gTrade; trade crypto and currency on the blockchain

by Arthur · April 21, 2023

gTrade is a blockchain-based trading platform where traders can access liquidity, stake and trade hundreds of cryptocurrencies. In addition to crypto trading, users can also trade forex at low cost and on-chain. Users can access more than 45 different cryptocurrencies.

gTrade is a product of Gains Network, an innovative DeFi ecosystem developed at Polygon and Arbitrum. Through the Gains Network ecosystem, gTrade users gain access to liquidity, betting services and a user-friendly secured infrastructure for their transactions.

Table of Contents

Features of Gains Ecosystem

Practice mode: gTrade has one Practice mode which can be used to test gTrade on a live trading scene, but without using real tokens. It is done on Polygon Mumbai Testnet. Users need to have a web3 wallet like Metamask connected to Mumbai Testnet, Testnet MATIC to pay for transactions and Testnet DAI to use as collateral.
Trading pairs: gTrade has over 100 trading pairs which is a combination of forex and crypto. Trading pairs refer to the two different cryptocurrencies that are traded against each other on an exchange – crypto or forex. Examples include EUR/USD and BTC/USD.
Transfer Fee: This allows traders to use lower leverage while allowing adequate risk management for the protocol. Without this, the entire maximum open interest possible for a pair can be taken up for a long time (years even on a low-leverage stock pair for example) – completely stopping other traders from having the opportunity to trade it!
Leverage trading: Leverage trading, also known as margin trading, is a trading strategy that allows traders to increase their market exposure by borrowing funds from a broker or exchange. The biggest advantage of trading with leverage is the potential for higher profits, but it also comes with increased risk, as losses are magnified in the same way as profits. Traders must also be aware of margin calls, which occur when the value of their account falls below a certain level.
gDAI staking: Users on gTrade can too deposit DAI in exchange for gDAI, an ERC-20 that represents their ownership in the vault. Stakers are rewarded for depositing DAI. Although users have to follow an epoch system designed in the platform when they want to withdraw their deposit.
gTrade referral: gTrade referral The system gives users another opportunity to earn rewards depending on the number of people they refer in gTrade and the value of trades they make.
gTrade Bridge: gTrade has a Polygon/Arbitrum bridge. Users can use the bridge to transfer their tokens between the different blockchains in the gTrade platform.

gTrade also offers an OTC (Over The Counter) service where users can buy and sell cryptocurrencies without the need for a traditional exchange.

The team behind Gains Trade

Some of team members behind gTrade includes Seb, the founder, who is also a full-stack developer and responsible for strategy; Nathan, the project manager and also a full stack developer; Lunaman, another project manager and business developer.

Others are Crumb, a full-stack developer; Dreamersnat, a front-end developer; Konrad, a front-end developer; Drew, a backend developer; Uri, a full-stack developer and researcher; Sam, a business developer responsible for partnerships and connections; Ross & Kenji as Social Media Coordinators; Jim, designer; Alex, researcher; and Vesnushki, community moderator.

Roadmap for profit trading

In Q2 2022, gTrade was integrated with Polygon and Chainlink, $GNS stakes for $DAI rewards were initiated, and the referral system was launched. In Q3, some of the highlights were Custom Chainlink oracle price lookback for guaranteed and accurate execution of all limit orders, NFT bot incentive optimizations and chain tracking of fees generated (for statistics dashboards).

Between October and December 2022, gTrade updated its vault, allowing staking, trading and receiving rewards from other securities in the vault. Other steps taken included major refactor & optimization of the contracts, full documentation of the code, upgrade of the website, complete refactoring/cleaning of the code, full UI and UX implementation and refinement, influencer marketing.

In Q1, 2023, trading volume increased from $3.42B to $4.03B, profit distribution rose to $3.34M from $2.3M while management fund income moved from $439,016 to $485,684. Significant partnerships were made with Fluidity Money, QiDAO, Silo Finance, Pendle Finance, Perpy Finance and Ramses.

Tokenomics by GTrade

The $GNS token is the original crypto of the Gains ecosystem that was distributed to early adopters via liquidity farming. It was first known as the $GFARM2 token on Ethereum, which was split into an ETH pool and a GFARM2/ETH LP pool. It has a maximum supply of 100,000,000 GNS.

This token also serves as the governance and utility token in the Gains Network. It will be crucial for proposals created for the future of the Gains ecosystem.

With a total of more than 13,000 traders, gTrade has made $26,456,701 in trading fees, and a trading volume of $36,135,332,853 from 21 April 2023.