Crypto derivatives trading is among the fastest growing financial areas of the decentralized finance (DeFi) ecosystem. However, the current crypto derivatives market is mostly limited to blockchain-backed derivatives, largely because few on-chain synthetic assets or other similar tools can mirror the performance of off-chain assets.
Gains Network, the Polygon-based leveraged decentralized trading platform, has addressed this ecosystem deficit and created a new investment opportunity for DeFi fans. It has launched a new product line that allows users to trade the price of stocks on-chain with leverage.
According to the latest development, Gains Network’s gTrade is now the first crypto derivatives platform to offer leveraged trading based on real-world stock prices.
The addition of the on-chain stock price marks a turning point for the Polygon network and the broader DeFi ecosystem. Currently, the leveraged share price trading feature has been introduced as a beta launch to ensure everything is working as intended. Once the results of the beta launch are compiled, gTrade will add more real stocks.
Apple (AAPL), Letters (Google) and meta (FB) On-chain stocks went live on gTrade on May 2nd when the real stock market opened at 9:30am EST. Finally, on May 9, the team will add a second batch of 20 more US stocks that have yet to be announced.
Users get access to high leverage with no financing or lending fees. Additionally, by leveraging Chainlink’s decentralized oracle network, gTrade ensures that spot prices of listed stocks are accurate and updated in real-time, while reducing fraud, liquidation risk, and trading price impact.
Gains Network uses a novel synthetic leveraged trading infrastructure based on the platform-native $GNS utility token. As a result, the ecosystem uses two pools of liquidity to execute all trades on the gTrade platform, eliminating the need for the underlying protocol to build liquidity for each trading pair.
Commenting on the launch of the first-ever leveraged on-chain stock price trading feature, the Gains Networks founder said: “We are excited and honored to be the project that takes DeFi a significant step forward by being the first offering synthetic leveraged trading on the spot price of US stocks. Use cases are getting closer to what TradFi offers, and the user experience is finally reaching an acceptable level for mass adoption. It truly is the most exciting time to be in DeFi.”
With gTrade, traders can already participate in leveraged trading at mid-spot prices with 0% financing fees and 0% price impact – all made possible by its unique asset-agnostic synthetic trading architecture, powered by the minting and burning of its native $GNS token.
The platform currently offers 43 cryptocurrencies with leverage from 5:1 to 150:1 and 10 major forex pairs with leverage up to 1000:1.
Additionally, gTrade APIs support almost all US-listed stocks, giving the team the strategic advantage to introduce more tickers for on-chain leveraged stock price trading.
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