Gains Network

Gains Network (gTrade) offers synthetic leveraged trading backed by gToken LP vaults; it supports very high leverage (up to 150x) across crypto, forex, and equities/indices, accessible to retail with low minimums.

Synthetic markets (no spot leg) collateralized by gToken vaults; up-to-150x leverage on majors plus forex and equities.

- gTrade: The decentralized leveraged trading platform built by Gains Network. Traders open synthetic leveraged positions on crypto, forex, stocks, indices, and commodities using stablecoin collateral, with prices sourced from a custom Chainlink oracle network rather than a traditional order book. - gToken Vaults (gDAI / gUSDC / gETH / gBTCUSD / gGNS): ERC-4626 tokenized vaults that act as the sole counterparty to all trades on the collateral they back. When traders lose, losses flow into the vault; when traders win, profits are paid from it. Vaults receive a share of trading fees, which appreciates the gToken exchange rate for liquidity providers. - GNS token: The native ERC-20 utility and value-capture token. Used for staking (fee discounts up to 50%), revenue sharing via buyback-and-burn, and as a balancing/backstop mechanism for the vaults. Max supply capped at 100,000,000. - Custom Chainlink DON: An on-demand real-time Chainlink decentralized oracle network. When a trade is submitted, gTrade's node operators each return a median spot price aggregated from multiple exchange APIs, and the aggregator contract takes the median of the responses so there is no single point of failure.

- Gains Network (GNS) — Token, Governance token (gGNS vault collateral)

- Counterparty: The gToken vaults (gDAI, gUSDC, etc.) are the direct counterparty to every trade. During sustained periods where traders' net PnL outpaces collected fees, the vault's backing can be drawn down, exposing LPs to losses and impairing the gToken exchange rate. - Oracle: Execution prices depend on gTrade's custom Chainlink DON, which fetches median spot prices from a set of exchange APIs. Oracle latency, feed manipulation, or thin off-chain liquidity on a given asset could allow mispriced fills or be exploited, which is especially sensitive given leverage up to 150x. - Smart Contract: gTrade uses an upgradeable Diamond (EIP-2535) architecture across multiple chains and vault contracts. Bugs in the diamond facets, vault accounting, or the oracle aggregator could cause loss of user or vault funds despite audits and timelocks. - Governance: A June 2022 CertiK audit flagged a centralization / privileged-role concern (acknowledged), and governance can alter core parameters — e.g. the 'Make Gains Great Again' vote paused buyback-and-burn in 2026. Concentrated control over upgrades and reward policy is a governance risk to token holders and LPs. - Systemic: As a synthetic leveraged venue, gTrade is exposed to correlated, cross-market stress: simultaneous large adverse moves across crypto/forex/equities positions, cascading liquidations, or a stablecoin depeg of the collateral (DAI/USDC) could stress vault solvency at once.

- CFD / spread-betting broker (e.g. leveraged CFDs on forex and equities): similar — Both offer high-leverage synthetic exposure to crypto, forex, indices, stocks, and commodities without holding the underlying asset, with the platform/liquidity pool acting as counterparty.; differs — gTrade is non-custodial and on-chain, settles in stablecoins via smart contracts, uses a Chainlink oracle network for pricing, and its counterparty is a permissionless ERC-4626 LP vault rather than a licensed broker's balance sheet. - Prop/market-maker liquidity pool acting as house: similar — The gToken vault functions like a 'house' that wins when traders lose and loses when they win, earning fees for providing liquidity.; differs — Anyone can become an LP in the vault permissionlessly and hold a tokenized, transferable share, unlike a private market-making desk.