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Perp Dex's are taking over in #crypto in 2023
$GNS has had a string of successes lately: a revamped UX, a $gDAI Vault ATH, and a milestone $39,000,000,000 trading volume π
As someone who's fascinated by perp dex, I couldn't resist writing a thread about @GainsNetwork_io 𧡠π
$GNS has had a string of successes lately: a revamped UX, a $gDAI Vault ATH, and a milestone $39,000,000,000 trading volume π
As someone who's fascinated by perp dex, I couldn't resist writing a thread about @GainsNetwork_io 𧡠π
2/ This thread covers:
- Gains Network introduction
- Product Features
- Why gTrade is different from other perps?
- Growth
- Fees breakdown
- Tokenomics
- NFT use case
- Pros and cons
- Gains Network introduction
- Product Features
- Why gTrade is different from other perps?
- Growth
- Fees breakdown
- Tokenomics
- NFT use case
- Pros and cons
3/
$GNS is a decentralized perpetual exchange on #arbitrum and polygon. Its architecture allows for low trading fees and high leverages l.gains.trade/1e2b0602e
β 150x on crypto
β’ 250x on commodities
β 1000x on forex
β 50x on stocks
β 35x on indices
$GNS is a decentralized perpetual exchange on #arbitrum and polygon. Its architecture allows for low trading fees and high leverages l.gains.trade/1e2b0602e
β 150x on crypto
β’ 250x on commodities
β 1000x on forex
β 50x on stocks
β 35x on indices
4/ WHY gTRADE IS DIFFERENT FROM OTHER PERPS?
$DAI is used as collateral for leverage trading. Each asset has different transaction fees and a set max leverage.
$DAI is used as collateral for leverage trading. Each asset has different transaction fees and a set max leverage.
@GainsNetwork_io gTrade v6.3.2 introduces a shift from funding to borrowing fees, creating a more efficient approach to managing open tradesβ profit risk.
5/ GROWTH
β 45+ cryptos up to 150x
β Forex up to 1000x
β 0% price impact
β High liquidity efficiency
β Custom Chainlink DON
β Quick listings with synthetic architecture
β No order books.
β 45+ cryptos up to 150x
β Forex up to 1000x
β 0% price impact
β High liquidity efficiency
β Custom Chainlink DON
β Quick listings with synthetic architecture
β No order books.
Trading volume on the platform is climbing and just topped $39 billion.
gTraders keep raking in profits with constant protocol revenue and trading fee distribution, quick trades, and low fees - all thanks to Polygon and Arbitrum.
gTraders keep raking in profits with constant protocol revenue and trading fee distribution, quick trades, and low fees - all thanks to Polygon and Arbitrum.
Gains Network currently has
Total Traders: 13169
Total Trading Fees: ~25M
Total Trades: ~900K
gDAI Vault TVL: 51.3M
Total Traders: 13169
Total Trading Fees: ~25M
Total Trades: ~900K
gDAI Vault TVL: 51.3M
gDAI Vault hits jaw-dropping all-time high of $53.7M in just a month.
$38.9M from Arbitrum and $14.5M from Polygon vaults.
$38.9M from Arbitrum and $14.5M from Polygon vaults.
Arbitrum Airdrop and $10B Trading Volume:
gTrade received 1.93M $ARB in April, which will incentivize trading and contribute to the community's growth.
gTrade received 1.93M $ARB in April, which will incentivize trading and contribute to the community's growth.
6/ FEES BREAKDOWN
Closing a trade:
- 0.06% goes to gDAI stakers (LP)
- 0.02% goes to $GNS staker or NFT bots.
Referrers receive governance and project fee income from opening positions. This incentivizes existing users to contribute and attract new users.
Closing a trade:
- 0.06% goes to gDAI stakers (LP)
- 0.02% goes to $GNS staker or NFT bots.
Referrers receive governance and project fee income from opening positions. This incentivizes existing users to contribute and attract new users.
7/ TOKENOMICS
Utility Token: $GNS
Supply Cap: 100M tokens
Utilities:
1. Supports vault collateralization and stability
2. Rewards NFT bots and affiliates
3. Staking earns trading fees from specific orders
4. Governance
Utility Token: $GNS
Supply Cap: 100M tokens
Utilities:
1. Supports vault collateralization and stability
2. Rewards NFT bots and affiliates
3. Staking earns trading fees from specific orders
4. Governance
8/ NFT USE CASE
Assets have a default spread ratio (e.g. 0.02% spread on indices.)
Gains' NFT can lower the spread for traders who hold it.
Run a bot with an NFT to earn from triggering orders/liquidations
Boost yield in GNS staking.
Assets have a default spread ratio (e.g. 0.02% spread on indices.)
Gains' NFT can lower the spread for traders who hold it.
Run a bot with an NFT to earn from triggering orders/liquidations
Boost yield in GNS staking.
9/ PROS AND CONS
Pros:
β’ gDAI has zero delta exposure, as it's backed only by $DAI (unlike $GLP)
β’You can trade a variety of asset classes with low transaction fees.
β Liquidity providers can withdraw funds anytime.
Pros:
β’ gDAI has zero delta exposure, as it's backed only by $DAI (unlike $GLP)
β’You can trade a variety of asset classes with low transaction fees.
β Liquidity providers can withdraw funds anytime.
Cons:
β DAI adoption rate is lower than USDC & USDT
β DAI adoption rate is lower than USDC & USDT
Full disclaimer: This thread was created in partnership with @GainsNetwork_io
And that's it! If you enjoyed this thread
1. Follow me @cyrilXBT and turn on notifications so you don't miss out! π
2. Retweet the 1st tweet of this thread to help inspire others:
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2. Retweet the 1st tweet of this thread to help inspire others:
https://twitter.com/cyrilXBT/status/1664690986629611521?s=20
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