Fast-growing gTrade Platform Gets $250K Grant As It Closes In On First Major Milestones

Name	Symbol	Market	Market Cap ($)	Algorithm
Polygon	MATICUSD	Crypto	6,570,467,456	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Polygon

MATICUSD

Crypto

6,570,467,456

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0041	-0.58%	0.7058	0.7059	0.7061

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.0041

-0.58%

0.7058

0.7059

0.7061

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.7188	0.6965	0.7103	0.7099	0.492200 - 1.29

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.7188

0.6965

0.7103

0.7099

0.492200 - 1.29

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	18:08:54	3,204.00	0.70621	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

18:08:54

3,204.00

0.70621

USD

Price x Volume	Volume	Base Symbol	Related Pairs
3,782,167.96	5,334,906.38	MATIC	MATICEUR	MATICGBP	MATICBTC

Price x Volume

Volume

Base Symbol

Related Pairs

3,782,167.96

5,334,906.38

Fast-growing gTrade Platform Gets $250K Grant As It Closes In On First Major Milestones

05/01/2022 5:39pm

NEWSBTC

Rapid organic growth has put Gains Network’s decentralized gTrade platform well on the way towards achieving the first major milestones on its roadmap. Now, armed with $250,000 in funding from the Polygon DeFi, its founders are confident it will soon hit its second set of milestones. Gains Network is intending to build a blazing-fast and liquidity-efficient leveraged trading platform with a decentralized architecture on the Polygon blockchain, giving investors the benefit of lower fees and faster trades. gTrade currently offers 43 cryptocurrencies and 10 major Forex pairs. Its asset-agnostic synthetic trading architecture, which is powered by the minting and burning of its native GNS token, ensures investors benefit from median spot price leverage, no fees and zero price impact. The exchange also claims to offer the fairest prices, with each asset trade executed at the median spot price across multiple exchanges. gTrade also has the huge advantage of not needing liquidity for each trading pair, with 100 percent liquidity settlements on all pairs backed by the GNS/DAI pool and the DAI vault. Those benefits are clearly not lost on crypto investors, who have been flocking to gTrade in their droves. As a result, Gains Network said it is already close to hitting its primary goal of sustaining $30 million in daily trading volume for 10 days, with a current average of $20 million traded through its platform each day. It’s also on the verge of hitting its target of a maximum $20,000 per-trade collateral enabled by its DAI Vault, with its current max sitting at $18,000 per-trade collateral. Other targets on gTrade’s roadmap include reaching $4 million in GNS/DAI liquidity and $2 million total value locked in the DAI Vault. The first of those objectives has already been reached, with gTrade boasting $7 million in GNS/DAI liquidity, while the DAI Vault is getting close with $1.8 million in total value locked. Gains Network has now unlocked $250,000 worth of MATIC tokens with its first Polygon grant, and once its initial goals have been reached it will receive a second, $500,000 grant to help it hit its next set of milestones. Those call for $100 million in daily trading volume, $50,000 maximum per trade collateral, $10 million in GNS/DAI liquidity and $5 million staked in the DAI vault. “It is a great pleasure for us to work with Polygon for this trading incentives program,” said Gains Network founder Sébastien. “Gains Network’s mission with gTrade has always been to provide an innovative, decentralized, and fair solution for leveraged trading.”

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