Gains Network
Derivatives · Perp DEX · GNS
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 leveraged trading (gTrade).
Protocol TVL
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+1.3% 24h
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Research
Components, facts, FAQ, timeline, and tokenomics in one place
Main components (4)
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.
Differentiator
Synthetic markets (no spot leg) collateralized by gToken vaults; up-to-150x leverage on majors plus forex and equities.
Organizational structure
Units & roles
- Founder / lead developer
Seb (Sébastien)
Built the original GFARM2 protocol largely solo over roughly a year before the rebrand to Gains Network, and remains the core developer behind gTrade.
Similarity to traditional finance products
How Gains Network maps onto established TradFi structures, and where it diverges.
| TradFi product | Similarity to Gains Network | Key differences |
|---|---|---|
| CFD / spread-betting broker (e.g. leveraged CFDs on forex and equities) | 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. | 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 | The gToken vault functions like a 'house' that wins when traders lose and loses when they win, earning fees for providing liquidity. | Anyone can become an LP in the vault permissionlessly and hold a tokenized, transferable share, unlike a private market-making desk. |