What is Gravity Bridge?
In this episode, Sei Network is joined by Deedle and Deborah Simpier of Gravity Bridge to conduct an AMA and discuss how the bridge works, governance, community pool and more.
Read our notes below to learn more.
About Deborah
Worked as a CEO of a distributed microtransaction platform for internet connectivity payments.
Co-Founder of Gravity Bridge.
Co-Founder and CEO of Althea Network.
Co-Founder of Sommelier Finance.
About Deedle
Started getting more involved in crypto in 2016.
Started working full time in crypto in 2017.
Led a marketing and PR agency for crypto projects.
Worked as Head of marketing at BlockParty which was the first NFT ticketing agency.
He worked in the Cosmos ecosystem in the beginning of 2020.
About Gravity Bridge
It is a decentralized Cosmos blockchain whose primary purpose is to secure the operation of bridges between blockchains.
They have a large community pool that tends to reward users that use the bridge.
They have unique batching mechanisms that enable them to be more efficient and cost less to use.
Design of Community Pool
Gravity is one of the largest community pools with over 50% of token allocations being in the community governed pool.
The mechanisms for the fees on the Gravity Bridge is in the token that is being moved across and some of those fees goes to the community pool and the community can vote which protocols to support using the pool.
Interchain accounts will allow protocol-enabled governance of the token.
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Governance
Initial process is to start a discussion on the commonwealth forum then it goes onchain after that.
Future of Gravity Bridge
It has been very conservatively market-driven.
It is determined by community governance on what kind of developments to include in the roadmap.
Having child/side chains to be the one to connect to other ecosystems.
Future of DeFi
Value capture mechanisms will be on volume metrics.
Decentralized architectures and designs that allow permissionless building.
Sei is building an order book module and an order matching engine in their chain that allows DeFi projects to build on top of them.
Current state of Sei
They have been in an incentivized testnet for 5 months.
There are nearly 20 million onchain transactions in their testnet.
They are currently in their 4th act on their testnet and they have an ongoing NFT mint.
Q&A
Q: Is Gravity Bridge only going to work on Cosmos?
It is a Cosmos blockchain itself and any Cosmos chain through IBC.
It connects to Ethereum but in the future, it will connect to any EVM chain.
Q: How is Gravity different from other competitors?
Gravity is decentralized and multi-sig.
There’s also other architecture which other bridges don't have.
Q: What is the main utility of Dusk NFTs of Sei in the future?
It is an opportunity for people to use the blockchain and try out how the user experience works.
It gives a lot of good insights and information on stress testing the chain.
There might be benefits in the future once the network goes on mainnet.
Q: Does Sei have plans to partner with Binance in the future?
They are looking to collaborate with companies and projects in ecosystems that are net positive, proliferate easy access onchain.and that will also enable them to do permissionless development.
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Easily connect from PC or mobile to choose your tokens & fine-tune your features. BitTicker updates pricing through CoinGecko every minute, keeping you current.
Act now, click the link below to order your BitTicker today.