Gains Network Partnership Is Live
GNS, gDAI and SPA rewards are LIVE on Demeter
Gains Network and SperaxDAO have kicked off their partnership by providing GNS, SPA and gDAI to boostrap the gDAI/USDs pool. The rewards can be claimed by staking a gDAI/USDs LP token on Demeter (by Sperax).
gDAI is the collateral token for the Gains Trade exchange. DAI is deposited into the gDAI vault to be used as collateral traders. gDAI remains roughly $1 collects yield based on the PnL of traders on Gains Trade exchange (comparable to GLP in the GMX ecosystem).
According to Gains: gDAI Vault is a DAI vault following ERC-4626, a standard API for tokenized yield-bearing vaults that represent shares of a single underlying ERC-20 asset. For this vault, gDAI shares represent the underlying DAI asset.
The vault serves as the counterparty to all trades made on the platform:
When traders win (positive PnL), their winnings are received from the vault.
When traders lose (negative PnL), their losses are sent to the vault.
In exchange, the vault receives a portion of trading fees. These fees are proportionally split among gDAI shares, incentivizing stakers to stay in the vault.
This vault functions as a lucrative stablecoin farm for LPs, but also provides two additional benefits to the Arbitrum ecosystem.
Arbitrage
Traders now have the ability to arbitrage this pool against the gDAI vault. Users can mint gDAI at gains.network/vault, the price to mint depends on many factors which can be found here.
If gDAI is trading above the Vault price:
1) mint gDAI on gains.network/vault
2) sell gDAI for USDs app.sperax.io/swap
3) capture profit
If gDAI is trading below the Vault price:
1) buy gDAI on app.sperax.io/swap
2) redeem gDAI on gains.network/vault
3) capture profit
Routing
gDAI is now paired against USDs, which means that a user holding gDAI can swap gDAI directly for any token that is paired against USDs on Uniswap v3. All Demeter partner tokens including GMX, PLS, SDL, L2DAO, SPA and soon VELA, RAGE and more are tradable directly from gDAI.
Trade demeter tokens today with gDAI at app.sperax.io/swap
About Us
Sperax USD is a stablecoin and yield automator on Arbitrum. Hold $USDs and earn Auto-Yield. Stake $SPA to govern the collateral investment strategy.
Read more at sperax.io and join the Sperax community!
