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Gains Network’s gTrade Platform Secures $250K Grant From Polygon DeFi

Gains Network’s gTrade Platform Secures $250K Grant From Polygon DeFi

gTrade platform creator Gains Network has been awarded the first of two grants from the Polygon DeFi, receiving $250,000 in MATIC tokens to help it achieve the first major milestones on its ambitious roadmap. 

The gTrade platform is a decentralized, super-fast and liquidity-efficient leveraged trading architecture that runs on the Polygon blockchain, which is a framework for building and connecting Ethereum-compatible networks and an ecosystem of DeFi apps with faster speeds and lower fees. 

The advantages for traders on gTrade include leverage in terms of median spot prices, zero percent funding fees and zero percent price impact. Those capabilities are enabled by gTrade’s asset-agnostic synthetic trading architecture and powered by its native GNS token. Traders also benefit from the fairest possible prices, with trades executed at the median spot price from multiple exchanges. 

Gains Network says it’s already well on the way to achieving the first goals on its roadmap, which call for it to sustain $30 million in daily trading volume for a minimum of 10 days with $20,000 max. per-trade collateral enabled by its DAI vault. It’s also aiming to achieve $4 million in GNS/DAI liquidity and hit $2 million total value locked in its DAI vault. 

The latter goals have already been achieved purely through organic growth, Gains Network said, while it has come close to the former targets with a current $20 million average daily trading volume and $18,000 max per-trade collateral. 

Once those goals have been achieved, Gains Network will unlock a second grant of $500,000 from Polygon DeFi as it bids to achieve $100 million in daily trading volume, $50k max per trade collateral, $10 million in GNS/DAI liquidity providers and $5 million staked in the DAI vault. 

Gains Network founder Sébastien said it has been a great pleasure to work with Polygon as it bids to create an innovative, decentralized and fair trading solution. “It is now time for the world to realize that Polygon is THE blockchain to trade with leverage,” he added. 

gTrade’s organic growth is no surprise as it already offers numerous capabilities for traders with 43 crypto tokens on its platform and five to 150-times leverage. It also boasts 10 major Forex pairs with up to 1,000-times leverage. One of the big advantages of gTrade is it doesn’t require liquidity for each trading pair as these are 100% backed by the GNS/DAI pool and DAI vault. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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