The GRAVY DeFi Project is the most innovative project in the DeFi space. GRAVY is a high frequency trading (HFT) arbitrage strategy implemented on the EOS mainnet that mines for profitable trades. In order for GRAVY to mine the EOS mainnet for arbitrage opportunities it uses CPU resources to monitor the mainnet. GRAVY is powered by miners who are rewarded with GRV which is the protocol token for GRAVY. The GRV token can earn staking rewards which are paid out in EOS from arbitrage trading profits.
Set up Your GRAVY Miner
Being a GRAVY miner in many ways is reminiscent of the early days of bitcoin when CPU mining was a thing before ASICs dominated the industry. In GRAVY anyone can be a miner. You can visit our GitHub for step by step instructions for setting up a node (e.g. a computer with EOSIO software) and code for mining GRAVY.
How does GRAVY Work?
In the bitcoin network, miners secure the network by validating the network’s transactions. To ensure that the network is decentralized, miners engage in a consensus process where each miner competes to validate transaction blocks by solving computational puzzles. The higher the hash rate of the miner, the higher the chances of solving the mathematical puzzle and sealing off the block and collecting the bitcoin reward. The hash rate is the number of calculations the hardware can perform per second.
In the same way, the higher GRAVY’s network hash rate, the higher its chances of finding successful trades to mine across the EOS mainnet. Bitcoin is designed so that the more decentralized it becomes, the stronger the network.
GRAVY possesses those same qualities as bitcoin, in that the more miners participate in GRAVY, the higher the GRAVY dominance of network arbitrage, which will lead to more revenue for GRV token holders as trading volume grows on EOS mainnet.
What is a Miner?
GRAVY is powered by miners. Just like miners in the Bitcoin network, GRAVY miners use CPU to mine GRV tokens. To incentivize miners to use their computational resources to power GRAVY, miners are rewarded with an interest bearing token: GRV.
Earn EOS for Staking GRV
100% of arbitrage trading profits flows to GRV token stakers.
How Does Staking Work?
Trading profits flow into the staking pool where they accumulate. Each day, 4% of the staking pool is paid out, pro-rata to accounts which have staked GRV. Accounts can claim their EOS rewards once every 24 hours. There is no need to manually claim rewards, they will automatically accumulate in the staking contract for you until you claim.
Token Distribution
There is no pre-mine for the GRV token. Every GRV token which will ever exist must be mined.
In order to incentivize the development team and compensate them for their initial donation of trading capital to the project, the development team will receive 12.5% of GRV mined in each mine action. Additionally, 12.5% of GRV mined will flow to a discretionary fund used to fund either community development or core GRAVY development.