Hi Defi! It’s been a crazy year and I would like to **introduce** and or **update** to those of you familiar with [Gains.Trade]( Gains is a synthetic leverage trading dex open to all countries and continents. Since I last posted about GNS it has had tremendous growth in the bear market, moving from around .75 cents in May 2022 to 3.35 (todays price). We have grown because the product has grown. We have more users, features, and adoption than ever. Let’s break down some of the benefits of gTrade:
Over 70 Assets: Stocks, Crypto, Forex
Up to 150x leverage
Guaranteed Stop Loss
One Click trading (**optional** for instant trades bypassing MM or Ledger)
Take profit orders
No region banning
No scam wicks (price feed is from 7 different sources)
Apy comes directly from trading fees and is paid in DAI. **APY is not paid from minting**.
Two **fee incentivized** pools:
* **Opening a trade: 0.08%**
* Project Fund (0.03%)
* Dev Fund (0.03%)
* If referral link used: 0.015-0.02% is given to the referrer (taken from project fund and dev fund rewards).
* Limit orders: NFT Bots (0.02%)
* Market orders: Single Sided Staking (0.02%)
* 2.**Rollover & Funding fee while trade is open**
* 3.**Updating a stop loss: 0.015% (because of guaranteed execution)**
* 4.**Closing a trade: 0.08%**
* Ecosystem (0.06%)
* 50% to GNS Single Sided Staking (updated today was 40%)
* 50% to DAI vault – (Updated Today was 40%)
The two vaults work together to secure the capital to power the trading platform.
The DAI vault functions as the first stop for traders Dai. Losses fill the vault. Wins drain the vault. Most traders lose in leverage, so the vault is usually overcollateralized. Should the vault become undercollateralized DAI stakers should remain in the vault as removing your dai will bear a loss. DAI stakers receive fees for their stake in more DAI. Furthermore, stakers receive a receipt token known as gDai which can then be used as a stable coin financial primitive.
GNS token is the backstop of last resort. Should the vault become undercollateralized, GNS is minted and sold to refill the vault. It is rate controlled and can only mint 20% of its supply in a year. Once the vault is overcollateralized, 1% of all fees (currently) are used to burn the GNS token. The GNS Vault and stakers are paid in DAI.
**How It All Works:**
The mechanism of action is thus: users place a trade and sign a transaction. **Optionally, traders can use the one click trading feature to trade instantly without signing**. Traders position goes positive/wins, dai vault pays them their dai. Since the dai vault is a buffer it has a range where no action is taken: at 100-Infinity% full the dai vault simply pays the user and refills itself on fees and liquidations. If too many traders win and it sinks below 100% of staked collateral then it mints GNS and sells it for DAI and refills the vault. Over a year of data shows it has been deflationary with nearly a 20% reduction in GNS supply. Holders of GNS token enjoy price appreciation by deflation plus revenue from token staking.
The development team was one man for the better part of a year, but has expanded to 11 total team members. The main dev is always available in the TG and often troubleshoots users’ issues right in front of everyone. The roadmap is ambitious but realistic. The dev works every day even on weekends. To quote him, he’s attempting to build the decentralized Robin hood or e Toro.
Gains has been on Polygon for over a year. Having just launched on Arbitrum on Dec 31st 2022 the next item on the roadmap is to rebuild the bot system to make anyone who holds a gains network NFT able to capture orders and benefit from botting fees directly. This will allow gains to become even more decentralized as currently there is a experience gap that must be overcome to successfully bot and get revenue from capturing orders. The bot revamp will allow anyone with an NFT to produce revenue from capturing orders regardless of coding skill.
In addition to that, our marketing department has onboarded a few users who will be sharing us on their social media circles and marketing has multiple ongoing developments.
Gains leader is anonymous and only known by his first name. If he were to disappear due to any unforeseen circumstances the platform would stagnate. Currently the protocol is Multi Sig.
There is a risk of smart contract exploitation but so far the protocol has proven solid and every smart contract release is Audited by Certik and now Halborn
Risk of server downtime impacting the performance of the platform. Traders have lost trading data on occasion due to various downtime events, but these events are short lived due to devs having an oncall system.
**Most Recent Audit:** [Halborn](
Risk of market conditions draining the pool: on the short term traders can win and win big, causing minting of GNS which causes sell pressure. On the whole these are temporary events but they do still occur.
Chain congestion is another risk by which the customer experience is impacted. Numerous times Polygon has had issues with block re-orgs or pure congestion (sunflower farms) where traders flooded the TG to seek answers as to why trades did or didn’t post and why SL didn’t execute. The polygon infrastructure has had a true impact on trading for end users and Seb has worked tirelessly to optimize the execution of smart contracts on the platform but sometimes even the efficiency of gains is bottlenecked by Polygon. I personally believe this is the biggest threat to gains long term success if polygon cannot make a clean and efficient blockchain.
So far the launch on Arbitrum has been smooth and no outages have occurred, but certainly arbitrum can cause issues as well.
With a market cap hovering around 100 million, we have room to grow. The team has been through hell and back fixing bugs and managing risk. Unlike other green protocols that promise fee less trading or other such shenanigans, Gains has experience to understand where risks are and how to manage the trading risk to deliver a fair platform for stakers and traders. When GMX GLP was drained a few months ago, we experienced the same attack on the platform. Ultimately, it was unprofitable for the attacker as our dynamic spread managed the platform risk while making the attacker pay more than what his manipulation was worth. So while the market is FLOODED with new DEX, they dont have experience with all the things the users will do to extract value from their vaults.
Gains knows a thing or two because we have seen a thing or two. We are gFarmers… Bum ba-dum bum bum bum bum. (we were originally gFarm before the name change) GROAN I KNOW I WILL STOP.
My position on GNS is as a token holder and volunteer moderator on Gains TG and Discord. I have a greater than 20k position on the network. I am not part of the team simply a investor sharing a good product for the defi community, one which I believe has long term growth potential.
Beware of scams:
Pleased be advised that any telegram groups or tweets from gains offering airdrops are a scam. GNS is not being air dropped and we have had users fall victim to these scams which copy the official group announcements and official tweets.
Most Recent Medium Describing Arbitrum [Here](
Gains Documentation: [Here](
2 thoughts on “Gains.Trade: A KYC Free Leverage Dex now on Arbitrum”
Not to throw shade on polygon but fk me trading is so much smoother on arbi. Bit higher position requirements due to increased gas costs but I think it’s worth it.
Looked into gains a while back. Didn’t invest because of it being on Poly only. Now that’s it on Arbitrum, I’ll have to look into it again.