang said. It has embedded a lot of features in order to connect and interact with other chains through Gravity, he added.

Right now, users might have to use 10 different websites or applications to participate in multichain activities, Zhang said. The goal through Gravity is to help users send “intent-based transactions,” making the experience less clunky.

Prior to Gravity, Galxe has integrated with dozens of blockchains. “We are not trying to compete with these 30+ blockchains,” Zhang noted. “We’re not taking away users or transactions from these blockchains, Gravity is basically here to help our users have a better user experience.”

Check out the next section for more details and the full episode.

The latest Talking Tokens podcast 🎙️

For this week’s Thursday episode, I spoke with Harry Zhang, co-founder of Galxe and the podcast’s newest sponsor!

We talked about Galxe’s suite of web3 products, its new layer-1 blockchain Gravity, the importance of user accessibility and the company’s road map ahead.

Talking Tokens episodes are released on Spotify and Apple Podcasts at 6AM EST or YouTube at 10AM EST every Tuesday and Thursday. Listen in!

Make sure to subscribe to keep up with the latest episodes. Feel free to leave a review and tell us your thoughts.

Monitoring blockchains

Looking at some of the biggest developments onchain.

• Polygon creates a new grants program using funds from its community treasury, giving out 1 billion POL tokens, roughly 100 million annually

• The investment arm behind Tether, the world’s largest stablecoin, plans to deploy over $1 billion in deals over the next year, its CEO said

• Optimism releases permissionless fault proofs onto OP mainnet, OP Stack’s stage 1 of decentralization

Taking on the tokens 

The total crypto market cap increased 2% in the past 24-hours to $2.49 trillion. It is down 5.7% over a 7-day period.

As for the largest cryptocurrencies by market cap…

These metrics were taken prior to the time of publication.

Money and people moves

Latest updates on crypto startups that secured funding and industry players who are starting something new.

1. Uniswap chief legal officer Marvin Ammori to transition into part-time role, successor named Katherine Minarik previously at Coinbase

2. Stablecoin Issuer Paxos Cuts 20% of Workforce (Bloomberg)

3. Blockchain engineering group Equilibrium launches venture unit, raising over $30 million for first fund (The Block)

4. CMT Digital looks to raise $150 million for fourth crypto fund: report (The Block)

5. Arthur Hayes joins Covalent as advisor, receives compensation in CQT token (The Block)

Talking points for the road 

Here’s some headlines and topics that you can talk about at your next dinner party, crypto event or on a first date to look smart (results may vary.) 

1. Donald Trump’s latest pro-crypto push includes courting Bitcoin miners at Mar-a-Lago (Fortune)

2. Solana Labs launches customer loyalty platform (Blockworks)

3. Crypto and Artificial Intelligence Could be a $20 Trillion Megatrend, Bitwise Says (CoinDesk)

4. Bitcoin ETFs are smashing records. Here’s why the price won’t budge (DL News)

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Please note that this content is for informational and entertainment purposes only. Any views shared should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research. We may have a direct or indirect financial interest in content mentioned in this newsletter.