Gravita Protocol Review 2026: ETH-Centric Borrowing Against LSTs

Gravita Protocol describes itself as an ETH-centric borrowing protocol for liquid staking tokens (LSTs) and yield-generating assets. GRAI is its debt token, and its motto is "fuelling decentralization". DefiLlama lists it in the CDP category, tracked since May 2023.

The protocol is deployed on Ethereum, Optimism, Arbitrum, zkSync Era, Linea, Polygon zkEVM and Mantle. DefiLlama shows about $394,000 in total value locked, up 4.0% over the past week, and lists two audits.

The homepage could not be fetched for this review, so details on collateral types, ratios, fees and current activity come only from DefiLlama and search snippets. Price pages for GRAI show inconsistent data, so readers should verify token details on official channels.

Gravita is a collateralized debt position (CDP) protocol. A user deposits an approved asset, such as a liquid staking token, into a smart contract and can then borrow GRAI against it. The loan must stay over-collateralized, so the collateral is worth more than the debt.

If the collateral value falls too far, the position can be liquidated to protect the system. A Medium article from the project describes a Stability Pool as part of this design, which in similar protocols is a pool of the debt token used to absorb liquidated debt. The exact rules for Gravita are not public, so check the documentation.

Because the collateral is yield-bearing, borrowers can keep exposure to staking rewards while accessing liquidity in GRAI. The tradeoff is added risk from the underlying staking protocol and from price differences between the LST and ETH.

Fees are not published publicly available for this review, and the homepage could not be fetched. Borrowing protocols of this type usually charge some combination of borrowing, issuance or redemption fees, but the exact Gravita figures are not confirmed here.

Users should check the borrow interface and official documentation for current rates, minimum debt and collateral ratios before opening a position. Network gas costs on each chain are separate.

DefiLlama lists two audits, but the auditors, scope and findings are not public. Users deposit collateral into smart contracts, so bugs, oracle failures or a depeg of an LST could cause liquidations or losses. A small TVL can also mean less liquidity when positions need to be closed or liquidated.

The project does not describe custody, admin keys, upgradeability, regulatory status or past incidents. Check these in the documentation and audit reports before depositing. This review is research-based and does not involve hands-on testing. This is not financial advice.

Gravita is for experienced DeFi users who hold LSTs or similar yield-bearing ETH assets and want to borrow against them while keeping their staking exposure. It is less suitable for beginners or anyone who needs deep liquidity or a long track record at scale.