6.1 FAQ

This section addresses common questions about the GRX Chain, its functionalities, and how to get started. For more in-depth information, please refer to the relevant sections of this documentation.

General Questions:

• What is the GRX Chain? GRX CGroveX's proprietary, high-performance, EVM-compatible bloc. It's designed to power the next generation of Web3 applications and decentralised finance, offering unparalleled efficiency, scalability, and ultra-low transaction fees. GroveX, a leading digital asset exchange, strongly supports it.

• Who owns/operates GRX Chain? GRX Chain is developed and operated by [Name of BVI Entity], an independent legal entity. It benefits from the strong backing, support, and strategic guidance of GroveX Pty Ltd.

• What problem does GRX Chain solve? GRX Chain aims to solve common blockchain challenges like high gas fees, network congestion, and limited scalability, providing a more efficient, cost-effective, and user-friendly environment for dApps and digital asset interactions.

• How do I securely deposit AUD via bank transfer to GroveX? For your security, GroveX’s BSB and account number are not publicly displayed. When you initiate an AUD deposit from your logged-in account on the GroveX platform, you will receive our banking details and a unique reference number. You must use this information and include the unique reference number in your transfer to ensure your funds are correctly and safely credited to your account.

• When will the GRX Chain be fully operational? A working product for GRX Chain is targeted for Q1 2026. The comprehensive coin release schedule will be available this quarter, and the whitepaper will soon be available on our official docs site.

Technical & Performance:

• Is GRX Chain EVM-compatible? Yes, GRX Chain is fully EVM-compatible (GRX-20). This allows developers to easily migrate existing Ethereum-based smart contracts and dApps, leveraging familiar tools.

• What consensus mechanism does the GRX Chain use? GRX Chain operates on a Delegated Proof-of-Stake (DPoS) consensus mechanism, ensuring robust network security, efficiency, and decentralised participation.

• What's Chain's transaction speed (TPS) and fee structure? GRX Chain is designed to achieve over 20,000 transactions per second (TPS) with ultra-low transaction fees, making frequent interactions economically viable for users and developers.

• What is GRXscan.io? GRXscan.io is the official Block Explorer for GRX Chain, allowing users and developers to view real-time transaction data, block information, and smart contract activity on the network.

GRX Token & Tokenomics:

• What is the GRX token used for? The GRX token is the native currency of GRX. It's in. It's used for gas fees, network staking (by delegators and validators), and decentralised governance. Crucially, all marketing activities and listing fees for new projects on the GroveX exchange are paid exclusively in GRX tokens, creating continuous buy pressure.

• How can I acquire GRX tokens? You can acquire GRX tokens by direct purchase on the GroveX exchange (via the GRX/USDT pair: https://www.grovex.io/en_US/trade/GRX_USDT) or by bridging other assets (e.g., USDT) to GRX Chain and then trading on GRXswap (GRXSWAP.io).

• What are the staking requirements for GRX? The minimum staking amount for Delegators is 32 GRX; for Valiit 'srs, it's 100 GRX. The network supports a maximum of 21 active validators. (See Tokenomics section for more details.)

• How does the GRX token burn mechanism work? From a portion of network transaction fees and other ecosystem revenues, 60% will be permanently burned. This burning process will continue until 1,000,000 GRX tokens have been permanently removed from circulation. (See Tokenomics section for more details.)

• What is the initial valuation of the GRX token? At its launch, the GRX Token will have an initial public price of USD 1, establishing an initial market capitalisation of USD 10,000,000.

Ecosystem & Development:

• What is GRXswap? GRXswap (GRXSWAP.io) is the native decentralised exchange (DEX) on GRX Chain, serving as the primary liquidity hub for GRX Chain assets and enabling seamless decentralised trading.

• What kind of support does GRX Chain offer to developers? GRX Chain provides comprehensive support, including dApp funding initiatives, advanced technical provision, marketing support, priority/free listing on GroveX exchange, and LP support. Our team can even assist in building and optimising dApps (including DEXs) at a cost value. For inquiries, contact the GroveX team on Twitter at @groveXchange or via email ([email protected]).

• How do I launch my project on GRX Chain? Projects can launch by preparing smart contracts (EVM-compatible), connecting to GRX Chain via its RPC URL, deploying contracts, and connecting dApp frontends. Detailed guidance is available in the "Launching Your First Project on G" X Chain" section.

Wallet Compatibility:

• Which wallets support the RX Chain? GRX Chain is widely compatible with popular EVM-compatible wallets like MetaMask and OKX Wallet. You can connect your Ledger and Trezor hardware wallets for enhanced security through these software wallets. (See Acquiring GRX & Connecting to GRX Chain for network details.)

• What are the network details for the GRX Chain?

  • Network Name: GRX Chain

  • RPC URL: https://rpc.grxchain.io

  • Chain ID: 1110

  • Symbol: GRX

  • Block Explorer: GRXscan.io