Gains Network, a DeFi system on Arbitrum and Polygon, provides leverage, automated KYC, staking, one-click, and NFT trading with gTrade. Meanwhile, the GNS token's market cap is approximately $120 million. Explore further for more insights.
Gains Network is a DeFi universe comprising numerous products powered by Arbitrum and Polygon. At the heart of this ecosystem is gTrade, the flagship and widely recognized feature, which serves as a hybrid credit-ranking trading platform for both cryptocurrencies and traditional assets.
The Gains Network is top-rated for its highly configurable leverage offering unique features within its liquidity pools. A user does not need to own or borrow assets. The trading platform uses its liquidity pools to simplify this procedure.
Moreover, the Gains Network has ensured that the ecosystem participants do not suffer from the mandatory KYC before they start trading. KYC is automated and carried out when connecting wallets to the trading platform.
Gains Network users can also accumulate profits from staking programs, one-click trading, and NFT trading. The good news is that Gains Network is actively promoting the idea of decentralization and is committed to transferring community governance to ordinary users.
GNS Coin Utility
The DeFi trading project has a native GNS token that plays a role as a deflationary utility token. GNS is nothing less than the fuel for the gTrade platform, delivering the necessary liquidity for trading operations.
Since the first day of the Gains Network launch, developers have used GFARM2 tokens backed by Ethereum. Next, as the project evolved and new features were added, the DeFi trading universe moved to a more optimized blockchain solution, namely Polygon.
GNS token key indicators on Coinmarketcap as of June 7, 2023:
- Token name: GNS
- GNS price: $3.94
- Powered by: ERC-20
- Fully diluted market cap: $119,878,043
- Market cap: $120,051,906
- Volume (24h): $7,247,300
- Total supply: 30,453,619 GNS
- Circulating supply: 30,453,619 GNS
Today, the entire trading platform ecosystem revolves around the GNS token, powered by ERC20, while NFTs are ERC721 smart contracts. GNS holders can use the token supply to generate passive income through Gains' staking pools and enjoy DAI dividends.
Gains Network Origins
Seb is considered the forebear of the Gains Network, which was released in 2021. Seb is a top full-stack developer with excellent expertise in developing blockchain projects. The Gains Network team is also reinforced by experienced IT engineers, including big-league developers such as Crumb, Nathan, and Lunaman.
Currently, project architects are focusing on day-to-day tasks while paying significant project development time to implement new Gains Network features.
Initially, the developers decided to launch the gTrade platform on Polygon. Next, the trading terminal was also bridged with Arbitrum, which allowed it to bring new trends and functions to the trading ecosystem. The project architects point out that implementing new layer-2 solutions supported by Ethereum is a strategic decision that will allow the invention and promotion of new features at further stages of the Gains Network's development.
How Does Gains Network Run?
The first thing you should pay attention to is that the participants in the ecosystem are not burdened with the need to go through a clearly regulated KYC. Instead, the platform pulls data from wallets that users link to their accounts, significantly reducing the onboarding process.
Another equally important mechanic of the gTrade trading platform is that the Gains Network uses the concept of synthetic leverage. Simply put, users do not borrow real funds to enjoy all the benefits of trading with leverage in daily trades.
At the same time, the mechanism of synthetic leverage provides liquidity from the vault if the trade is a winning one. The funds are returned to the vault if a user encounters an opposing deal. Notably, gTrade can perform accurate live pricing. The platform uses a custom-made Chainlink Oracle network for each specific transaction.
In the meantime, the unique Gains Network architecture is based on three central features:
- gTrade is a trading terminal with a synthetic architecture to provide leverage. Currently, the platform supports over 40 trading pairs revolving around four major asset groups: crypto, forex, commodities, and stocks.
- 1CT (one-click trading). Once a user creates a 1CT wallet, the gTrade platform will open access to the one-click trading function. A user needs to link the profile wallet and give permission to employ it as a delegate that can trade on behalf of the user.
- Staking program is a type of earning that is perfect for those netizens who prefer to obtain passive income. The thing is that ecosystem participants can place GNS tokens in the staking program and receive dividends in DAI, which are generated from trading commissions.
Gains Network Funding
The project successfully secured a round of funding and obtained an investment of $250,000 from Polygon. The grant assistance was used to implement the essential functions of the gTrade terminal, which was supposed to operate on the Polygon blockchain.
Gains Network Roadmap
The platform has undergone numerous changes and improvements since its launch a few years ago. The project developers strive to expand decentralization and implement platform management through DAO. Simply put, GNS token holders will determine the evolution of new features and the Gains Network's development vector.
2022-2023 roadmap details:
- Q2 2022: Fully optimized website (UI/UX) | Bug bounty with ImmuneFi | Polygon incentives – 2nd trading contest) | TokenTerminal integration | Quickswap white label | More white labels and integrations | Open source website | More asset classes - Stocks.
- Q3 2022: More asset classes: Commodities & Indices | Custom market types cross-pairs (e.g., TSLA/DOGE, AAPL/BTC).
- Q4 2022: Protocol owned liquidity: 80%+ of LP rewards sent to $GNS staking | Social features | custom indices | gTrade v7 | Vault update: Stake vault/part of the vault | Zk rollup deployment | further decentralization
- Q1 2023: Exploring the Metaverse
The project's architects believe that once the community DAO becomes a reality, users can make a real contribution to the future development and popularization of the platform in the digital space.
Gains Network Tokenomics
The GNS token is used to mint rewards and maintain the proper liquidity level in the vault. If storage reserves are 100% secured, GNS tokens are burned to avoid inflation due to the need to pay out NFTs and staking rewards.
Gains Network allocated 5% of the pool to a dedicated development fund and another 5% for fund management initiatives. Thus, the project aims to provide the bulk of GNS tokens for use by the community and thereby promote the platform globally.
