DeFi trading platform, Gains Network launches leveraged trading of US stock prices!
03 Mai 2022 - 3:01PM
NEWSBTC
The decentralized finance (DeFi) ecosystem will introduce leveraged
trading of US stock prices via its gTrade trading platform. Gains
Network, a fully-fledged DeFi ecosystem, is launching its beta
version of on-chain leveraged trading of US stock prices on gTrade,
a decentralized trading platform. The beta launch will start off
with three US-listed stocks namely $AAPL, $GOOG, and $FB, a
statement from the Gains Network team reads. More US stocks are set
to be added to the platform following a successful beta testnet
period, it added. Announced Tuesday, May 3, the launch of leveraged
trading of US stock prices will allow users to trade prices of
stocks on-chain with leverage of up to 150x. This aims to boost the
liquidity of decentralized trading while marking a crucial
milestone in the DeFi space as the first-ever leveraged trading
DeFi platform for publicly traded stocks. “We are delighted and
honoured to be the project that takes DeFi a significant step
further by being the first to offer synthetic leveraged trading on
the spot price of US stocks,” Gains Network Founder Sébastien
comments. “Use cases are getting closer to what TradFi offers, and
the user experience is finally reaching acceptable levels for mass
adoption. It truly is the most exciting time to be in DeFi.” Built
on Polygon, the Gains Network provides an innovative full-suite
DeFi ecosystem including rewards via its deflationary token, $GNS,
deeply integrated non-fungible tokens (NFTs), staking pools that
provide value and high returns, and decentralized leveraged trading
via the gTrade platform. According to the team, the latest launch
of leveraged trading of stock prices will provide users with
cutting-edge technology, a user-friendly UI/UX, high leverage, and
a superior user experience. First, there will be no funding or
borrowing fees, allowing users to make as much profit as possible.
Secondly, users will be provided with high leverage of up to 150x,
which is also offered on crypto assets on gTrade. Finally, the
platform has integrated Chainlink’s decentralized oracles to
provide real-time and trustless stock prices to the platform. To
ensure smooth trading and increased liquidity, gTrade uses an
innovative synthetic leveraged trading architecture powered by the
$GNS utility token. The platform has two liquidity pools that help
execute trades for all assets listed on gTrade which reduces the
need to build out a liquidity pool for every pair. The leverage
provided to traders on the platform is synthetic, which unlocks a
much higher degree of liquidity efficiency. Furthermore, the
platform ensures reduced liquidation risk, no scam wicks, and no
price impacts on the trades. In the coming weeks and months, gTrade
will add support for virtually all US-listed stocks, opening up the
platform to more users. Every significant publicly traded stock
will be listed in the future and be available for leveraged price
trading. The leveraged trading of the three front-running US stocks
on gTrade ($GOOG, $AAPL, and $FB) went live on May 2nd, 2022 at
market open. The platform aims to launch the second batch,
containing 20 big US stock prices, on May 9th, 2022, a week from
today.
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