The road to Grvt 2.0 starts with the token
The first buyback of Grvt has been completed: 1.1 million GRVT was bought on the open market and burned, which is close to 1% of today's circulating supply. You can verify it on this dashboard now. Further buybacks are planned monthly, at the issuer’s discretion.
The buyback is the first of five announcements before the end of November. This leads up to Grvt 2.0: the first investing app where everyday users earn and trade from a single self-custodial balance. After today's buyback announcement, Grvt will be launching an upgraded Earn product, Stable Funding Perps markets, trading margin on Earn balance, and a refreshed app that deeply integrates these features.
Details of the buyback
Discretionary. Each month the Foundation allocates funds to buy GRVT on the open market. The size of each round is at the Foundation’s discretion and will vary.
Monthly. The issuer intends to run the program in monthly rounds, with variable timing and size.
Executed independently. The Foundation’s token issuer runs each round through an independent execution partner.
Burned, and verifiable. Tokens are destroyed using the GRVT contract’s
burn()function. This permanently lowers total supply on-chain. Burned tokens can’t be recovered by anyone, including Grvt. A live dashboard shows every round: GRVT bought, the share of circulating supply, the total burned to date, and the transaction hashes.
The launches that make Grvt 2.0 are aimed to serve our users better.To see what that means, we start with the user.
What people want from their money
After two years of running the exchange, we've learned that people want their money to earn more, safely. They want to have the option to trade anything with low fees and good execution. And one does not want their money sitting idle. Everything we are building serves one of those three needs.
A safer, higher return on their savings.
People want a return meaningfully above what a bank pays, from a portfolio of assets whose risks do not move together, run by managers with long track records, with full transparency on where the yield comes from. Those returns exist. Fixed income is a US$161 trillion market, and for decades its best funds have paid exactly that to institutions, while everyday people have been kept out by million-dollar minimums, quarterly redemption windows and accredited-investor rules. Tokenization has brought these funds onchain. The place where an everyday person can buy them has not been built.
To trade anything, cheaper and with better execution.
An opportunity can appear in any market: stocks, currencies, commodities, indices or crypto. People want to act on it from the place where their money already sits, which means thousands of global markets in one account. They want to act at a fair price, with liquidity on par with a global broker's, so that fees and slippage together cost no more than they would anywhere else. And when they trade perps, they want funding that is lower and more predictable, so holding a position costs what they expect. Breadth, price and predictable funding: that is what everyday investors want from trading onchain.
To never lose yield just to be ready to trade.
Anyone with both a savings account and a trading account knows the trade-off. Cash waiting in the trading account earns nothing. Money in savings earns, but to trade it you have to pull it out and give up the return. Onchain the problem is larger still: roughly US$300 billion sits in stablecoins today, most of it earning little or nothing. People want their money to keep earning right up to the moment they use it, without moving it anywhere. Institutions have always had this through their prime brokers. Everyday users never have, because it was too expensive to offer on small accounts, and onchain is what changes that.
The road to Grvt 2.0
Everything we have built since 2022 is the foundation for delivering those three things. We started Grvt in the months after FTX, with one belief: people should be able to hold their own money and still get everything a world-class exchange offers. On that belief we built our own ZK chain on ZKsync's Prividium and the first privacy perp DEX, which cleared US$5 billion in its first 120 days and US$51 billion in January alone. We made margin earn yield while it backs trades, connected it to Aave and Ondo's USDY, launched GLP, our market-making strategy, and grew to around 200 markets across crypto and RWAs. In July the GRVT token launched and became the first major perp DEX token listed on every major exchange, including Upbit and OKX.
The pieces for the next chapter are built. Between now and the end of November we will release them, one by one.
Grvt Earn, end of October. The asset-backed, higher return earn product. Grvt Earn brings the US$161 trillion fixed income market to everyday users. Up to 11% on your savings, paid from the cash flow of real fixed income assets: interest, premiums and invoices. The funds behind it have long track records in traditional finance and returns that do not move together, and the institutions supplying them are names you will recognise. GLP, our market-making strategy, sits alongside them. Your money stays in an account only your own key can move. We introduce the partners on launch day.
Stable Funding Perps, November. Trade anything, cheaper and with better execution. Stable Funding Perps brings the full liquidity of the TradFi market onchain: stocks, FX, commodities and indices in one account, sourced directly from where they trade today. Zero trading fees, funding charged once a day and usually lower than anywhere else, and liquidity deeper than any perp DEX. We aim to list more than 1,000 names by the end of December.
Yield as margin, November. Never lose yield to be ready to trade. Use the savings earning up to 11% in Earn as the margin you trade with. Your money keeps earning while it backs your positions, so you never have to choose. No bank or broker offers this to everyday users.
Grvt 2.0, end of November. The new version of Grvt, with everything above built in. A new brand and a redesigned app, and yield as margin available to every user. Stable Funding Perps adds more than 200 further markets. Earn, trading and the balance that does both sit in one place, with assets you hold yourself. It is the Grvt you know, rebuilt as an investing app, and we will publish the 2027 roadmap alongside it.
Why Grvt can build this
What makes this possible is that Grvt owns its rails, from the settlement layer to the matching engine to the risk engine. No other investing app does. Owning them is what lets us do what an app on borrowed infrastructure cannot: let one balance earn and trade at the same time, enforce risk in code rather than in a back office, and curate products and deliver them directly to the people who hold them. We are taking the parts of finance that work and making them more accessible and more efficient. Blockchain is how we do it.
Grvt 2.0 arrives at the end of November. The road there starts today.
Upgrade your money. Upgrade your future.