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Gains Network (GNS) is a decentralized derivatives trading platform built on the Polygon network and expanding to other decentralized networks. It offers leveraged trading with up to 150x leverage on cryptocurrencies and stocks and up to 1000x on forex. The platform operates on synthetic assets and a decentralized lending protocol, saving users loan fees. The GNS token is the native token, supporting the financial system and enabling DAO voting when the decentralized government goes live. It also incentivizes liquidity pools and has a deflationary mechanism through token burning and minting.
Gains Network (GNS) is a decentralized finance (DeFi) project that offers a leveraged trading platform called gTrade. The GNS token is the native token of the platform and serves several purposes:
Utility Token: GNS is used to support the liquidity efficiency of the DAI vault and serves as a backstop for traders. It also helps in recollateralizing the gDAI vault.
Governance: GNS token holders will play a crucial role in the decentralized autonomous organization (DAO) that the platform is transitioning towards. They will be able to stake their tokens to receive veGNS, which can be used to vote on proposals.
Liquidity Incentives: GNS is used to incentivize liquidity providers in the GNS/DAI pool, which supports the DAI vault and provides liquidity for traders. This pool currently holds over $5 million worth of locked assets.
NFT Benefits: Gains Network has issued 1500 NFTs that can be used on the platform. These NFTs provide benefits such as reduced spreads and boosted staking rewards, depending on the category of NFT held.
Reward Mechanisms: GNS is used to reward users through various mechanisms, including the DAI vault and liquidity pools. Users can earn DAI rewards and GNS tokens by participating in these pools.
Trading: GNS can be traded on major exchanges like MEXC Global and Binance, allowing users to buy and sell the token.
Overall, the GNS token is integral to the functioning of the Gains Network ecosystem, supporting its financial system, governance, and liquidity management.
To store Gains Network (GNS) tokens, you have several options:
Binance:
- You can store your GNS tokens in your personal crypto wallet or hold them in your Binance account.
KuCoin:
- You can store GNS in your KuCoin account or transfer them to non-custodial wallets for added security.
Cold Wallets:
- The safest way to store your GNS tokens is by using "Cold Wallets," which are offline wallets that provide maximum security against hacking and other online threats.
These options ensure the secure storage of your GNS tokens, allowing you to manage and utilize them as needed within the Gains Network ecosystem.
To buy Gains Network (GNS) tokens, follow these steps:
Choose a Platform: Select a reputable cryptocurrency exchange such as MEXC, KuCoin, Binance, or CoinCarp. Each platform offers different methods to purchase GNS tokens.
Create an Account: Register for a free account on the chosen exchange's website or mobile app. Verify your identification as required by the exchange.
Deposit Funds: Add a payment method such as a credit card, debit card, or bank transfer to deposit fiat currency into your exchange account.
Buy GNS: Navigate to the GNS token page on the exchange and select the desired payment method. You can buy GNS directly with fiat currency or first purchase a stablecoin like USDT and then use it to buy GNS.
Store GNS: Once purchased, you can store your GNS tokens in the exchange's wallet or transfer them to a non-custodial wallet for added security.
For detailed instructions, refer to the specific exchange's guide:
- MEXC: Click on the "Buy Crypto" link and follow the prompts.
- KuCoin: Create an account, secure and verify it, then add a payment method and buy GNS.
- Binance: Register, choose a payment method, and buy GNS with USD or other supported currencies.
- CoinCarp: Follow the step-by-step guide on the CoinCarp website.
The history of Gains Network (GNS) dates back to the beginning of 2022, when it started trading around 50 cents. Since then, the token has seen significant price movement, defying the bear market trends that affected many other cryptocurrencies in 2022. Currently, GNS sits comfortably at a higher price point, with its all-time high above $10. This upward trend can be attributed to the token's deflationary nature, which is reflected in the number of tokens in circulation.
Gains Network (GNS) is a decentralized leveraged trading platform that operates on a synthetic asset system. This means that all assets traded on the platform are represented as synthetic assets. The platform uses a combination of DAI and GNS tokens to facilitate trading and manage liquidity.
Trading MechanicsTo execute a trade, users deposit DAI into the platform's DAI vault. They can then go long or short on various assets, such as cryptocurrencies, large-cap U.S. stocks, and major currency pairs, with up to 150x leverage on crypto and stocks and 1000x on forex. The DAI vault serves as the primary collateral and liquidity pool for the platform.
Role of DAI and GNS TokensDAI is the primary collateral and liquidity pool, while GNS tokens function as the utility token that powers the platform's unique tokenomics. The GNS token plays multiple roles, including supporting liquidity efficiency, serving as a backstop for traders, and facilitating governance.
Token Burning and Minting MechanismThe platform has a token burning and minting mechanism that directly ties the value of GNS tokens to the trading outcomes. When a trader loses a trade and gets liquidated, the DAI vault retains the deposit, increasing the amount of DAI. Once the DAI amount surpasses a specific threshold, the excess DAI repurchases GNS tokens from the GNS/DAI pool, which are then burned, creating deflationary pressure on the token. Conversely, if a trader wins a trade, the profits are paid out from the DAI vault, which might involve minting new GNS tokens.
NFT Collection and UtilityGains Network also offers a collection of NFTs available on OpenSea. These NFTs provide tangible benefits to the platform's users, such as amplifying the yield of liquidity funds or reducing the trading spread. Each NFT is designed to offer a specific advantage, making them functional assets within the Gains Network ecosystem.
Protection Against Whale TradesTo maintain platform stability, Gains Network has implemented measures to restrict any single trade from absorbing more than 1% of the total amount of DAI in the vault. This ensures a balanced and stable trading environment for most users.
Decentralized Oracle Network (DON)Gains Network uses a custom-built Chainlink decentralized oracle network (DON) to provide real-time, aggregated prices for its leveraged trading products. This ensures accurate and reliable asset pricing.
Governance and Future PlansGains Network is working towards becoming a decentralized autonomous organization (DAO), where GNS token holders will make up the DAO and contribute to the administration of the platform by voting on improvement proposals. The long-term vision is to create a comprehensive DeFi ecosystem with various products and services, including a casino and its own Metaverse.
Availability and TradingGains Network (GNS) is listed on several exchanges, including MEXC Global and Binance, and can be traded in various pairs, such as GNS/USDT.
The token Gains Network (GNS) has several strengths that contribute to its value and utility within the Gains Network ecosystem:
Deflationary Nature: The GNS token has a deflationary mechanism, where excess DAI in the vault is used to repurchase and burn GNS tokens, reducing the supply and creating upward pressure on the token's value.
Liquidity Efficiency: GNS tokens support the liquidity efficiency of the DAI vault by incentivizing the GNS/DAI pool, which provides extra support for the DAI vault and the general liquidity of the gTrade platform.
Governance: GNS tokens will play a crucial role in the decentralized governance of the platform, allowing holders to participate in voting on improvement proposals and contributing to the administration of the platform.
Staking Rewards: GNS token holders can stake their tokens to receive rewards, which are distributed in real-time based on trading activity on the platform.
NFT Benefits: Holding Gains Network NFTs can amplify the yield of liquidity funds and reduce trading spreads, offering tangible benefits to users.
Decentralized Trading Platform: Gains Network operates on a decentralized leveraged trading platform, offering high leverage options and a synthetic asset system that ensures accurate and reliable asset pricing.
- Multi-Chain Approach: The platform operates on multiple chains, including Polygon and Arbitrum, making it a versatile choice for traders.
These strengths collectively contribute to the value and utility of the GNS token, making it an attractive investment opportunity for those interested in decentralized finance (DeFi) and leveraged trading platforms.
Gains Network (GNS) carries several financial risks that investors should be aware of. One significant risk is the potential for staking rewards to fluctuate based on changes in the platform's fee structure or trading volume. The current APY offered in the GNS staking pool may vary over time and is subject to market conditions, which could impact the returns on investment.
Another risk is tied to the governance structure of the platform. As GNS stakers gain decision-making power, they could potentially steer the platform away from broader goals or interests, creating an imbalance of power and jeopardizing long-term sustainability.
Additionally, the platform's token burning and minting mechanism, which is influenced by trading outcomes, can create deflationary pressure on the token if traders lose and get liquidated. Conversely, if traders win, new GNS tokens might be minted, affecting the token's value.
Furthermore, the "gDAI Vault" staking mechanism, which serves as the counterparty to all trades, carries risks related to the collateralization of the vault. If overall PnL is negative, the vault starts to create a buffer with those funds, which could impact stakers' returns.
Lastly, the platform's reliance on decentralized oracles and price feeds, such as Chainlink, can expose it to potential risks associated with the accuracy and reliability of these feeds.
These financial risks highlight the importance of careful consideration and thorough research before investing in Gains Network (GNS).
- Dev (Seb): The primary developer behind Gains Network, operating in Europe, who prefers to maintain his anonymity for security reasons. He is the sole developer and works directly with the community to address questions and concerns.
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