Gains Network (GNS): Boosting Gains with DeFi Leveraged Trading

While there are many cryptocurrency trading platforms in use today, they often have limited functionality, high fees and various inefficiencies. These factors can limit a trader’s activities considerably and have a negative impact on how profitable the trades are. Gains Network’s gTrade is one of the many decentralized trading platforms that users can choose from, but it stands far apart from the others in terms of its architecture, functionality and user experience. Read on as we explore exactly what makes Gains Network a superior option for traders to use.

What Is Gains Network?

This decentralized leveraged trading system uses its liquidity pools for leveraging, and users do not actually need to borrow assets or possess assets in order to use them. In addition, users of Gains Network do not need to endure the hassle of KYC identification to get started. Instead, their activities are executed directly from their wallets. Gains Network also offers staking rewards, NFTs, one-click trading and future community governance for a superior user experience.

History of Gains Network

Currently, the Gains Network team is robust, and the entire team uses only first names or handles to identify themselves. The founder, known as Seb, worked exclusively on the project for its entire first year. As the project grew and its needs became more refined, Seb expanded its team. Gains Network’s full-stack developers are Nathan, Uri and Crumb. Front-end developers are Dreamersnat and Konrad, while Drew is responsible for backend development. These and other individuals are actively working on the current and upcoming evolution of Gains Network as a benefit to its current and future users.

What Does Gains Network Aim to Achieve?

The Gains Network team has maintained its focus on a few specific goals from day one. One of these goals is for the gTrade platform to be the most-used decentralized leveraged trading network in use today. It has also focused on producing excellent DeFi products on Gains Network with a staking mechanism and staking rewards. 

Using DAO governance, Gains Network supports community-generated proposals for future improvements to the platform. It also wants to take the web3 space to a higher level, such as through the establishment of its own metaverse and casino. Gains Network is already in a league of its own thanks to its gTrade architecture, and extensive development continues today to further innovate improvements and enhance its users’ experiences.

How Does Gains Network Work?

Users do not need to go through an intensive authentication process in order to benefit from Gains Network. All trades are processed through a single vault, so the process is more efficient. Because synthetic leverage is used on Gains Network’s gTrade, users do not actually borrow funds to take advantage of leveraging their trades. When an order is placed, positive trades are paid through the vault, and negative trades result in funds being deposited in the vault. To support accurate, real-time pricing, gTrade uses a custom Chainlink decentralized oracle network for median prices on each order. 

Features of Gains Network

Gains Network is designed to enhance staking, buying, selling and other activities for its users. Its functionality is rooted in several standout features and its unique gTrade architecture. What are the key features of Gains Network?

gTrade

At the core of Gains Network is the gTrade platform. This is a liquidity-efficient platform that uses synthetic architecture to produce a superior trading experience. Roughly 40 trading pairs are supported through gTrade. Users maintain full custody of their assets and trading is available for commodities, cryptocurrencies, stocks and forex. This platform also has more competitive fees than many of its counterparts, and it offers up to 150x leverage for cryptocurrencies and up to 1,000x for forex.

One-Click Trading

Gains Network supports one-click trading (1CT) once you create a 1CT wallet on the gTrade trading platform. After creating the wallet, you would have to approve it as a delegate through gTrade smart contracts so that it can execute trades on your behalf. Once this is enabled, you will no longer need to use your wallet to confirm transactions during trades. You can simply proceed with making your usual trading order which is then immediately processed as requested, reducing the time required to trade. 

GNS Staking

GNS staking offers users a great way to earn a passive income. In exchange for staking GNS tokens, users are rewarded through DAI generated from trading fees. Specifically, approximately 32.5% of the trading fees collected on the platform contribute to GNS staking rewards. As such, users are greatly incentivized to share the platform with their friends to increase the total trading volume, which in turn increases the amount of trading fees collected and ultimately results in them receiving more rewards. You can also earn a higher percentage of staking rewards by staking up to three Gains NFTs in the GNS pool. The specific boost in percentage is based on the tier of NFT being staked. For example, a bronze NFT qualifies for a boost of 2%, and a Diamond NFT qualifies for a 13% boost.

gDAI Vault

Gains Network uses a gDAI vault that serves as a conduit for trading activities. Traders who win receive their winnings from the gDAI Vault, and traders who lose send their losses to the vault. A portion of the trading fees for these transactions are stored in the vault. Users can stake their DAI tokens in this vault to be liquidity providers. They are then given gDAI tokens in exchange as a representation of the DAI tokens that they staked. By staking DAI tokens in the gDAI vault, users are rewarded with a share of the trading fees, which incentivizes them to continue staking their tokens in the vault. When users choose to withdraw their DAI tokens, the gDAI tokens are burned. 

GNS NFTs

When Gains Network was previously known as GFARM2, 1,500 NFTs were generated. These NFTs were split into five different tiers — Bronze (most common), Silver, Gold, Platinum and Diamond (rarest). While all holders of these NFTs have access to exclusive benefits, the tier of your NFT will determine the extent of the exclusivity. For example, all GNS NFT holders can enjoy reduced spread when trading, but those holding a Diamond NFT will enjoy a 35% reduction while those holding a Bronze NFT will only enjoy a 15% reduction. One of the most interesting benefits of holding GNS NFTs is that users can enjoy a bigger share of rewards when staking GNS tokens. 

Pros of Gains Network

With the unique gTrade architecture and features of Gains Network, users are able to take advantage of several key benefits. Collectively, these advantages could result in greater overall profitability for users compared to what they may achieve on other platforms. What are some of these benefits?

Leveraging Power

Traders can take advantage of up to 50x leveraging power on stocks, 150x leveraging power for crypto trades and 1,000x leveraging power on forex trades. This incredible leveraging power is supported by its decentralized vault, the native token’s multiple functions, gTrade architecture and its unique NFTs.

Lower Fees

While leveraging enables traders to make larger trades and to potentially see larger gains, fees can impact the overall financial gain associated with using a specific platform. By operating on the Polygon chain, Gains Network is not subject to the exceptionally high gas fees that some other chains are known for. Because of this, users are able to see a greater net return.

Cons of Gains Network

While Gains Network is a true standout in the world of trading exchanges, it is not a perfect platform. Its developers are currently creating fixes for the known downsides of the platform to further elevate the user experience moving forward. 

A Limit on Open Trades

Currently, Gains Network limits its users to having three open trades for each trading pair at a time. Because new orders cannot be placed and executed based on this limitation, some users may miss out on lucrative trading opportunities. However, this limit is set to be removed at some point in the future.

A Limit on Profits

There are also some current structures in place that may further limit a user’s profitability. For example, Gains Network has a maximum limit on the open interest for each specific pair. In addition, there is a 900% winning cap on trade collateral.

Gains Network Road Map

Gains Network has evolved significantly since its launch a few years ago. This trading platform initially operated on Ethereum before migrating to the Polygon chain. Now, it is available via Polygon and Arbitrum. Looking forward, Gains Network plans to introduce community governance through a DAO, and voting rights will be determined by the number of GNS tokens staked. Once the community DAO has been established, users will be able to contribute positively to the direction of future developments. Farther down the road, a casino may be developed as well. Gains Network also plans to remove its limit of three open trades for each trading pair so that traders can take full advantage of opportunities to make more profits.

GNS Tokenomics

The native token of Gains Network is GNS, which is a deflationary utility token. This token supports the operation of the gTrade platform through its liquidity efficiency. The platform’s original token was GFARM2, which was established on Ethereum. Later, the platform transferred to the Polygon chain and the GNS token was introduced. 

The initial distribution of the token was allocated with 5% to the development fund and 5% to the governance fund. The token is used to mint rewards and to maintain the vault’s stability. When the vault is appropriately over-collateralized, GNS is burned. This prevents inflation related to NFT bot rewards and staking rewards. To date, roughly 20% of GNS tokens have been burned. The initial supply was 38.5 million tokens. There is a supply cap of 100 million tokens. However, a mechanism is used to ensure that the supply will never reach 100 million.

GNS Price Prediction

The current price of the Gains Network native token is $9.25 (as of Feb 20, 2023). The all-time high price was $12.48, which recently occurred on Feb 17, 2023. AmbCrypto believes that the price of GNS by the end of 2023 may fall to $8.96. By 2026, however, the price may rebound to $11.42. It may then reach $19.90 in 2028 and $34.68 in 2030. It may continue to increase at a rapid pace after that point. The price projection for 2032 is $60.43, and $105.29 in 2034. 

On the other hand, PricePrediction is more bullish and predicts that GNS price will reach up to $17.31 at the end of 2023. It believes that GNS price will continue to increase to $54.82 in 2026 before doubling its prices every two years, growing to $121.79 in 2028, then $263.91 in 2030 and $566.90 in 2032.

Where to Buy GNS

GNS is available on multiple popular exchanges, including Bybit. Bybit is among the top exchanges today, and it has a hassle-free trading experience for its users. To get started with trading the GNS/USDT Spot Trading pair on Bybit, simply create a Bybit account and fund it with USDT.

Is GNS a Good Investment?

With availability through Bybit and other exchanges, buying GNS is a hassle-free experience. With GNS, you can access many of the features and benefits that Gains Network offers. For example, you can stake your tokens for GNS rewards and obtain GNS NFTs on the secondary market for a boosted return on staked tokens. More than that, Gains Network’s gTrade gives you access to an incredible amount of leverage. This leverage can help you to optimize your profits from trading activities. With these factors in mind, using the Gains Network could be advantageous for many traders and investors.

More than that, the price of GNS is expected to increase dramatically over the next decade. A long-term hold of GNS tokens is another way for users to potentially benefit from exciting financial gains. Of course, as with any other cryptocurrency, we urge you to do your own research before choosing to invest. 

Closing Thoughts

As a decentralized ecosystem complete with a decentralized leveraged trading platform, Gains Network is well-designed to facilitate trades of crypto assets and other common types of assets. With leverage of up to 1,000x available and low trading fees, users can potentially realize exciting gains through the use of this platform. This is the ideal time to experience the difference that Gains Network can make to your portfolio of crypto assets and other assets.

#Bybit #TheCryptoArk