GRVT (Gravity) DEX
A hybrid derivatives exchange combining ZK/Validium L2 settlement with an off-chain CLOB. $107M+ TVL with 847% surge, $33.3M raised across 5 rounds. Currently in pre-TGE phase, targeting institutional-grade privacy trading.
TVL
$107M+
+847% surge
Total Raised
$33.3M
5 rounds (2022-2025)
Community Alloc.
28%
Season 2 (+6% increase)
TGE Status
Pre-TGE
Post-June 2026 expected
Upcoming Macro Event
U.S. Producer Price Index (PPI) release — Mar 18, 2026 22:30 KST · FOMC rate decision (hold expected at 3.50-3.75%) · BOJ decision imminent. High volatility expected across risk assets.
Volume & On-Chain Metrics
Real-time metrics as of March 17, 2026 UTC. Platform is in pre-commercial phase with bridging/deposit activity but limited perpetual trading.
| Metric | Value |
|---|---|
| Total Value Locked | $107,000,000+ USD |
| TVL Growth | +847% surge (recent) |
| 30-Day TVL Change | +21% ($91.9M → $111.4M) |
| Weekly Avg TVL | ~$108.5M (Mar 10-16) |
| 24h Trading Volume | Pre-commercial (limited) |
| Open Interest | Data unavailable (pre-TGE) |
| Daily Active Addresses | ~6.5 avg (Mar 3-16) |
| Daily Transactions | ~7.3 contract txns |
| Monthly Active Addresses | 150-170 unique |
Assessment: TVL momentum is strong (+847% surge, 21% monthly growth), indicating early adopter capital inflows. However, trading activity remains minimal — bridging launched Feb 17, 2026 but perp trading functionality appears not yet fully active.
Competitive Landscape
GRVT vs. leading perpetual DEXs. Hyperliquid dominates with 98.2% of derivatives DEX token market cap ($9.83B).
| Metric | GRVT | Hyperliquid | dYdX | GMX |
|---|---|---|---|---|
| TVL | $107M | $4.2B | — | — |
| 24h Volume | Pre-commercial | ~$6.37B | — | — |
| Token | Pre-TGE | HYPE | DYDX | GMX |
| Token Price | N/A | $41.00 | $0.095 | $6.95 |
| Token Mkt Cap | N/A | $9.83B | $78M | $72M |
| Order Book | Off-chain CLOB | On-chain | On-chain | AMM/GLP |
| Settlement | ZK/Validium L2 | Native L1 | dYdX Chain | Arbitrum/Avax |
| ZK Privacy | ✅ Core feature | — | — | — |
| Regulation | ✅ Bermuda license | — | Partial | — |
| Perp Pairs | Undisclosed | 287 (281 active) | Multi-product | Multi-chain |
Gap to Leader
39x
TVL deficit vs. Hyperliquid ($4.2B vs $107M)
Market Size
~$10B
Total derivatives DEX token market cap
Key Features & Technology
ZK/Validium Settlement
- •Off-chain data availability + zero-knowledge proof verification
- •Confidential order execution for institutional traders
- •Off-chain matching reduces on-chain congestion
- •Hybrid architecture for high-performance derivatives
Aave Integration (Feb 26, 2026)
- •Composable yield on trading margins
- •Deposits auto-earn Aave lending yield
- •Maintain positions + earn on-chain yield simultaneously
- •First integration in GRVT's composable ecosystem
Regulatory Compliance
- •Bermuda DABA license holder
- •World's first licensed on-chain exchange
- •Audit framework for institutional adoption
- •KYC/AML compliant infrastructure
Institutional-Grade Infra
- •Individual & Business accounts (multi-user, role separation)
- •Up to 5 API keys per trading account (Ethereum address linked)
- •Non-custodial smart account (Account Abstraction)
- •Referral program: 11% APY boost (min 250 USDT deposit)
Benefits
For Retail Traders
- →Self-Custody — Full control over assets at all times. Zero counterparty risk.
- →Privacy — ZK proofs minimize trading data exposure while maintaining auditability.
- →Yield on Idle Capital — Aave integration generates returns on collateral while positions stay open.
- →Airdrop Opportunity — 28% community allocation. 2x multiplier for altcoins, 3x for RWAs.
For Institutions
- →Regulatory Clarity — Bermuda licensed — first regulated on-chain derivatives exchange.
- →Business Accounts — Separate roles: fund manager, executor, oversight with distinct permissions.
- →Programmatic Trading — 5 API keys per account for automated strategy execution.
- →Confidential Execution — ZK-based private order execution for large institutional trades.
Team & Funding
Core Team
- Hong Gyu Yea — Co-Founder & CEO
- Aaron Ong — Co-Founder & CTO
- Matthew Quek — Co-Founder & CCO
- Chris Thomas — Head of Blockchain
Community & Links
- Twitter: @grvt_io — 468,181 followers
- Website: grvt.io
- API Docs: api-docs.grvt.io
- Telegram: t.me/grvt_io
| Round | Date | Amount | Lead Investors |
|---|---|---|---|
| Series A | Sep 18, 2025 | $19M | 500 Global, Further Ventures, EigenCloud, ZKsync |
| Strategic | Jan 21, 2025 | $5M | Further Ventures |
| Strategic | Mar 19, 2024 | $2.2M | QCP Capital, Selini Capital, Pulsar Trading |
| Seed | Sep 19, 2023 | $5M | Delphi Ventures, Matrix Partners, CMS, Hack VC, Susquehanna |
| Pre-Seed | Oct 1, 2022 | $2.1M | Folius Ventures, 500 Global |
TGE & Token Status
Status
Pre-TGE
No token issued yet
Expected
Post-June 2026
Not listed on any exchange
Community Share
28%
Season 2 airdrop (+6%)
Airdrop Multipliers: 2x for altcoins, 3x for RWAs · Referral: 11% APY boost (min 250 USDT + 5 trades) · Tokenomics not yet disclosed
Recent Developments
Referral Program Launch
11% APY boost on trading balances for successful referrals. Min 250 USDT deposit + 5 trades required.
Aave Integration Announced
Composable yield on trading margins — deposits auto-earn Aave lending yield while backing trades. First integration in GRVT's composable ecosystem.
GoRogueTrading Partnership
Integration for market insights and analytics, providing real-time information for navigating market uncertainty.
Bridging Capabilities Launch
Platform launched with bridging and deposit functionality. Perpetual trading features in testing phase.
$19M Series A Closed
Led by 500 Global, Further Ventures, EigenCloud, ZKsync. Total funding reaches $33.3M.
Live Market Context
Real-time market intelligence from Surf AI. Published Mar 18, 2026 07:50 UTC.
Key Market Trends
- ●FOMC rate decision (hold at 3.50-3.75%) + BOJ decision imminent — risk asset volatility expected
- ●Crypto ETP inflows: $1.06B last week (BTC $793M, ETH $315M) — 3 weeks consecutive positive
- ●BTC spot ETF: 5 consecutive days of inflows. ETH ETF: 5 consecutive days
- ●Rising coins (3%+): 65 today vs 107 yesterday — rally narrowing to BTC/ETH focus
- ●BTC/ETH funding rates neutral (0.0000%). Liquidations balanced long/short
Must-Know Headlines
- →SEC & CFTC joint guidance: most crypto assets are NOT securities — major regulatory clarity
- →Mastercard acquires stablecoin infra BVNK for up to $1.8B — fiat-crypto bridge
- →PayPal PYUSD expands to 70 countries for remittance & rewards
- →BTC exchange outflow: -18,933 BTC (Mar 16) — supply pressure easing
- →Bithumb fined $24.6M + 6-month partial suspension for AML violations
Key Takeaway
GRVT positions itself uniquely in the $10B+ derivatives DEX market with ZK privacy + regulatory license + hybrid architecture. The 847% TVL surge to $107M+ demonstrates strong early momentum, but the 39x TVL gap to Hyperliquid ($4.2B) and pre-commercial trading status are critical realities.
Catalysts to watch: TGE timing (post-June 2026), perp trading activation, Aave yield performance, and institutional onboarding. The Bermuda license and ZK privacy stack create a defensible moat for the institutional segment that no other derivatives DEX currently serves.