Gains Network: Decentralized Trading, Tokenomics, and Future Developments
Introducing Gains Network: A DeFi Ecosystem
Gains Network is a versatile DeFi ecosystem operating on the Polygon and Arbitrum blockchains. Its flagship offering, gTrade, is a decentralized leveraged trading platform supporting crypto and non-crypto transactions.
Gains Network streamlines the trading process by bypassing the cumbersome KYC identification requirements, enabling users to conduct transactions directly from their wallets. This innovative system allows users to trade with leverage using liquidity pools, eliminating the need to borrow or own the underlying assets. Additionally, the platform provides staking rewards, NFT features, one-click trading, and plans for future community governance, all contributing to an enhanced user experience.
The Evolution of Gains Network: A Brief Overview
Gains Network has grown into a strong team with members who prefer to be known by their first names or online handles. The founder, Seb, dedicated a year to developing the project solo before expanding the team to meet its growing demands. Gains Network now boasts skilled full-stack developers Nathan, Uri, and Crumb, while Dreamersnat and Konrad manage front-end development. Drew focuses on backend development, and together with the rest of the team; they continue to drive the ongoing advancement and improvement of Gains Network for the benefit of both current and future users.
Gains Network’s Objectives and Aspirations
From the beginning, several vital objectives have driven the Gains Network team. One is establishing gTrade as the market’s leading decentralized leveraged trading platform. In addition, they are committed to delivering top-quality DeFi products within the Gains Network ecosystem, complete with a staking mechanism and rewards.
By employing DAO governance, Gains Network encourages the community to propose ongoing enhancements to the platform. Moreover, the team aims to elevate the web3 space with ambitious projects like creating their metaverse and casino. With its groundbreaking gTrade architecture, Gains Network has already set itself apart, and the team continues to work diligently on further innovation and user experience improvements.
Understanding Gains Network’s Functionality
Gains Network allows users to enjoy its benefits without extensive verification. The gTrade platform on Gains Network utilizes synthetic leverage, meaning users don’t need to borrow funds to leverage their trades. All transactions are managed through a single vault, streamlining the entire process.
When an order is executed, profitable trades receive payouts from the vault, while losing trades contribute funds to the vault. To ensure precise, up-to-date pricing, gTrade employs a custom Chainlink decentralized oracle network that provides median prices for each order.
GNS Tokenomics Overview
GNS, the native token of Gains Network, is a deflationary utility token that ensures the smooth functioning of the gTrade platform by enhancing liquidity efficiency. Initially, the platform operated with GFARM2 as its original token on Ethereum before transitioning to the Polygon chain and introducing the GNS token.
GNS is utilized to mint rewards and maintain the stability of the vault. When the vault is sufficiently over-collateralized, GNS tokens are burned to prevent inflation from NFT bot rewards and staking rewards. To date, approximately 20% of GNS tokens have been burned. During the initial distribution, 5% of the tokens were allocated to the development fund and another 5% to the governance fund. The initial supply comprised 38.5 million tokens, with a maximum supply cap of 100 million tokens. However, a mechanism is in place to ensure that the total supply stays within this cap.
Gains Network Evolution and Future Plans
Over the past few years, Gains Network has undergone significant development. Initially operating on Ethereum, the trading platform transitioned to the Polygon chain and is now accessible through both Polygon and Arbitrum. Gains Network will implement community governance via a DAO in the future, where voting rights will be based on the number of staked GNS tokens. Once the community DAO is in place, users can actively influence the platform’s future trajectory.
Further, plans include developing a casino and removing the current limitation of three open trades per trading pair, enabling traders to capitalize on profit-making opportunities fully. As Gains Network continues to evolve, it remains committed to enhancing the user experience and expanding its offerings.
Considering GNS as an Investment Option
Acquiring GNS is a straightforward process through Bybit and other exchanges. Owning GNS grants access to various features and advantages provided by the Gains Network. For instance, you can stake tokens to earn GNS rewards and purchase GNS NFTs on secondary markets for enhanced returns on staked tokens. Moreover, Gains Network’s gTrade platform offers significant leverage, enabling you to maximize your trading profits potentially. These aspects make Gains Network appealing to many traders and investors.
Holding GNS tokens long-term could present users with significant financial growth opportunities. Additionally, the value of GNS is anticipated to rise substantially in the coming decade. However, as with any cryptocurrency, conducting thorough research before investing is crucial.
In Conclusion
Gains Network, a decentralized ecosystem featuring a decentralized leveraged trading platform, is expertly crafted to enable trades involving crypto assets and various other asset types. With access to up to 1,000x leverage and affordable trading fees, users have the potential to achieve substantial gains by utilizing this platform. Now is the perfect opportunity to explore the impact Gains Network can have on your crypto asset portfolio and other investments.
Hey there, you cool cats! 😸
Just a quick heads-up: This article was crafted with a li’l help from my AI buddy, ChatGPT. We teamed up like PB&J, but I made sure my prompts were super detailed. 😉
Happy reading! 📖✌️
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