Gains Network (gTrade) is a decentralized perpetuals protocol known for offering the highest leverage in DeFi — up to 150× on forex pairs and 1,000× on crypto micro-positions — along with genuine forex, commodities, and indices trading on-chain, markets inaccessible on most DEXes.
The gDAI Vault
Unlike GMX's GLP which holds mixed crypto assets, Gains uses gDAI — a DAI-denominated vault that is the counterparty to all trades. gDAI holders provide DAI and earn trading fees. The vault's pure stablecoin composition means LP returns are predictable in dollar terms, unlike GLP which fluctuates with crypto prices.
gDAI collateralization ratio is maintained above 100% — if traders win more than fees collected, the deficit is covered by GNS token minting. Conversely, surplus fees buy back GNS. This mechanism ties GNS's value directly to protocol solvency.
Market Coverage
Gains offers trading for: - 50+ crypto pairs (BTC, ETH, SOL, and altcoins) - 20+ forex pairs (EUR/USD, GBP/JPY, USD/JPY, etc.) - Commodities (gold, silver, oil) - Stock indices (S&P 500, NASDAQ, DAX)
This breadth makes Gains one of the only DeFi protocols where forex arbitrage against TradFi markets is possible. During forex market hours (weekdays), price feeds from Chainlink and custom oracles are used. Trading is unavailable during forex market closures.
GNS Token
GNS is the protocol's governance and utility token. GNS stakers earn real yield — a portion of trading fees paid in DAI — making it one of DeFi's clearest examples of "real yield" tokenomics. The staking APY has ranged from 5–25% depending on protocol volume.