Leveraged Trading has long been regarded as a complex component of the DeFi required to complete an ecosystem. Gains Network is a project in the derivatives area of Polygon and Arbitrum that caused a stir at the end of last year, is thought to have a novel operating strategy, and has drawn a sizable user base. Gains Network, a DeFi trading platform, has outperformed the entire crypto market, with profits rising steadily. Additionally,thedailytradingvolumeofGNS,thenativetokenoftheplatform,hasoccasionallysurpassedthatofGMX,thetokenofthedominanttradingplatformonArbitrumatthetime. Using Godleak, let’s learn more about the conceivable DeFi project Gains Network!

What Is Gains Network?

Gains Network is a decentralized derivatives trading platform that was first launched on the Polygon network and has since quickly expanded to other decentralized blockchain networks like Arbitrum. Gains Network has recently attracted a large number of users as a result of that.

Coin/token derivatives traders can use up to 150x leverage and 1000x on forex trades on Gain Network’s gTrade exchange.

Leveraged trading on the Gains Network is powered by aggregator assets and a decentralized lending protocol, and its leverage mechanism saves users money on loan fees they would otherwise pay on other leveraged trading platforms.
The GNS token, a native token, serves as the foundation for Gains Network’s financial system. Tokens are used for Gains Network activity administration and DAO voting.
The goal of Gains Network is to develop the “most palatable decentralized leveraged trading platform.” As a result, the project creates gTrade, a decentralized leveraged exchange that is effective, strong, and easy to use.

Users can increase their leverage when trading up to:

150x when trading cryptocurrency; 1000x when trading foreign exchange;

35x when trading commodities; 100x when dealing with securities.
On May 2, 2022, Gains Network made gTrade available on the Polygon blockchain. Since then, the exchange has handled over 832,606 trades from over 12,565 different traders, resulting in trading activity worth over $23,527,882.

IIn comparison to other projects in the same field as GMX, GNS supports a large number of trading pairs. Furthermore, the combination of traditional financial markets and cryptocurrency aids in customer diversification. One of gTrade’s benefits is its capability to update trading pair prices in real time multiple times per second. Gains Network and Chainlink worked together to implement DON (Decentralized oracle network) as opposed to the standard Chainlink Oracle, which only updates data every few minutes. Gains Network sends a request to 8 nodes when a trader places an order, and these nodes compile prices from the APIs of 9 different exchanges and display the median price on the platform, minimizing the true difference and maximizing trader profit.

According to the Gains Network team, they intend to introduce this product to other blockchain networks. Most recently, Arbitrum was selected as the project’s second home. The public has been waiting patiently for the first airdrop from Arbitrum, the top Layer 2 of Ethereum.

What makes Gains Network unique?

Regarding decentralization, leverage, and costs, Gains Network performs better than other crypto derivatives platforms.

To assist the ecosystem in thriving, gTrade is at the heart of the overall project ecosystem and features an efficient DAI vault management approach.

The platform, in addition to being a solely leveraged crypto exchange, is working on expanding additional asset classes such as FX, commodities, equities, and indices. Only a small number of other exchanges offer investors the leverage of up to 1000x, but gTrade does.

Many traders seeking to reduce trading costs find gTrade to be appealing due to its reasonable transaction fees. The Gains Network team also does a great job of marketing the protocol, promoting it to traders, and ensuring that a predetermined volume of transactions is maintained on both the Polygon and Arbitrum chains.

GMX now holds the top position on Arbitrum in the Leveraged Trading/Derivatives area alongside Gains Network.

Gains Network aspires to dominate the market in the future as a decentralized trading platform. Furthermore, the project wishes to become more decentralized while using GNS (or veGNS) tokens for management. Profits from the project will be distributed evenly among the staking pools.

The project also hopes to spread horizontally so that anyone can offer suggestions and solutions to help Gains Network increase its revenue. If the response is reasonable, the project will receive funding.

Gains Network may develop and expand into industries like gaming and the metaverse in the future, helping to diversify investment options for investors.

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How does it work?

Orders will be filled on the DAI stablecoin collateral for any trading pair once a user initiates a trade. The gDAI token, which serves as evidence of the original DAI collateral, will then be returned to the user. Additionally, users will benefit from a portion of the earnings from the transaction fees paid by other traders during the gDAI holding period.

When using leverage, it uses synthetic assets and is backed by DAI vault and GNS tokens. To pay traders’ profits (if positive) or recover DAI from trades where their index is negative, DAI is taken from the vault.

Gains Network’s use of DON, a decentralized Oracle network to support all on-chain transactions, sets it apart from other derivatives exchanges the most. As a result, DON allows users to launch trading on the gTrade platform by simply connecting a basic wallet.

The trader’s money stays in their wallet and can only be moved with the wallet owner’s consent. Asset prices on the platform are powered by a modified version of Chainlink’s DON.

Features

gTrade

In addition to the five asset classes mentioned earlier, gTrade is a decentralized leveraged trading platform that offers trading in cryptocurrencies (44 trading pairs), forex (17 trading pairs), US stocks (23 trading pairs), US indices (4 trading pairs), and commodities (2 trading pairs). On gTrade, all leveraged transactions are entirely executed on-chain using Chainlink Oracle and the most recent Chainlink DON functionality.

Traders must mortgage DAI into the gDAI Vault in order to open positions on gTrade with any currency pair. The Gains Network trading interface will directly integrate this procedure.

After collateralizing the DAI, which is confirmation of the initial amount of DAI pledged, the trader will receive the gDAI back. Users have a right to a portion of the transaction fees that traders pay to gDAI during the gDAI holding period; these fees will be paid to gDAI directly.

In addition to the standard DAI deposit to receive gDAI back, traders can deposit DAI and then lock gDAI to gain additional benefits (buying and buying gDAI at a cheaper price). The trader will receive gNFT as proof that the gDAI was locked. The locked gDAI will continue to earn interest as normal.

Staking Pools

Traders can deposit DAI and then lock gDAI to receive additional benefits (buying and buying gDAI at a lower price) in addition to the standard DAI deposit to receive gDAI back. Holders of GNS can stake or farm here in order to increase the return on their investment in this currency. A bonus will be generated for each trade made on gTrade, and it will be paid to GNS Stakers in DAI directly.

In addition to the pool for GNS, Gains Network also offers pools for DAI, GNS NFT, and Farming Pool for GNS/DAI. But, these pools are no longer operational.

GNS NFTs

GNS’s NFT, the GNS NFT, is what gives the project its unique identity. The benefits and rarity of this NFT are arranged in the following hierarchy: bronze, silver, gold, platinum, and diamond. The ecosystem of the project and users who want to stick with it for a long time depend on GNS’s NFT.

There are 1500 NFTs in total, each offering holders special deals.

GNS NFT helps increase interest by providing liquidity or single-sided staking. Without NFT, the APR (or APY if compounding daily) shown in the staking section represents the user’s average APR based on the interest accrued over the prior week.

TypicalbenefitsofowningGNSNFTinclude: Reducedspreadfee(Minorfeepaidtotheexchange)whentradinginthefollowingmetals:15%forbronze,20%forsilver,25%forgold,30%forplatinum,and35%fordiamond Bonus multiplier for staking GNS concurrently with NFT: +2% (Bronze), +3% (Silver), +5% (Gold), +8% (Platinum), and +13% (Diamond). It is allowed to stake up to 3 NFT to accumulate the bonus coefficient. It is allowed to run bots to receive rewards from liquidating other traders’ positions.