Gravity Finance Migration Plan

From Polygon to Sonic

3 min readNov 26, 2024

Proposal

We are proposing a plan to migrate GFI token and the entire Gravity Ecosystem to a new home on the Sonic Chain (previously Fantom).

Why?

We strongly believe that moving to a chain where the project and its team are valued and truly supported is critical for the Project’s success and necessary to allow it to grow and reach its true potential.

Sonic have already provided Gravity with a huge boost via a funding grant for Silos v2 development and a top Tier allocation in their Sonic Boom airdrop program (for both our users and our development team).

Native vs multi-chain

By migrating to Sonic, we will be considered a native protocol. Native protocols should benefit from additional support, including social media posts, Twitter spaces/round-tables and connections to other protocols on the chain etc.

Native protocols are also far more likely to receive boosted allocations in the Sonic Gems Airdrop program. Gravity can then benefit from this in the following ways:

Incentivise users of Silos v2 and other Gravity Native products.
Incentivise users of our planned ‘Fluid’ Order Book DEX which should be deployed on Sonic soon after the launch.
Incentive GFI liquidity.

Changes

As part of this migration we also propose the following changes to the core Gravity Ecosystem which will help to correct some current limitations.

GFI would require staking in order to earn wETH (on each chain it’s available). While our existing “staking not required” approach is a neat idea, it’s also very limiting and requires a lot of additional consideration in everything we build. It simply doesn’t work for scalability.
POA (wBTC etc) would no longer be “claimable” (with a GFI burn) as it’s not feasible with assets potentially held on multiple chains. Instead the DAO could vote to distribute POA to holders if that ever became a topic of discussion. We envisage the POA will simply grow and generate revenue, further adding value to GFI and the ecosystem.

Migration Steps

We have already established a Sonic migration plan, which will take several months to implement, however Phase 1 can be completed in the short term (ready for Sonic mainnet launch). This phase includes the following:

Deploy a new Sonic native GFI token with some future proofing built in. We have consulted our friends and partners at VIA Labs, a specialist in cross-chain technology who have assisted with scoping out the required functionality.
Deploy a migration contract and UI on the Gravity dAPP, which will allow GFI holders to migrate their Polygon GFI to Sonic GFI. Any Polygon GFI migrated will be burned immediately, keeping the supply 1:1.
Deploy staking contracts on both Sonic and Polygon. The Polygon staking contract would operate for as long as required and until the remaining Gravity ecosystem has been migrated to Sonic.
Modify the Gravity Finance website to integrate the above mentioned changes.

Next Steps

We strongly encourage the community to support this migration plan, and engage in discussions in the Gravity Finance Discord server. Based on feedback in the community this plan will either be implemented in full or put to a DAO vote if required.

Not in the Gravity server? Come and join the discussion.

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