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Gains Network unlocks $250K in MATIC to further gTrade

By:
on Jan 5, 2022
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  • Gains sustained $30 million+ in daily trading volume for 10 days
  • Other milestones include $2 million of total value locked
  • gTrade averages $20 million in daily trading volume

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Gains Network has applied for $750,000 in financing from Polygon to achieve two further milestones on its roadmap surrounding gTrade, their next-generation decentralized leveraged trading platform, Invezz learned from a press release.

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4 key targets in next two months

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Gains’ initial budget of $250,000 in Polygon’s native token (MATIC/USD) will help it achieve a series of targets within the next two months. The first includes sustaining $30 million+ in daily trading volume for at least 10 days and $20,000 maximum per-trade collateral as enabled by its DAI vault. They have almost reached this milestone by organic growth.

Other milestones include $2 million of total value locked in the DAI vault and $4 million in GNS/DAI liquidity. Both have been achieved.

Average of $20M in daily trading volume

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Currently, the platform gTrade averages $20 million in daily trading volume. It reached $1.8 million TVL in its DAI vault only 4 days after its opening and more than $7 million in TVL in GNS/DAI LPs.

The best use of Polygon blockchain

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gTrade is a rapid, liquidity-efficient decentralized platform making the best use of the Polygon blockchain, a framework and protocol for developing and connecting Ethereum-compatible (ETH/USD) blockchain networks and an ecosystem of DeFi apps with higher speeds and lower transaction costs than Ethereum.

Advantages of gTrade

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The platform offers leverage on median spot prices, zero funding fees, and zero price impact through the minting and burning of its native GNS token. It provides access to 43 cryptocurrencies and 10 major Forex pairs with leverage of up to 1000x.

Gains’ ambitious roadmap involves $500,000 in funding from Polygon DeFi to achieve $10 million in GNS/DAI LPs, $100 million in daily trading volume for at least 10 days, $5 million staked in the DAI vault, and $50,000 max. per trade collateral.

Sébastien, the founder of Gains Network, commented:

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!

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