Vision & Roadmap 2023

and Our Journey So Far

4 min readOct 25, 2022

Click here for Gravity Vision and Roadmap 2023

When & Why Gravity Finance was Created

Development of Gravity Finance started in September 2020 with just two friends and big ideas on how to improve the entire ecosystem. Firstly, how to Simplify and Automate DeFi.

At the time, Uniswap and Sushiswap were becoming very popular, which directly resulted in an increase of transactions and transaction costs on ETH Mainnet.

The increased gas costs, coupled with the requirement to manually manage governance token staking to earn fees, and then swap those fees into your chosen token to realise profits, meant that most of the time it was simply not worth the cost, unless you held sizable positions.

Due to the increased gas costs and the cumbersome staking requirements, we set out to find a better way to handle staking and admin fee pay-outs. Our first task was to completely eliminate the requirement to stake governance tokens to earn admin fees!

In the months that followed, we worked on a proof of concept, and by the end of 2020 we had a working model that could assign and distribute admin-fees to any addresses that simply held governance tokens. Better yet, we could distribute admin fees in any token we wanted! After some discussion, we settled on distribution of admin fees in ETH.

The second major issue we recognised was that the majority of governance tokens had no real tangible or inherent value, they were not backed by anything and the market value was based purely on incentivised rewards, admin fee generation and speculation.

We started to explore options on how a real value could be established. This led to the creation of a token backing Vault.

By early 2021, we had created a Governance contract that could hold BTC as a reserve asset. Much like a traditional gold-backed currency, our governance token would be backed by BTC and governance tokens could be redeemed for a share of the BTC backing.

By this stage, we had accomplished several of the things we had set out to do. We had eliminated the need to stake governance tokens, all governance holders could receive admin fees simply by holding tokens in an address.

We had removed the need to distribute admin fees as more governance tokens, thereby reducing the number of transactions required to actually realise profits made through admin fees.

We had established a way to give the governance token a real value through an ever-increasing vault of BTC, generated by product use admin fees.

It was finally time to officially present Gravity Finance to the world.

2021–Present

In April 2021 we opened our social media channels to the public and presented Gravity Finance Whitepaper, Roadmap and Tokenomics for our Governance token, GFI.

In May 2021 we self-hosted a successful community fundraising round, where approximately $800k (USD) was raised, securing a multi-year runway for the project.

In the approximately 18 months following the community raise, we have launched multiple products, including a Decentralised Exchange, Yield Farms, Auto-compounding Vaults, and an IDO Launchpad.

We have formed many partnerships, collaborations, and integrations, including Chainlink Labs, Polygon, Kyberswap, 1Inch and various bridge Projects. We have also received grants from various projects (including Polygon and The Graph).

In our first ~1 Year (actually 13 months) we also distributed the majority of the GFI governance tokens via yield farms to protocol users and supporters who had added liquidity to the DEX.

Since we are almost fully distributed, the supply has become deflationary through token burns and GFI<>BTC redemptions.

Current Work: SILOS

During the last 12 months, we have been collaborating with Chainlink Labs to build a new DeFi product, called Silos. Silos is an automation tool for DeFi, allowing manual tasks to be Automated.

If you can think of a manual task, we can automate it.

From simple tasks such as harvesting rewards in yield farms, to complex tasks such as managing collateral/debt positions on collateralised loans or managing delta-neutral trading positions in the DeFi space.

Silos is our flagship product and we consider its completion to be our real “Launch Moment”.

This launch is earmarked for November 2022.

2023 & Beyond

The Gravity Finance team remains small, but we have huge plans for the future of the project and the DeFi space in general.

We suspect the next “phase” of DeFi will see far more Institutional participants enter the space through Permissioned DeFi (DeFi with a Centralised authorisation layer), as such, we have already started to speak with, and form relationships with, Permissioned DeFi providers and have some new products planned for 2023 that will be able to facilitate both the Permissioned and Permissionless DeFi space.

You can find more detail about our plans for 2023 and beyond in the new paper we have just published, titled “Gravity Vision and Roadmap 2023”