Fast-growing gTrade Platform Gets $250K Grant As It Closes In On First Major Milestones
05 Januar 2022 - 6:39PM
NEWSBTC
Rapid organic growth has put Gains Network’s decentralized gTrade
platform well on the way towards achieving the first major
milestones on its roadmap. Now, armed with $250,000 in funding from
the Polygon DeFi, its founders are confident it will soon hit its
second set of milestones. Gains Network is intending to build a
blazing-fast and liquidity-efficient leveraged trading platform
with a decentralized architecture on the Polygon blockchain, giving
investors the benefit of lower fees and faster trades. gTrade
currently offers 43 cryptocurrencies and 10 major Forex pairs. Its
asset-agnostic synthetic trading architecture, which is powered by
the minting and burning of its native GNS token, ensures investors
benefit from median spot price leverage, no fees and zero price
impact. The exchange also claims to offer the fairest prices, with
each asset trade executed at the median spot price across multiple
exchanges. gTrade also has the huge advantage of not needing
liquidity for each trading pair, with 100 percent liquidity
settlements on all pairs backed by the GNS/DAI pool and the DAI
vault. Those benefits are clearly not lost on crypto investors, who
have been flocking to gTrade in their droves. As a result, Gains
Network said it is already close to hitting its primary goal of
sustaining $30 million in daily trading volume for 10 days, with a
current average of $20 million traded through its platform each
day. It’s also on the verge of hitting its target of a maximum
$20,000 per-trade collateral enabled by its DAI Vault, with its
current max sitting at $18,000 per-trade collateral. Other targets
on gTrade’s roadmap include reaching $4 million in GNS/DAI
liquidity and $2 million total value locked in the DAI Vault. The
first of those objectives has already been reached, with gTrade
boasting $7 million in GNS/DAI liquidity, while the DAI Vault is
getting close with $1.8 million in total value locked. Gains
Network has now unlocked $250,000 worth of MATIC tokens with its
first Polygon grant, and once its initial goals have been reached
it will receive a second, $500,000 grant to help it hit its next
set of milestones. Those call for $100 million in daily trading
volume, $50,000 maximum per trade collateral, $10 million in
GNS/DAI liquidity and $5 million staked in the DAI vault. “It is a
great pleasure for us to work with Polygon for this trading
incentives program,” said Gains Network founder Sébastien. “Gains
Network’s mission with gTrade has always been to provide an
innovative, decentralized, and fair solution for leveraged
trading.”
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