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What is Gains Network (GNS)?
Gains Network basic info
What Is Gains Network (GNS)?
The Gains Network provides a decentralized trading platform that enables users to trade cryptocurrencies and forex with leverage. Leverage involves using borrowed funds to trade financial assets. According to its whitepaper, the platform aspires to create a decentralized finance ecosystem for the future. The Gains Network launched its first decentralized leverage trading platform, gTrade, on the Polygon (Matic) blockchain. The network asserts that gTrade's unique architecture makes it more capital efficient than other platforms.
What Makes Gains Network (GNS) Unique?
The Gains Network is introducing reward pools for its users, which are designed to enhance the trading experience, increase the system's resilience, and improve capital efficiency. There are two reward pools available on the platform:
The DAI Vault allows anyone to stake DAI and earn DAI rewards based on trading volume.
The GNS/DAI Pool is accessible exclusively on the Polygon (Matic) mainnet. Users can stake their LPs to earn GNS and dQUICK rewards. Depositing Quick tokens into the staking contract generates dQUICK, also known as "Dragon's Quick."
What Is the Gains Network token?
The Gains Network has its own utility token, GNS, which follows the ERC20 standard. The total supply of GNS tokens is 38,500,000, and its maximum supply is set at 100,000,000. Additionally, the platform offers five types of NFTs that are considered the master keys of the ecosystem. There are 1500 NFTs in total, with each of the five categories having a specific number of keys: 500 Bronze Keys, 400 Silver Keys, 300 Golden Keys, 200 Platinum Keys, and 100 Diamond Keys.
Gains Network (GNS) Price Prediction
Based on the latest predictions, Gains Network is expected to experience a substantial growth of 226.95%, reaching $10.55 by the end of 2025. However, it's worth noting that the current market sentiment is bearish and the Fear Greed Index is currently at 11.98, indicating extreme fear. It's important to proceed with caution and closely monitor market trends and indicators.
GNS supply and tokenomics
Uniqueness
As a decentralized leverage trading platform, Gains Network allows users to predict if the price of an asset will rise or fall, correct predictions leading to profits. These profits are further accelerated as Gains Network offers high leverage without funding fees – as leverage isn’t directly borrowed, traders’ profits are their own. However, as with any leveraged trading, losses are also amplified.
Gains Network provides a more comprehensive experience when compared with similar businesses. On top of this, Gains Network offers 47 pairs, all of which share the same liquidity in GNS/DAI. As the platform uses Chainlink price feeds, live prices are always used, ensuring that users always keep custody of their funds.
Additionally, instead of trading with perpetuals, gTrade instead takes the medium value from different exchanges, providing a more accurate spot price of the asset. This additional accuracy liberates users from a constrained, brokered trading experience.
Token utility
The GNS token has developed over its lifetime iteratively in ways which help the growth and efficiency of the protocol. Initially it was exclusively minted and burned to back trading - however it was recognised that during extreme market conditions this could result in unnecessary volatility. In its present iteration:
- It supports the liquidity efficiency of the DAI vault by minting rewards for GNS/DAI LP providers, NFT bots, and affiliates, allowing the DAI to remain within the vault. This adds stability by reducing vault drawdowns and supporting its over-collateralization.
- It is burned when the DAI vault becomes sufficiently overcollateralized to offer a suitable buffer for DAI vault stakers - currently this is 130%. This is done to counter the inflation from GNS/DAI LP rewards and NFT bot rewards.
- It ensures that people supporting the community early on will not have the percentage of their platform interest diluted by a large whale in future - it gives an equal playing field to community support.
- It is the ultimate backstop to traders winning on gTrade (not through minting any more, but through potential OTC sales of the protocol wallets reserves if the situation requires it).
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What is the development prospect and future value of GNS?
The market value of GNS currently stands at $55.42M, and its market ranking is #510. The value of GNS is not widely recognized by the market. When the bull market comes, the market value of GNS may have great growth potential.
As a new type of currency with innovative technology and unique use cases, GNS has broad market potential and significant room for development. The distinctiveness and appeal of GNS may attract the interest of specific groups, thereby driving up its market value.