Key takeaways
- Now it’s possible to leverage trade stock on-chain
- You can trade the best tech stocks, namely Apple stock ($AAPL); Google stock ($GOOGL), and Meta/Facebook stock ($FB)
- Gains Network aims to bring liquidity-efficient decentralized leveraged trading to all DeFi users
Decentralized Finance (DeFi) is evolving at an incredible pace. Multiple projects are being launched at all times, and Gains is one of the exciting new ones.
Gains Network allows users to trade the price of stocks on-chain with leverage. This marks a critical milestone for decentralized finance. It also makes the DeFi ecosystem a lot more appealing.
gTrade — the very first crypto derivatives platform to offer leveraged trading on the price of stocks
gTrade is the first of its kind – the very first crypto derivatives platform to offer leveraged trading on the price of stocks. The platform started with three of the best tech stocks, namely Apple stock ($AAPL); Google stock ($GOOGL); and Meta/Facebook stock ($FB). It is expected that more stocks will be added in the coming weeks/months.
Gains Network has a strong reputation for providing superior user experience. Providing leveraged on-chain stock price trading is definitely the right move, and we know the network must have prepared well for it. The timing is just right, and traders should look forward to the same superior experience on the platform.
The new trading feature on gTrade has been tested to make sure everything works as intended. The platform will charge zero funding and borrowing fees. Users can expect accurate stock spot prices, as it is powered by a front-line Chainlink decentralized oracle network. Users will also enjoy high leverage. What’s more? The network is free of scam wicks; there will be no price impact on trades; there’ll be reduced liquidity risk.
One of the major reasons Gains Network offers a top-notch user experience is the underlying architecture. It makes use of an innovative synthetic leveraged trading architecture that is powered by the $GNS utility token.
There are two distinct liquidity pools within the Gains ecosystem, and they both execute trades for all pairs listed on gTrade. This approach is immensely beneficial because the protocol doesn’t have to build liquidity for every pair.
Another important thing about Gains Network’s new feature is that leverage is never borrowed. Rather, it is synthetic in nature. This enables it to unlock a higher degree of liquidity efficiency than any competition, be it centralized or decentralized.
Speaking about the new project, Gains Network Founder, Sebastien said:
“We are delighted and honored 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. 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.”
On-chain stock price trading starts on May 2
On-Chain stock price trading on Gains Network will commence on May 2, 2022. The market will open with the price of the aforementioned US stocks at 9:30 AM EST. The team also plans to list the second batch of 20 big US stocks a week later, on May 9, 2022. We are yet to know the stocks that will feature in the second batch.
The gTrade team can never run out of options when it comes to listing. This is because the gTrade APIs support virtually all US-listed stocks. It has also been revealed that the team’s long-term plan is to list all significant US stocks and make them available for leveraged trading on the Gains ecosystem.
Truly, the gTrade platform has just taken DeFi to a whole new level on Polygon and beyond. On-chain stock price trading will create exciting opportunities for many who are thrilled by the fact that decentralized finance is making waves. Currently, gTrade’s all-time volume is over $11 billion. Of course, this figure is bound to increase significantly once many of the popular US stocks become available.
About Gains Network
Gains Network is building what it calls an “Innovative DeFi ecosystem of products” on Polygon. The expanding ecosystem is home to GNS utility tokens, some deeply integrated NFTs, staking pools, and a host of cutting-edge products, including gTrade. With its gTrade platform, Gains Network aims to bring liquidity-efficient decentralized leveraged trading to all DeFi users and enthusiasts.
