Gains Network Unlocks First Part of $750K Grant To Grow Decentralized Leveraged Trading Platform gTrade -Breaking
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Gains Network Unlocks First Section of $750K Grant For Growing Decentralized Leveraged Trade Platform gTradeGains Network is the creator of the next generation decentralized, leveraged trading platform gTrade. It has requested $750,000 financing from Polygon DeFi to reach the two next major milestones.
Gains Network now has $250,000 of MATIC tokens as an initial budget to reach four important targets in the coming months. This milestone is the first, set one month ago. The goal includes maintaining $30 million+ daily trading volume over at least 10 consecutive days and $20,000 per trade collateral, as allowed by the DAI vault. Other targets include $2 million total DAI vault value and $4 million GNS/DAI liquidity.
Although these goals were ambitious at the time, gTrade’s recent growth has put it well ahead of them. Currently, gTrade trades $20 million per day and holds $18,000 in collateral. This is up from $6,000 just two weeks before the DAI vault upgrade. In addition to having more than $7million in TVL for GNS/DAI LPs, gTrade has also managed to hit $1.8million TVL within its DAI vault in just four days.
Gains Network is currently building gTrade. A superfast, liquidity-efficient and fast decentralized leveraged trade architecture.
Traders have many advantages with gTrade, such as leverage at median spot prices and the promise to 0% funding fees. The unique, asset-agnostic, synthetic trading architecture that is powered by the burning and minting of the native GNS token, has 0% price impact and 0% financing fees.
Currently the gTrade platform has 43 cryptocurrencies available with between 5 and 150-times leeway, as well 10 Forex pairs that offer up to 1000 times leverage. The platform is fully on-chain. Trades are precisely executed through Gains Network’ on-demand Chainlink Decentralized Oracle (NYSE:) Network at the median spot price sourced from multiple exchange sources to ensure traders receive the fairest possible prices. The advantage of gTrade is that it doesn’t require liquidity for every pair. 100% liquidity to settle all pairs on any trading pair is provided by the GNS/DAI Pool and the DAI vault.
Gains Network is confident that the gTrade platform can handle thousands of traders and millions of volumes. It is ready for these users, Gains Network says. The Polygon DeFi will provide $500,000 additional funding to help it reach the second milestone. It requires $100 million per day in trading volume over at least 10 days. Maximum $50,000. Per trade collateral, $10,000,000 in GNS/DAI LPSs and $5,000,000 staked into the DAI vault.
Gains Network stated that its ultimate goal is to make gTrade, Polygon and other decentralized trading platforms on blockchain the main destination for leveraged digital trading. “It is a great pleasure for us to work with Polygon for this trading incentives program. Gains Network’s mission with gTrade has always been to give an innovative, decentralized, and fair solution to leveraged trading. It is now time for the world to realize that Polygon is THE blockchain to trade with leverage!” told us Sébastien, their founder.
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