Gains Network to Participate in SmartCon in Hong Kong on October 30th

Gains Network will participate in the upcoming SmartCon event in Hong Kong, which will be held on October 30th. The event will present gTrade’s implementation of CCIP and potential future use cases.

Refer to the official tweet by GNS:

GNS Info

Gains Network is a multi-functional DeFi ecosystem that includes multiple products on Polygon and Arbitrum networks. A special feature of the ecosystem is gTrade — a decentralized platform for leveraged trading. By leveraging a uniquely designed synthetic architecture, gTrade aims to be more capital efficient than any existing platform and provides low trading fees along with a wide range of leverages and pairs, including up to 150x on cryptocurrencies and 1000x on forex.

The operation of the Gains Network protocol relies on its ERC-20 utility token, GNS, and ERC721 utility tokens or NFTs. These tokens are designed for active use within the platform and allow for protocol ownership through revenue capture and governance. Important features of the protocol include single-sided staking for GNS holders to receive platform fees, a deflationary mechanism where GNS is burned using platform revenue, and benefits for NFT holders such as reduced spread and increased rewards.

The GNS token, as the native token of Gains Network, has multiple use cases. GNS stakers can accrue platform fees, contributing to a form of passive income. Furthermore, a deflationary mechanism is in place, where GNS tokens are burned when the DAI Vault becomes over-collateralized, therefore controlling the supply of the token and potentially increasing its value.