Polygon DeFi Awards $250k Funding To GTrade Platform.

Polygon DeFi Awards $250k Funding To GTrade Platform.

2022-01-07 | Daniel Smith

Polygon DeFi Awards $250k Funding To GTrade Platform.

Gains Network, the inventor of the gTrade platform, has received the initial two funds from the Polygon DeFi, getting $250,000 in MATIC tokens to assist it to reach the first important objectives on its grandiose vision.

The gTrade platform is a decentralized, ultra-fast, and liquidity-efficient leveraging trade infrastructure built on the Polygon blockchain, which would be a framework for constructing and interconnecting Ethereum-compatible networks as well as an industry of DeFi apps with quicker rates and cheaper costs.

Investors on gTrade benefit from leverage in respect to median spot prices, zero percent financing costs, and 0 percent price effect. gTrade's asset-agnostic synthetic trading technology, backed by its indigenous GNS token, enables these functionalities. Traders also profit from the most competitive prices available, with deals conducted at the average spot price from numerous exchanges.

Gains Network claims it is now perfectly on its track to meeting the first targets on its plan, which aim for it to maintain $30 million in daily trading volume for a minimal level of 10 days with maximum per-trade security of $20,000 allowed through its DAI vault. It also wants to reach $4 million in GNS/DAI liquidity plus $2 million in total assets locked up in its DAI vault.

The second goals have recently been met simply via organic development, according to Gains Network, whilst the earlier have been met with a present $20 million average daily trading volume plus $18,000 maximum per-trade collateral.
Once those objectives are met, Gains Network would be eligible for a second $500,000 funding from Polygon DeFi as it strives for $100 million in daily trading volume, $50k maximum per deal security, $10 million in GNS/DAI liquidity sources, and $5 million committed in the DAI vault.

Sébastien, the creator of Gains Network, stated that it has been a joy to collaborate with Polygon as it seeks to develop a unique, decentralized, and equitable trading solution.

gTrade's spontaneous development is unsurprising given that the platform currently provides several options for traders, including 43 crypto coins and five to 150-times leverage. It also offers 10 main Forex pairings with leverage of up to 1,000 times.

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