Gains Network to Expand Its Decentralized Leveraged gTrade Platform by Unlocking First $750,000 Grant
Creator of gTrade, the next-gen decentralized Finance (DeFi) leveraged platform, Gains Network, has submitted an application for a $750,000 credit from Polygon to strike the two significant milestones on the platform’s roadmap. It has unlocked its initial $250,000 budget in MATIC coins to ease the process of hitting four of its key targets in the upcoming two months.
Gains Network’s first milestone, which was planned in the previous month and is already on its way to reach through organic growth, involves sustaining over $30 million in daily trade volume for a minimum of 10 days and maximum collateral of $20,000 per trade as allowed by the platform’s DAI vault. Other extra targets involve $2 million locked up in the DAI vault and GNS/DEI liquidity of $4 million, which have already been attained.
Although the platform was quite ambitious while establishing these targets, recent sudden growth has ideally put gTrade on its way to achieving them, with an average daily trade volume of $20 million and a maximum of $18,000 per-trade collateral. These significant numbers have risen from a meager $6,000 before the update on the DAI vault two weeks ago. Gains Network currently has over $7 million in GNS/DAI LPs in TVL, and it has been able to hit $1.8 million TVL in the DAI vault. This was achieved in just four days after the opening of the vault.
Gains Network is developing a liquidity-efficient, super-fast decentralized leveraged trading structure, gTrade. It uses the Polygon crypto Blockchain, a framework and protocol for connecting and building Ethereum–based Blockchain network, and an enabling ecosystem for Decentralized Finance (DeFi) applications with faster speed and the lowest possible transaction costs than Ethereum.
The gTrade trading architecture offers massive benefits to all traders, including leverages on median spot prices and a guarantee of zero price impact and zero funding fees. These benefits are possible because of the unique digital asset synthetic agnostic trading structure run by the burning and minting of the platform’s native token, GNS.
Currently, gTrade offers around 43 crypto assets with a maximum leverage of 5–150 times, additional 10 major foreign exchange currency pairs with 1000 times leverage, and an entirely on-chain trading architecture. Trades on gTrade are precisely and specifically executed via the Gains Network’s Chainlink Decentralised Oracle Network on-demand at medium spot prices received from several exchange sources to ensure that the traders get the fairest prices in the market. The platform also benefits from functioning without liquidity for every currency pair since 100 percent of the liquidity for settling all currency pairs is powered by the DAI vault and GNS/DAI pool.
According to Gains Network, gTrade is set to provide service to thousands of clients and millions in trade volume. Therefore, the platform believes that it is time to expand and grow.
The platform’s ambitious roadmap would require additional funding of $500,000 from Polygon to achieve the second milestone, which would require $100 million in daily trade volume for a minimum of 10 days, maximum collateral of $50,000 per trade, $10 million in GNS/DAI LPs and a stake of $5 million in the DAI vault.
Gains Network’s ultimate objective is to make Polygon and gTrade the prime destination for decentralized leverage trading on cryptocurrency Blockchain. According to Gains Network’s Founder, Sébastien, it’s gTrade mission is to provide a fair, decentralized, and innovative solution to its clients for leveraged trading.
About Gains Network
A decentralized leveraged trading platform, Gains Network, is creating an innovative Decentralised Finance (DeFi) ecosystem on Polygon with the help of its gTrade trading platform. One of its main objectives is to introduce the liquidity-efficient leveraged trading framework to the Polygon crypto Blockchain.
