On June 6, 2024, at precisely 13:43 UTC, Gains Network (GNS) experienced a significant breakout, surging by 10.81% to reach a new price of $3.77. This remarkable movement in the market was not just a fluke but the result of several strategic and technological advancements that have positioned Gains Network as a formidable player in the decentralized finance (DeFi) space. Gains Network, known for its innovative leveraged trading platform, gTrade, has been making waves with its unique approach to synthetic asset trading. Let's delve into the factors that contributed to this impressive breakout. On June 6, 2024, Gains Network (GNS) experienced a significant breakout, with its price surging by 10.81% to reach $3.768. This breakout was driven by several key factors, each contributing to the heightened market interest and subsequent price increase. Let's delve into these reasons and their implications for the Gains Network ecosystem, supported by visual evidence for a comprehensive understanding.
New v8 upgrade opens direct smart contract interactions: The release of the v8 upgrade marked a pivotal moment for Gains Network. This upgrade allowed smart contracts to interact directly with trading contracts, paving the way for new use cases and integrations. The refactor of protocol contracts also ensured nearly endless scalability, facilitating faster feature releases and improved user experience.
Gains Community Grants Program (GCGPBridge) announcement: The announcement of the Gains Community Grants Program (GCGPBridge) with 112,500 $ARB from the Arbitrum STIPBridge program significantly boosted the ecosystem's growth prospects. This initiative aims to support innovative projects on the gTrade platform, encouraging trading innovation and increasing composability and capital efficiency in the DeFi ecosystem.
Recent listing on Bitvavo: The recent listing of gTrade on Bitvavo, a prominent exchange, further amplified its visibility and trading volume. This new exchange listing made it easier for a broader audience to access and trade GNS, contributing to the surge in its price.
The combination of these factors has positioned Gains Network as a formidable player in the decentralized finance (DeFi) space. The v8 upgrade not only enhanced the platform's technical capabilities but also improved user experience, making it more attractive to traders. The GCGPBridge initiative is set to foster innovation and integration, driving ecosystem growth and increasing the utility of GNS. Additionally, the Bitvavo listing has expanded market reach, bringing in new users and increasing trading activity. These developments collectively contributed to the breakout, reflecting the market's positive response to Gains Network's strategic advancements. In summary, Gains Network's recent 10.81% price breakout is a result of strategic technological upgrades, communitydriven initiatives, and increased market visibility. The v8 upgrade, the Gains Community Grants Program, and the recent Bitvavo listing have collectively contributed to this surge. As Gains Network continues to innovate and expand, it is crucial for investors to conduct thorough research (DYOR) to navigate the complexities of the cryptocurrency market effectively. The future looks promising for Gains Network as it aims to revolutionize decentralized leveraged trading and become a leader in the DeFi space.
We have asked 42 Experty community members questions related to "News of Gains Network (GNS) - June 2024 Price Update - 10.81% Breakout Crypto News and Analysis". We have received many valuable replies, the best ones (based on Experty community feedback) you can read below.
Interested in a specific topic?
Pick one keyword and dive into this theme
- platform
- trading
- gain
- project
- network
- gains community grants program
- gcgp-bridge
- liquidity
- stip-bridge
- ecosystem
- fee
- protocol
- token
- upgrade
Donmello
Explore the Core.
Gains Network is a decentralized platform that revolutionizes the way trading, borrowing, and lending of synthetic representations of real-world assets are conducted. At its core, it utilizes the Gains Network Protocol, which is an open-source framework allowing for the deployment on various blockchain networks. This flexibility ensures that a wide range of users can access its services through different third-party wallet applications or network node clients.
Spot the Main Event:
gTrade is excited to announce the Gains Community Grants Program (GCGP-Bridge) with 112,500 $ARB from the @Arbitrum STIP-Bridge program, which gTrade is honored to be a part of, ready to support innovative projects to build on the gTrade platform! With gTrade’s new v8 upgrade, the possibilities are endless…
📸 Show Us What You Found:
shuaibu abubakarA dedicated learner!
Explore the Core.
Decentralized derivatives trading can be challenging due to a lack of liquidity, leading to high slippage and price discrepancies. Gains Network uses its RNM algorithm to provide higher liquidity and more accurate pricing for derivatives trading.
Spot the Main Event:
Exciting announcement! Team announcing their gains community giants Program. Here by bringing more builders and developers to the ecosystem.
📸 Show Us What You Found:
OLUWATOSIN GARUBAExplore the Core.
The protocol revolves around the ecosystem's ERC20 utility token (GNS) and ERC721 utility token (NFTs). GNS and the NFTs are designed to be actively used within the platform (utility) and to allow ownership of the protocol through revenue capture & governance (soon). It includes GNS holders receiving platform fees through Single Sided Staking, burning of GNS using platform revenue, NFT holders getting reduced spread and boosted rewards, as well as NFT bots executing limit orders and liquidations.
Spot the Main Event:
gTrade is excited to announce the Gains Community Grants Program (GCGP-Bridge) with 💰 112,500 $ARB from the @Arbitrum STIP-Bridge program, which gTrade is honored to be a part of, ready to support innovative projects to build on the gTrade platform! With gTrade’s new v8 upgrade, the possibilities are endless. Join in pushing the boundaries of decentralized trading.
📸 Show Us What You Found:
Ola VictoriaExplore the Core.
Gains Network is developing gTrade, a liquidity-efficient, powerful, and user-friendly decentralized leveraged trading platform. Their uniquely designed synthetic architecture makes gTrade more capital efficient than any existing platform, allows for low trading fees, and a wide range of leverages and pairs: up to 150x on cryptos, 1000x on forex, 100x on stocks, and 35x on indices.
Spot the Main Event:
gTrade is excited to announce the Gains Community Grants Program (GCGP-Bridge) with 112,500 $ARB from the Arbitrum STIP-Bridge program, which gTrade is honored to be a part of, ready to support innovative projects to build on the gTrade platform. Also they were recently listed on bitvavo
📸 Show Us What You Found:
Abifarin TemitayoExplore the Core.
Gains Network is developing Trade, a liquidity-efficient, powerful, and user-friendly decentralized leveraged trading platform. Their uniquely designed synthetic architecture makes Trade more capital efficient than any existing platform, allows for low trading fees, and a wide range of leverages and pairs: up to 150x on cryptos, 1000x on forex, 100x on stocks, and 35x on indices.
Spot the Main Event:
gTrade is excited to announce the Gains Community Grants Program (GCGP-Bridge) with $ 112,500 $ARB from the @Arbitrum STIP-Bridge program, which Trade is honored to be a part of, ready to support innovative projects to build on the gTrade.
📸 Show Us What You Found:
Jeremiah DavidFull stack developer and a block chain specialist.
Explore the Core.
Gains Network is developing gTrade, a liquidity-efficient, powerful, and user-friendly decentralized leveraged trading platform. Our uniquely designed synthetic architecture makes gTrade more capital efficient than any existing platform, allows for low trading fees, and a wide range of leverages and pairs: up to 150x on cryptos, 1000x on forex, 100x on stocks, and 35x on indices. The protocol revolves around the ecosystem's ERC20 utility token (GNS) and ERC721 utility token (NFTs). GNS and the NFTs are designed to be actively used within the platform (utility) and to allow ownership of the protocol through revenue capture & governance (soon). It includes GNS holders receiving platform fees through Single Sided Staking, burning of GNS using platform revenue, NFT holders getting reduced spread and boosted rewards, as well as NFT bots executing limit orders and liquidations. Long-term vision gTrade becomes the most adopted decentralized leveraged trading platform. Gains Network becomes a DAO governed by the $GNS token (or a derivative like $veGNS). Its only goal is to create great DeFi products that bring revenue that can be distributed in a $GNS staking pool. Development scales horizontally, any team can create governance proposals to receive funding from the governance and create cutting-edge products that bring revenue to $GNS holders.
Spot the Main Event:
This news is the cause of the price change gTrade is excited to announce the Gains Community Grants Program (GCGP-Bridge) with 💰 112,500 $ARB from the @Arbitrum STIP-Bridge program, which gTrade is honored to be a part of, ready to support innovative projects to build on the gTrade platform! With gTrade’s new v8 upgrade, the possibilities are endless. Join in pushing the boundaries of decentralized trading
📸 Show Us What You Found:
Esther WonderOwojori
Explore the Core.
The project Gains Network is developing gTrade, a liquidity-efficient, powerful, and user-friendly decentralized leveraged trading platform. Our uniquely designed synthetic architecture makes gTrade more capital efficient than any existing platform, allows for low trading fees, and a wide range of leverages and pairs: up to 150x on cryptos, 1000x on forex, 100x on stocks, and 35x on indices. The protocol revolves around the ecosystem's ERC20 utility token (GNS) and ERC721 utility token (NFTs). GNS and the NFTs are designed to be actively used within the platform (utility) and to allow ownership of the protocol through revenue capture & governance (soon). It includes GNS holders receiving platform fees through Single Sided Staking, burning of GNS using platform revenue, NFT holders getting reduced spread and boosted rewards, as well as NFT bots executing limit orders and liquidations. Long-term vision gTrade becomes the most adopted decentralized leveraged trading platform. Gains Network becomes a DAO governed by the $GNS token (or a derivative like $veGNS). Its only goal is to create great DeFi products that bring revenue that can be distributed in a $GNS staking pool. Development scales horizontally, any team can create governance proposals to receive funding from the governance and create cutting-edge products that bring revenue to $GNS holders.
Spot the Main Event:
The project is pumping due to the recent news that they posted gTrade is excited to announce the Gains Community Grants Program (GCGP-Bridge) with 💰 112,500 $ARB from the @Arbitrum STIP-Bridge program, which gTrade is honored to be a part of, ready to support innovative projects to build on the gTrade platform! With gTrade’s new v8 upgrade, the possibilities are endless. Join in pushing the boundaries of decentralized trading
📸 Show Us What You Found:
Abdullahi Saleh SaiduCute, funny and a little bit crazy!!!
Spot the Main Event:
Building the Future of Gains Network: Announcing the Gains Community Grants Program. gTrade is excited to announce the Gains Community Grants Program (GCGP-Bridge) with 112,500 $ARB from the Arbitrum STIP-Bridge program, which gTrade is honored to be a part of, ready to support innovative projects to build on the gTrade platform. The Gains Community Grants Program (GCGP) is gTrade’s initiative designed to foster innovation and integration with gTrade by providing financial support to projects that build upon or integrate with the platform. The Arbitrum Bridge STIP grants will kick off this initiative. The GCGP-Bridge grant program aims to: * Encourage trading innovation by financially supporting third-party protocols to build on gTrade. * Increase composability and capital efficiency in the DeFi ecosystem by encouraging yield farming and money market integration with gTrade’s liquidity vaults. * Bring new, interesting use cases to the Arbitrum and Gains Network ecosystems. The GCGP-Bridge grant program comes at a perfect time as gTrade has just released its groundbreaking v8 update. This important technical milestone allows smart contracts to directly interact with trading contracts, enabling new use cases and integrations. Prior to v8, developers have been limited when it comes to integrating with the trading contracts, meaning that transactions had to directly call gTrade functions. It is now possible for other functions to include gTrade contracts within their call stack. Equally important, the v8 update also introduces a complete refactor of the codebase, including Natspec documentation and other developer-dedicated resources. The refactor’s inherent separation of concerns makes it easier for developers to navigate and understand the protocol’s structure.
📸 Show Us What You Found:
Explore the Core.
Gains Network is a decentralized platform that revolutionizes the way trading, borrowing, and lending of synthetic representations of real-world assets are conducted. At its core, it utilizes the Gains Network Protocol, which is an open-source framework allowing for the deployment on various blockchain networks. This flexibility ensures that a wide range of users can access its services through different third-party wallet applications or network node clients. The platform's standout feature is gTrade, a decentralized leveraged trading platform that is both liquidity-efficient and user-friendly. gTrade supports trading across multiple asset classes, including cryptocurrencies, stocks, forex, indices, and commodities, with leverage options that are unprecedented in the decentralized finance (DeFi) space. Traders can engage in leveraged trading with ratios as high as 150x for cryptocurrencies, 1000x for forex, 100x for stocks, and 35x for indices. This wide range of leverage options is made possible through an oracle-based perpetual futures exchange mechanism. Gains Network is also distinguished by its use of two types of utility tokens: ERC20 and ERC721. These tokens play a crucial role in the ecosystem, serving multiple functions such as paying for platform fees, participating in governance, and capturing revenue. The ERC20 utility token, in particular, is integral for staking, where holders can receive platform fees, and for the burning mechanism that uses platform revenue. Meanwhile, the ERC721 utility tokens, or NFTs, offer holders benefits like reduced spreads and enhanced rewards. These NFTs also enable functionalities such as executing limit orders and managing liquidations
Oluwatosin BamideleTrade hard. Joy is coming
Explore the Core.
Gains Network is developing gTrade, a liquidity-efficient, powerful, and user-friendly decentralized leveraged trading platform.
Spot the Main Event:
They shared the exciting release of v8 — a major milestone in the growth & development of the gTrade protocol! With v8, smart contracts are now able to interact directly with trading contracts, opening the door to a new set of use cases where other protocols integrate trading. Equally as important, protocol contracts were refactored for nearly endless scalability. This will allow for faster feature releases going forward. And don’t worry, trader UX was of course also improved!
📸 Show Us What You Found:
Ajayi OlusholaExplore the Core.
GNS is the utility token of the Gains Network. It is an ERC20 standard token
Spot the Main Event:
gTrade announce the Gains Community Grants Program (GCGP-Bridge) with 112,500 $ARB from the Arbitrum STIP-Bridge program, which gTrade is honored to be a part of, ready to support innovative projects to build on the gTrade platform _ gTrade’s new v8 upgrade, the possibilities are endless
📸 Show Us What You Found:
Adekanmi OwojoriFreelancer , Copy Writer and Crypto lover
Spot the Main Event:
This news is the cause of the price pump gTrade is excited to announce the Gains Community Grants Program (GCGP-Bridge) with 💰 112,500 $ARB from the @Arbitrum STIP-Bridge program, which gTrade is honored to be a part of, ready to support innovative projects to build on the gTrade platform! With gTrade’s new v8 upgrade, the possibilities are endless. Join in pushing the boundaries of decentralized trading
📸 Show Us What You Found:
Explore the Core.
Gains Network is developing gTrade, a liquidity-efficient, powerful, and user-friendly decentralized leveraged trading platform. Our uniquely designed synthetic architecture makes gTrade more capital efficient than any existing platform, allows for low trading fees, and a wide range of leverages and pairs: up to 150x on cryptos, 1000x on forex, 100x on stocks, and 35x on indices. The protocol revolves around the ecosystem's ERC20 utility token (GNS) and ERC721 utility token (NFTs). GNS and the NFTs are designed to be actively used within the platform (utility) and to allow ownership of the protocol through revenue capture & governance (soon). It includes GNS holders receiving platform fees through Single Sided Staking, burning of GNS using platform revenue, NFT holders getting reduced spread and boosted rewards, as well as NFT bots executing limit orders and liquidations. Long-term vision gTrade becomes the most adopted decentralized leveraged trading platform. Gains Network becomes a DAO governed by the $GNS token (or a derivative like $veGNS). Its only goal is to create great DeFi products that bring revenue that can be distributed in a $GNS staking pool. Development scales horizontally, any team can create governance proposals to receive funding from the governance and create cutting-edge products that bring revenue to $GNS holders.
Ajayi Johnweb developer
Explore the Core.
Gains Network: Unveiling Confidential Transactions on Blockchain Gains Network tackles a significant hurdle in the world of decentralized finance (DeFi): limited privacy for smart contract computations. Let's delve into its core concept: Problems Addressed: Transparent Smart Contracts: Traditional smart contracts execute code openly on the blockchain, potentially exposing sensitive data involved in the contract's execution. This is a major concern for tasks requiring confidentiality, such as financial transactions or medical record analysis. Limited Scalability: Performing complex computations directly on the blockchain can be resource-intensive and slow down the entire network. Gains Network's Solution: Privacy-Preserving Computation: Gains utilizes a unique architecture that separates computation from verification on the blockchain. Workers: A network of off-chain computing nodes (potentially user devices) with Trusted Execution Environments (TEEs) handle the actual calculations. TEEs are secure enclaves within processors that protect data confidentiality even while processing it. Gateways: These on-chain blockchain nodes verify the integrity of the computations performed by workers without ever seeing the actual data itself. This ensures the computations were completed correctly without compromising data privacy. Gains Network Token (GNS): This native token fuels the Gains Network. Users pay GNS to utilize the network's confidential computing power, while workers and validators earn GNS for contributing resources. Innovative Use Cases: Confidential AI and Machine Learning: Data scientists and companies can leverage Gains to train AI models on sensitive datasets without compromising privacy. This opens doors for advancements in healthcare, finance, and other sectors where data privacy is paramount. Secure Decentralized Applications (dApps): Developers can create dApps that process confidential data securely, enabling new applications in areas like identity management, secure voting systems, and private messaging. Decentralized Cloud Storage: By leveraging TEEs, Gains can offer secure and private cloud storage solutions, allowing users to control their data and prevent unauthorized access. Here are some additional considerations: Project Maturity: Gains Network is a relatively young project with a complex technical architecture. Scalability and Efficiency: Achieving scalability and maintaining efficient computation while preserving privacy remains an ongoing challenge. Network Adoption: Attracting a substantial user base (both those seeking confidential computing and workers providing resources) is crucial for network functionality. Regulations and Security: TEE technology and its integration with blockchain raise regulatory and security considerations that need to be addressed.
Spot the Main Event:
Attention All Builders & Protocols! gTrade is excited to announce the Gains Community Grants Program (GCGP-Bridge) with 💰 112,500 $ARB from the @Arbitrum STIP-Bridge program, which gTrade is honored to be a part of, ready to support innovative projects to build on the gTrade platform! With gTrade’s new v8 upgrade, the possibilities are endless. Join in pushing the boundaries of decentralized trading. 🚀 Learn more and apply today ⤵️
📸 Show Us What You Found:
GLORIA OLUWAFERANMITo God be the Glory
Explore the Core.
Gains Network is developing gTrade, a liquidity-efficient, powerful, and user-friendly decentralized leveraged trading platform. The protocol revolves around the ecosystem's ERC20 utility token (GNS) and ERC721 utility token (NFTs). GNS and the NFTs are designed to be actively used within the platform (utility) and to allow ownership of the protocol through revenue capture & governance (soon). It includes GNS holders receiving platform fees through Single Sided Staking, burning of GNS using platform revenue, NFT holders getting reduced spread and boosted rewards, as well as NFT bots executing limit orders and liquidations.
Spot the Main Event:
They excited to announce the Gains Community Grants Program (GCGP-Bridge) with 112,500 $ARB from the Arbitrum STIP-Bridge program, which gTrade is honored to be a part of, ready to support innovative projects to build on the gTrade platform. With gTrade’s new v8 upgrade, the possibilities are endless.
📸 Show Us What You Found:
Raymond Philipmoderator collab manager blogger
Explore the Core.
No issues
Spot the Main Event:
gTrade is excited to announce the Gains Community Grants Program with 112,500 $ARB from the Arbitrum STIP-Bridge program, which gTrade is honored to be a part of, ready to support innovative projects to build on the gTrade platform.
📸 Show Us What You Found:
Overview
Gains Network is a decentralized platform that aims to revolutionize trading, borrowing, and lending of synthetic representations of realworld assets. The project leverages the Gains Network Protocol, an opensource framework deployable across various blockchain networks, ensuring accessibility through different thirdparty wallet applications or network node clients. The standout feature is gTrade, a decentralized leveraged trading platform that supports multiple asset classes with unprecedented leverage options. Gains Network's mission is to create innovative DeFi products that generate revenue for distribution among $GNS token holders.
Key Features
gTrade Platform: Offers leveraged trading across cryptocurrencies, stocks, forex, indices, and commodities. Up to 150x leverage on cryptocurrencies. Up to 1000x leverage on forex. Up to 100x leverage on stocks. Up to 35x leverage on indices. Synthetic Architecture: Designed for capital efficiency, enabling lower fees and a wide array of leverage options. Utility Tokens: ERC20 (GNS): Used for staking, governance, and capturing platform revenue. ERC721 (NFTs): Provide benefits like reduced spreads, boosted rewards, and functionalities such as executing limit orders and managing liquidations. RNM Algorithm: Enhances liquidity and pricing accuracy for derivatives trading. Single Sided Staking: Allows GNS holders to receive platform fees. Burning Mechanism: Uses platform revenue to burn GNS tokens, reducing supply.
Recent Developments
Version 8 Release: Introduced direct interaction between smart contracts and trading contracts, enabling new use cases and nearly endless scalability. Integration with Balancer: Allows users to trade derivatives directly on Balancer. Gains Community Grants Program (GCGPBridge): Launched with 112,500 $ARB from the Arbitrum STIPBridge program to support innovative projects on the gTrade platform. Partnerships: Secured partnerships with Polygon, Arbitrum, Chainlink, Maker, Pendle, and MUX. Listing on Bitvavo: Expanded market presence by being listed on Bitvavo.
Market Impact
Demand and User Adoption: The unique leverage options and low fees are likely to attract a wide range of traders, increasing user adoption. Market Presence: The integration with major platforms like Balancer and partnerships with leading Web3 entities enhance the project's credibility and reach. Future Growth: The continuous development and scalability improvements position Gains Network for significant future growth in the DeFi space.
Risks and Opportunities
Challenges: Security: Ensuring the security of smart contracts and user funds is paramount. Scalability: Maintaining efficient computation while preserving privacy and scalability. Opportunities: Innovative Use Cases: The platform's unique features and synthetic architecture open doors for new DeFi applications. Community Grants: The GCGPBridge program can foster innovation and attract new projects to the platform.
Community Engagement
Community Size and Activity: Gains Network has an active community across various platforms, including Twitter, Telegram, and Discord. Engagement Strategies: Regular updates, grant programs, and partnerships keep the community engaged and informed. Community Sentiment: Positive sentiment around recent developments and the potential for future growth.
Conclusion
Gains Network presents a compelling investment opportunity with its innovative approach to decentralized leveraged trading. The project's unique features, recent developments, and strong community support position it well for future growth. Traders should consider Gains Network's potential for high user adoption and market impact, balanced against the inherent risks in the DeFi space. The project's continuous innovation and strategic partnerships make it a noteworthy contender in the cryptocurrency market.
This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.