Introducing the GVNR Authority

What is the GVNR Authority?

The GVNR Authority is an innovative alliance of technology providers focused on revolutionising the decentralised finance (DeFi) landscape. Comprising GVNR, Bancor, Lit Protocol, and Pocket Network (POKT), this coalition aims to deliver powerful, permissionless solutions that empower individuals to take control of their digital assets.

Together, these members create a decentralised technology stack that enables users to:

• Gain permissionless control of digital assets during cross-chain transactions, including purchases, transfers, swaps, and staking.

• Mitigate systemic risks associated with bridging assets between chains.

• Eliminate reliance on centralised third parties for asset management.

As the demand for cross-chain interoperability grows, maintaining permissionless access has become increasingly complex. However, the GVNR Authority is equipped with the necessary components to address these challenges in 2024.

Members of the GVNR Authority

GVNR

At the helm of this initiative is GVNR, a network—not a blockchain—that introduces a custom-built general message-passing framework. This framework enables secure, unrestricted transfer of messages across connected chains, facilitating liquidity and interoperability among all blockchains, including Bitcoin.

• Key Features:

  • Permissionless Universal Control: GVNR aims to unify all blockchains, allowing users to engage without relying on centralised counterparts or vulnerable bridges.

  • Unlocking $BTC: By enabling Bitcoin to be utilised across various connected chains, GVNR seeks to enhance liquidity within the broader digital asset ecosystem. This approach empowers developers to create decentralised cross-chain applications (DApps) and positions GVNR as the leading solution for cross-chain control.

Bancor

Bancor is a trailblazer in the DeFi space, known for creating the first Automated Market Maker (AMM) and establishing fundamental principles like “Don’t Trust, Verify” and “Not your keys, not your coins.” GVNR leverages Bancor’s expertise in two critical areas:

Carbon DeFi:

• Carbon DeFi is a groundbreaking evolution of the AMM model, combining the strengths of traditional AMMs and Central Limit Order Books (CLOBs) while addressing their inherent limitations.

• Features:

  • Custom Trading Strategies: Users can automate buy-and-sell orders at specific price points without the need for complex coding, facilitating strategic trading based on market conditions.

  • No Impermanent Loss: Carbon is designed to mitigate impermanent loss, a common risk in liquidity pools that can diminish returns for liquidity providers.

  • Passive Income: By investing in Carbon’s strategy pools, users can earn returns without active management, making DeFi trading more accessible to both newcomers and experienced users.

The Vortex:

• The Vortex is a strategic mechanism that reduces the overall supply of the Bancor Network Token (BNT) by buying and permanently "burning" it, enhancing scarcity and potentially increasing its value over time.

• This mechanism is essential for the JUSTPAY solution, which enables vendors to accept payments in thousands of different tokens and automates the conversion process into a single preferred asset.

Lit Protocol

Lit Protocol was chosen by GVNR to provide the Multi-Party Computation (MPC) layer, which is crucial for the network's security.

• Key Features:

  • Lit Protocol employs advanced cryptography, confidential hardware, and peer-to-peer networking to securely generate and manage non-custodial keys while executing private and immutable programs.

  • Each Lit Node operates using AMD’s SEV-SNP confidential hardware, ensuring that collusion would be necessary to compromise key material.

  • If nodes go offline, they face penalties, while reserve nodes can seamlessly maintain network operations.

  • A robust recovery mechanism allows for the extraction and importation of key shares into a new network of nodes in case more than one-third of the nodes become unavailable.

Pocket Network (POKT)

Pocket Network plays an integral role in the GVNR Authority through its Grove service, which facilitates data interaction across over 40 blockchains.

• Key Features:

  • Grove operates on a decentralised network of nodes, improving reliability and scalability for users.

  • It enhances performance while ensuring high-quality service without requiring private keys, thus boosting security.

  • Neither Grove nor POKT can sign transactions; this responsibility falls to the MPC layer managed by the user's smart contracts.

  • GVNR collaborates with POKT to ensure privacy considerations remain a priority when using public RPCs.

Conclusion

The GVNR Authority signifies a major advancement in the DeFi landscape, uniting leading technology providers to establish a decentralised infrastructure centred around permissionless control, security, and user empowerment.

By harnessing the strengths of GVNR, Bancor, Lit Protocol, and Pocket Network, this coalition is poised to redefine how individuals manage and interact with their digital assets across multiple blockchains, paving the way for a more inclusive and resilient DeFi ecosystem.