What is Gains Network (GNS)? Information About GNS Token

What is Gains Network? Learn about the operating mechanism and outstanding features of Gains Network along with detailed information about the tokenomics of GNS Token!

What Is Gains Network (gns)

What is Gains Network?

Gains Network is a Perpetual platform built and developed on Polygon and has now expanded to Arbitrum. The platform is geared towards user experience and creating liquidity for derivative assets. Thanks to its development on Polygon, the platform provides services with low fees and very fast transaction speeds.

Gains Network develops gTrade together with Polygon, MakerDAO, Chainlink and Arbitrum. GTrade directly provides leverage trading services to users with high leverage up to 150x for Crypto assets, 1000x for Forex and 50x for stocks.

Website interface: Gains Network 

Products of Gains Network

gTrade

The core product of Gains Network is gTrade. To date, there are more than 44 trading pairs supported through gTrade. Users maintain full custody of their assets and trading is available for commodities, cryptocurrencies, stocks, indices and forex.

gTrade interface

When trading on gTrade, traders will mortgage DAI into the gDAI Vault to open positions with any currency pair. This operation will be integrated right into the Gains Network trade interface.

Related: What is MakerDAO?

One-click trading

Gains Network supports one-click trading (1CT). After creating a 1CT wallet on the gTrade trading platform, the user will have to approve the wallet as an authorized person through the gTrade smart contract so that the wallet can perform transactions on the user’s behalf. Once this feature is launched, users will no longer need to use their wallets to confirm transactions during the transaction process. Users simply continue to make their regular trading orders, which will then be processed immediately as requested, reducing the time needed to trade.

GNS staking

Users can earn additional passive income through GNS staking. In exchange for GNS tokens, users will be rewarded through DAI generated from transaction fees. Specifically, approximately 32.5% of transaction fees collected on the platform contribute to GNS’s staking rewards.

nMlX+cEbZkqCsLv7tvUqJi7BgAAJgMmmUUhY+BAM+iLbwp4wAAAA

GNS Staking Pool

 Therefore, users are heavily incentivized to share the platform with friends to increase the total trading volume, which in turn increases the amount of trading fees collected and ultimately leads to them receiving more rewards.

Users can also earn a higher percentage of staking rewards by staking up to three Gains NFT in the GNS pool. The specific percentage increase is based on the level of NFT staked. For example, bronze-grade NFTs are eligible for a 2% boost and diamond-grade NFTs are eligible for a 13% boost.

gDAI Vault

Gains Network uses the gDAI vault as a conduit for trading activities. Winning traders will receive funds from gDAI Vault and losing traders their losses will be deposited into the vault. A portion of the transaction fees for these transactions are stored in the vault.

Users can stake DAI tokens in this vault to become liquidity providers to receive gDAI. By staking DAI in the gDAI vault, users will be rewarded with a portion of the transaction fees, which incentivizes them to continue staking their tokens in the vault. When a user chooses to withdraw DAI, gDAI will be burned.

GNS NFT

Since the Gains Network was called GFARM2, 1,500 NFTs have been created. These NFTs are divided into five different levels — Bronze (most common), Silver, Gold, Platinum, and Diamond (rarest).

5 levels of GNS NFTs

While all holders of these NFTs have access to exclusive benefits, the level of your NFT will determine the level of exclusivity. For example, all GNS NFT holders can get reduced trading spreads, but Diamond NFT holders will get 35% off while Bronze NFT holders will only get 15% off. One of the most exciting benefits of holding GNS NFT is that users can receive larger rewards for staking GNS.

Highlights of Gains Network

In addition to being a simple leveraged crypto exchange, Gains Network also focuses on developing other asset classes such as Forex, commodities, stocks and indices. Trading at gTrade also allows investors to use leverage up to 1000x, something very few other exchanges can offer.

Transaction fees at gTrade are also relatively reasonable, suitable for many traders who want to optimize trading costs. In addition, the Gains Network team does quite well in Marketing, helping the protocol attract a number of traders and maintain a certain trading volume on both Polygon and Arbitrum chains.

Currently, in the Leveraged Trading/Derivaties segment along with Gains Network, GMX has the leading position on Arbitrum.

GNS Tokens and Tokenomics