Gains Network, a decentralized leverage trading platform, has already raised over $750K and is looking to raise an additional $1M more. This will allow them to create their first product which they are excited about because of the potential it can bring for user growth.
Gains has just unlocked their first part of a $750,000 grant to grow GTrade.Gain is committed to creating an easy-to-use dectralized trading platform that can compete with the current financial markets giants like Wall Street and confuse them in the process.
Gains Network has been awarded a grant from the US government to grow their decentralized leveraged trading platform GTrade. The company is worth $750K and will be used for building out their network.
5th January 2022, Munich, Germany
Gains Network, the company behind gTrade, the next-generation decentralized leveraged trading platform, has submitted to the Polygon DeFi for $750,000 in funding to help it reach the next two important milestones on its plan.
Gains Network has set aside a $250,000 budget in MATIC tokens to assist it meet four major objectives over the next two months. The company’s first goal, which was established a month ago and is almost met only by organic development, is to maintain a daily trading volume of $30 million or more for at least 10 days, with a maximum per-trade collateral of $20,000, as enabled by its DAI vault. Additional milestones have already been met, including $4 million in GNS/DAI liquidity and $2 million in total value locked in the DAI vault.
While these goals were lofty when they were set, gTrade is now well on its way to achieving them, with an average daily trading volume of $20 million and a maximum per-trade collateral of $18,000, up from $6,000 before the DAI vault upgrade less than two weeks ago. It also has over $7 million in TVL in GNS/DAI LPs and has reached $1.8 million TVL in its DAI vault only four days after it opened.
Gains Network is developing gTrade, a decentralized leveraged trading platform that makes the most of the Polygon blockchain, a protocol and framework for creating and connecting Ethereum-compatible blockchain networks and an ecosystem of DeFi apps with lower transaction costs and faster speeds than Ethereum.
gTrade’s unique asset agnostic synthetic trading architecture, driven by the minting and burning of its native GNS token, provides significant benefits for traders, including leverage on median spot prices and the guarantee of 0% financing costs and 0% price effect.
With a completely on-chain architecture, the gTrade platform presently supports 43 cryptocurrencies with 5 to 150 times leverage, as well as 10 main Forex pairings with up to 1000 times leverage. Gains Network’s on-demand Chainlink Decentralized Oracle Network executes trades at the median spot price derived from several exchange sources, ensuring traders get the most competitive rates. gTrade also has the benefit of not needing liquidity for each pair, since the GNS/DAI pool and the DAI vault provide 100 percent liquidity for all trading pairings.
The gTrade platform, according to Gains Network, is now equipped to handle thousands of users and hundreds of millions of dollars in volume, so now is the time to expand. To meet its second milestone, which requires $100 million in daily trading volume for at least 10 days, $50,000 maximum per trade collateral, $10 million in GNS/DAI LPs, and $5 million staked in the DAI vault, the company’s ambitious roadmap calls for an additional $500,000 in funding from the Polygon DeFi.
Gains Network’s ultimate goal, according to the company, is to make gTrade and Polygon the go-to places for decentralized leveraged trading on the blockchain. “Working with Polygon on this trading reward program has been a wonderful delight for us.” Gains Network’s goal with gTrade has always been to provide a unique, decentralized, and fair leveraged trading solution. It’s past time for the rest of the world to know that Polygon is THE blockchain for leveraged trading!” said Sébastien, the company’s creator.
Gains Network Information
Gains Network is developing a cutting-edge DeFi environment on Polygon. It hopes to bring liquidity-efficient decentralized leveraged trading architecture to the Polygon blockchain with its gTrade platform.
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The “gains farm nft” is a decentralized leveraged trading platform that allows users to trade with no fees. GTrade has received $750K in funding from the Gains Network and will use it to grow their business.
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