GRX Chain

GRX is the native coin of a network called GRX Chain. According to its CoinGecko listing, GRX Chain is an EVM-compatible layer-one blockchain developed within the GroveX ecosystem and running on delegated proof of stake (DPoS). The listing states that GRX Chain and the GroveX exchange are linked to each other but operated by separate legal entities; data providers classify the token in the centralized exchange token category.

According to the project's description, GRX is used to pay transaction fees on the network, to secure the network through validator and delegator staking, and for on-chain governance. Part of certain fees is burned until a targeted threshold is reached. Wrapped GRX (WGRX) makes it easier to integrate the token into applications and decentralized exchanges such as GRXswap. This information is based mainly on the project's own statements and could be verified to a limited extent through independent sources.

Trading volume in GRX is largely concentrated in a single pair on GroveX; for assets whose liquidity is gathered in such a narrow area, the price can move sharply on a small number of orders, and counterparty risk tied to the platform comes to the fore. Lzzo.com shows DefiLlama's dollar-denominated reference price on the GRX Chain page; the chart is drawn from this source's historical data.