Gains Network Review (gTrade)
Here's the highlights from our Gains Network review:
- gTrade is revolutionizing decentralized leveraged trading with access to fast, secure, permissionless trades on the Polygon Network. Trades are settled fast and cheap
- You don't have to pay deposit or withdrawal fees and retain custody over your assets (your wallet, your keys, your cryptos)
- There are tons of pairs available to trade and the ability to trade stocks, ETFs, forex, commodities and other TradFi assets is a huge differentiator from other decentralized exchanges
Pros & Cons Of Gains Network
Pros
Cons
What Is The Gains Network?
The Gains Network is a decentralized cryptocurrency trading platform (DEX) that allows users to trade a variety of digital assets as well as some large cap stocks and currencies. Gains Network (the company behind gTrade, their leveraged trading platform), claims to be able to serve their users 100-1000x more efficiently than other exchanges.
Built on the Layer 2 architecture of the Polygon Network, gTrade offers cheap, fast trading with low gas fees. The platform aims to offer a secure, fast, and user-friendly trading experience for both experienced traders and new users. The Gains Network also claims to have a strong focus on community engagement, with features such as a rewards program and a social media platform for users to connect and share information.
Screenshot of the Gains Network website, gains.trade (gTrade)
GNS Token
The GNS token (Ticker: $GNS) is the native utility cryptocurrency of the Gains Network platform. According to the information available on their website, the GNS token is used as the primary currency on the platform and can be used for a variety of purposes, such as paying trading fees, participating in the rewards program, and accessing premium features.
Gains Network Trading Fees
While there are no deposit or withdrawal fees that we are aware of with Gains Network, gTrade charges a variety of fees for different types of trades, some include:
- They currently charge 0.08% of leveraged value on opening and closing for cryptocurrency trades
- For forex trades, they charge 0.008% of the leveraged value of the trade for opening and closing the trade
- For stock market trades, they charge fees based on Tiers (Tier 1 - 3), with opening and closing trades starting at 0.12% - 0.32% (depending on the tier)
- ETF fees are charged at 0.05% for opening and closing positions
- Commodiy fees (also a tier system), start at 0.05% - 0.08% depending on which tier you're on
- They charge funding fees on the position size, and rollover fees on the collateral, however it's not clear from reading their documentation what exactly those are
More details can be found here.
Here's an example of how fees work on the Gains Network
Gains Network Products
- Decentralized crypto, forex, stocks, ETF trading: gains.trade
- Leveraged decentralized trading up to 1000X: gains.trade/trading
- DeFi and staking: gains.trade/vault
- OTC trades: gains.trade/otc
- Referral rewards: gains.trade/referrals
- DeFi bridge: gains.trade/bridge
- Gains Network (parent company): gainsnetwork.io
- $GNS staking: gainsnetwork.io/pools
- GFARM2 bridge and migration: gainsnetwork.io/bridge
Verdict - Should You Trade on gTrade?
If you're looking for a wide range of DeFi and trading products and tons of trading pairs on a decentralized exchange, then gTrade might be right for you.
With stocks, forex, ETFs, cryptos, commodities, staking, and more, gTrade has something for everyone and is an innovative newcomer to the DEX space.
On the other hand, if you're worried about interacting with anonymous teams and untested DeFi protocols, you might want to try a proven centralized exchange like KuCoin, ByBit, Binance, or Gate.io.
