For the following to make sense, I created two global variables called GameWidth and GameHeight in my project.
At the start of a layout I set GameHeight = ViewportBottom(0) - ViewportTop(0), and GameWidth = ViewportRight(0) - ViewportLeft(0).
The following is assuming that the grenade sprite width is the same as its height
Give the grenade variables called MaxSize, MinSize, Peaked, and BouncesRemaining. (You can always change these to names that make more sense to you. All of these are Number, except for Peaked which is a Boolean)
When you spawn a grenade:
Set Grenade.MaxSize = GameHeight * 0.4 (play around with this value to get it the size you want)
Set Grenade.MinSize = GameHeight * 0.1 (again, whatever value works for you)
Now, I'm guessing that the size the grenade will start at will be a little bigger than when it hits the ground.
So, set Grenade.Height = Grenade.MinSize * 1.2
Set Grenade.Width = Grenade.Height
Make an event:
For Each Grenade | Rotate Grenade Clockwise (or counter clockwise) 500 * dt
If Grenade.RemainingBounces > 0 (you can try other numbers instead of 500)
| (subevent)
| If Peaked = False | Set Grenade.Height = Grenade.Height + ((Grenade.MaxSize - Grenade.Height) * dt * 300)
(300 might be too little or too big, so try different values)
| Set Grenade.Width = Grenade.Height
| (subevent)
| If Grenade.Height > Grenade.MaxSize * 0.99 | Set Peaked = True (if you
find that the grenade spends too much
time at its peak, try another number
like 0.97 or 0.95 instead)
| (subevent)
| Else | Set Grenade.Height = Grenade.Height - ((Grenade.MaxSize - Grenade.Height) * dt * 300)
| Set Grenade.Width = Grenade.Height
| (subevent)
| If Grenade.Height < Grenade.MinSize * 0.01 | Subtract 1 from Grenade.RemainingBounces
| Set Grenade.Peaked to False
| Set Grenade.MaxSize to Grenade.MaxSize * 0.5
(play around with this number, such as 0.4, 0.3, etc.)
| (subevent)
| If Grenade.RemainingBounces < 1 | (The grenade is done bouncing, so you could either
make it explode here, or it just stops)
Let me know how this works out for you