Gains Network Unlocks $250,000 To Support Leveraged DEX gTrade
Gains Network, a Web3 start-up that addresses decentralized trading platforms on Polygon (MATIC) blockchain, is heading toward its first significant milestones with the first $250,000 unlocked.
Gains Network unlocks first batch of Polygon grant
According to the official announcement shared by the team of the Gains Network, the first batch (33%) of its grant from Polygon Foundation is now unlocked.
The $250,000 allocation will fuel the next phase of development of gTrade, a leveraged cryptocurrency exchange and trading platform on Polygon (MATIC).
The list of the first milestones includes two targets, i.e., reacing a sustaining $30 million in net daily trading volume for all pairs for at least 10 days and a $20,000 maximum per-trade collateral as enabled by its DAI vault.
Both additional targets for the first stage of development - $4 million in liquidity for the DNS/GAI pool and $2 million in total volume of assets locked in the DAI vault - are already accomplished by gTrade.
Advancing leveraged noncustodial trading services on Polygon
Besides that, the platform has already registered $20 million in daily trading volume and an $18,000 max per-trade collateral (200% increase since launch).
gTrade platform is a pioneering leveraged trading service for Polygon blockchain. As of early Q1, 2022, it works with 43 cryptocurrencies with up to 150x leverage.
Also, 10 major foreign currency exchange (ForEx) pairs are available with up to 1000x leverage. The accuracy of prices is guaranteed by Chainlink's oracles infrastructure.Source