Gains Network (GNS)

Trading Platform

Gains Network offers gTrade, a decentralized leveraged trading platform where users can trade cryptocurrencies, forex, stocks, indices, and commodities with leverage up to 1000x. It uses synthetic leverage, meaning users do not borrow funds but trade with capital efficiency. The platform provides real-time, accurate price data through a custom Chainlink decentralized oracle network, ensuring fair and manipulation-resistant trading.

Token Utility

The GNS token is the native utility token of Gains Network. It is used for staking, allowing holders to earn rewards from platform fees. GNS holders can participate in governance decisions, such as adding new trading pairs or adjusting platform fees. The token is also used to pay transaction fees on the platform and is involved in a buyback and burn mechanism that supports token value.

Liquidity and Rewards

Users can provide liquidity by staking stablecoins like DAI in the gDAI vault or by staking GNS tokens in liquidity pools. These actions earn rewards from trading and liquidation fees. The platform’s design includes mechanisms to maintain over-collateralization and manage risks, benefiting liquidity providers and traders alike.

NFTs and Additional Features

Gains Network integrates ERC721 utility tokens (NFTs) that offer benefits such as reduced trading spreads, enhanced rewards, and functionalities like executing limit orders and managing liquidations. The platform plans to expand its ecosystem with features like a casino and a metaverse in the future.

Accessibility and User Experience

Gains Network allows users to trade without complicated KYC processes by connecting existing crypto wallets. It supports multiple blockchain networks like Polygon and Arbitrum, providing lower fees and faster transactions. The platform aims to be user-friendly and accessible to both new and experienced traders.

Advantages

• Gains Network offers a decentralized leveraged trading platform called gTrade, allowing users to trade crypto, forex, stocks, indices, and commodities with leverage up to 150x on crypto and up to 1000x on forex.
• The platform operates fully on-chain, ensuring transparency and decentralization.
• It uses a custom-built Chainlink decentralized oracle network to provide real-time, aggregated, and accurate asset prices, reducing market manipulation.
• Gains Network has a deflationary token model where trades buy and burn GNS tokens, potentially increasing token value as trading volume grows.
• Users can earn rewards by staking in pools like the DAI Vault and GNS/DAI Pool, with additional boosts available through NFTs.
• The platform supports a wide range of tradable assets, including popular cryptocurrencies and high-demand US stocks.
• Gains Network aims to transition into a DAO, promoting community governance and innovation in DeFi products.

Disadvantages

• There is a maximum limit on open interest for each trading pair, which may limit profitability.
• The token is listed on a limited number of exchanges, making it harder to buy or sell compared to more widely available cryptocurrencies.
• The market capitalization and price can be volatile and influenced by large holders ("whales").
• The platform is relatively new and operates in a competitive DeFi leveraged trading space.
• Some features, like staking rewards boosts via NFTs, may require additional understanding or investment.

Overall, Gains Network combines innovative decentralized leveraged trading with community-driven tokenomics, but it has some limitations in market access and trading limits.

Founders of Gains Network

• The key founders associated with Gains Network are Dave Anderson and Steve Gera.
• Dave Anderson is a former NFL wide receiver, data scientist, and Chief Digital Officer at Gains Group.
• Steve Gera is the Chief Executive at Gains and leads innovation, working with major sports and entertainment partners.

Related Founders in GAINS Associates (Different Entity)

• Alexandre Raffin is the Founder and CEO of GAINS Associates, a decentralized venture capital firm.
• Reda Sabir is a Co-Founder of GAINS Associates.

Other Individuals Named Gains or GAINS (Not Related to Gains Network Crypto)

• Bill Benton is a co-founder of GAINSystems, a supply chain planning company, not related to Gains Network crypto.
• Other names like Albizu Garcia and Rafael Torres are founders of Gain (a different company), not Gains Network.

In summary, the founders of Gains Network are primarily Dave Anderson and Steve Gera.

Investors

Gains Network has 1 known investor who contributed $250,000 in a grant round on January 5, 2022.

Funding

The project raised $250K in one funding round, specifically a grant.

Grants and Partnerships

Gains Network applied for $750,000 in financing from Polygon DeFi to support its roadmap milestones, showing collaboration with Polygon.

No other specific investor names or venture capital firms are publicly listed.

Halal Status of Gains Network

No. Gains Network involves leveraged trading and synthetic assets, which often include elements of speculation (maysir) and uncertainty (gharar), making it generally not considered halal under Islamic finance principles.