Why Gains Network’s gTrade is a Game-Changer in DeFi
gTrade recently crossed a staggering $15B in total volume traded, and they’re the world’s first DeFi ecosystem providing leveraged on-chain stock price trading.
gTrade is the first innovative product of Gains Network. It’s a decentralized leveraged trading platform that allows users to trade stocks, crypto, and forex.
Currently, gTrade features:
- 48 crypto pairs at up to 150x leverage
- 10 forex pairs at up to 1000x leverage
- 25 stock pairs at up to 150x leverage
- and still counting…
gTrade offers a seamless and efficient trading experience for traders. Plus, users maintain custody of their funds, get the highest leverages, pay competitive fees, and enjoy high liquidity & low impact on prices.
PS: You can read the thread version here
How it work!
Before we dive in let’s look at its structure & architecture. gTrade runs on Polygon Network, but uses Chainlink to power it’s leverage trading.
It would interest you to know that gTrade is the first to build a hybrid infrastructure that fuses Chainlink Price Feed with their custom-built DON. This allows the platform to provide real-time, aggregated prices for its suite of trading products.
When a trader opens a trade with DAI collaterals, it is deposited into the DAI vaults, irrespective of the trading pairs. However, the vaults aims at staying 10% over-collaterised.
To achieve this, if the vaults is above 10% over-collaterised, it uses the extra DAI to buy GNS (the native token) and burn it. On the flipside, it mints GNS and sells it in bits to refill the vaults. gTrade offers synthetic leverage, which is capital efficient.
Users that want passive rewards can stake their tokens on the GNS/DAI pools. It can be accessed on the polygon (MATIC) mainnet. They’ll earn $GNS rewards from the fees generated on gTrade and Quickswap.
On Fees
The fees defers according to the type of assets traded. And they’re calculated on the value of the total position size (leverage x collateral). See here to see a full list of their fees.
Tokenomics
- Market Cap: $52,852,064
- Initial Supply: 38,500,000
- Circulating Supply: 26,367,189
Approximately 32% of the initial token supply have been burnt which means that $GNS is deflationary. It’s deflationary with > 75% APR. This means that the APR averaged more than 100%, which is generated from user fees, not from inflation and incentives.
Team
The team is lead by Seb, the founder and developer. He’s the brain behind most of the the exploits of gTrade.
Roadmap
Gain Network has an aspirational long-term vision for gTrade, which shows their commitment to become the most adopted decentralized leveraged trading platform. See their roadmap here.
PSS: Always DYOR
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