Gains Network, the creator of next-gen decentralized leveraged trading platform gTrade has unlocked $250,000 to grow the network. This is part of a $750,000 grant the network has applied for from Polygon to enable it to grow the platform with a goal to make gTrade and Polygon the go-to destination for decentralized leveraged trading on the blockchain.
“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!” Gains Network Founder said.
The grant is to be used to hit the next two major milestones for gTrade. The initial $250,000 budget in MATIC will enable Gains Network to hit 4 major targets over the next two months. The targets include:
- sustaining $30 million+ in daily trading volume for at least 10 days
- $20,000 maximum per-trade collateral as enabled by its DAI vault
- $4 million in GNS/DAI liquidity, and
- $2 million of total value locked in the DAI vault
The first target has almost already been reached through organic growth while the last two have already been attained. Recently, gTrade has grown in an unprecedented manner, making it feasible for these milestones to be achieved as at when due. For instance, it has already reached an average of $20 million in daily trading volume, and an $18,000 max per-trade collateral, rising from just $6,000 before its DAI vault less than two weeks ago.
There is currently more than $7 million in TVL in GNS/DAI LPs and has managed to reach $1.8 million TVL in its DAI vault only 4 days after its opening. This growth is not surprising though, as gTrade is a super fast and liquidity-efficient decentralized leveraged trading architecture that explores Polygon’s capabilities to bring the best available services to its users.
Advantages that gTrade offers include leverage on median spot prices and the promise of 0% funding fees and 0% price impact. This is made possible because of the unique asset agnostic synthetic trading architecture powered by the minting and burning of its native GNS token.
There are currently 43 cryptocurrencies, with 5 to 150-times leverage and 10 major Forex pairs with up to 1000-times leverage, with a fully on-chain architecture. Trades are executed using the on-demand Chainlink Decentralized Oracle Network which offers traders the best possible prices averaged from multiple exchanges. Its unique feature is that it does not require liquidity for every trading pair, but rather liquidity for settlements on all trading pairs is backed by the GNS/DAI pool and the DAI vault.
With $250,000 already in use to grow the network, Gains Network still requires an additional $500,000 to get the network ready to handle thousands of users and hundreds of millions in volume. The next milestones to be reached with the remaining grant are $100 million in daily trading volume for at least 10 days, $50,000 max. per trade collateral, $10 million in GNS/DAI LPs, and $5 million staked in the DAI vault.
The goal according to the team is to make gTrade and Polygon the go-to destination for decentralized leveraged trading on the blockchain.
Check live crypto rates here
Start trading today – See our list of exchanges
I think everything said made a lot of sense. However, what about this?
what if you composed a catchier title? I ain’t saying your information isn’t good, but what if you added something to possibly grab folk’s attention? I mean Gains Network Commences Use of $750k Polygon Grant to Grow Decentralized Leveraged Trading Platform gTrade –
The Cryptonium – Cryptocurrency & Bitcoin – Rates & News is
a little vanilla. You ought to look at Yahoo’s front page and watch how they create post headlines to get viewers to open the
links. You might add a related video or a related pic or two to grab people interested
about everything’ve got to say. Just my opinion, it could
bring your website a little livelier.
My developer is trying to convince me to move to .net from PHP. I have always disliked the idea because of the expenses. But he’s tryiong none the less. I’ve been using Movable-type on a variety of websites for about a year and am anxious about switching to another platform. I have heard great things about blogengine.net. Is there a way I can transfer all my wordpress posts into it? Any kind of help would be greatly appreciated!
If some one desires to be updated with most up-to-date technologies after that he must be pay a quick visit this site and be up to date all the
Incredible points. Solid arguments. Keep up the good effort.
Today, I went to the beachfront with my kids. I found a sea shell
and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She put the
shell to her ear and screamed. There was a hermit crab inside and it pinched her
ear. She never wants to go back! LoL I know this is
completely off topic but I had to tell someone!
It’s appropriate time to make some plans for the future and it is time to be happy.
I have read this post and if I could I want to suggest you few interesting things or tips.
Perhaps you can write next articles referring to this article.
I want to read more things about it!
It’s an remarkable piece of writing in favor of all the web
viewers; they will get advantage from it I am sure.
Someone essentially help to make seriously
posts I might state. This is the very first time
I frequented your website page and thus far? I surprised with the research you made to create this actual put up incredible.
Greetings from Idaho! I’m bored to tears at
work so I decided to browse your site on my iphone during lunch break.
I really like the info you provide here and can’t wait to take a look when I get home.
I’m surprised at how quick your blog loaded on my mobile ..
I’m not even using WIFI, just 3G .. Anyhow, awesome site!
Your style is really unique compared to other people I’ve read stuff from.
Thanks for posting when you have the opportunity, Guess I
will just book mark this page.
This website was… how do I say it? Relevant!!
Finally I have found something that helped me. Thanks!
Superb website you have here but I was wanting to know if you knew of any discussion boards
that cover the same topics talked about here? I’d really love to be
a part of group where I can get opinions from other knowledgeable people that share the
same interest. If you have any recommendations, please let me know.
Hello there! I could have sworn I’ve been to this site
before but after reading through some of the post I
realized it’s new to me. Nonetheless, I’m definitely delighted I found
it and I’ll be book-marking and checking back often!
It’s an amazing piece of writing in favor of all the online
visitors; they will obtain advantage from it I am sure.
My spouse and I stumbled over here by a different web
page and thought I should check things out.
I like what I see so now i’m following you. Look forward to going over your web page yet again.