Gains Network

What is Gains Network (GNS)?

The Gains Network happens to be a decentralized finance (DeFi) ecosystem filled with numerous products on both the Arbitrum and Polygon chains. The most prominent feature found on it would be gTrade, a decentralized trading platform with leverage that can facilitate both cryptocurrency and non-cryptocurrency trades.

Background of Gains Network

Gains Network was established fairly recently, in 2021, just two years ago. Since then, it has gone through eight security audits that Certik conducted and published, with the most recent update being v6.2. Moreover, for each major update so far, the team has conducted several audits and plans on doing so for the rest that are to be released.

Founding Team and Their Vision

As of now, the team behind Gains is robust, with all of the members using only their handles or first names to identify themselves. Seb, the project’s founder, worked on it exclusively for the first year. But once the project expanded along with its needs, he recruited more members, such as Uri, Nathan, Crumb, and more. Its team has therefore been actively working on the current iteration of the project and its future evolution, all to the benefit of its existing user base and those it will have in the future, the expansion of which is one of its underlying visions.

Core Objectives of GNS

One of its main goals, from the start, has always been to bring its gTrade platform to being the most utilized decentralized leveraged trading space.

To that end, it aims to produce the most excellent DeFi products that will garner attention.

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Technical Infrastructure of Gains Network

Within this section, we will be looking at the underlying technology of the Gains Network, namely blockchain and smart contracts.

Blockchain Technology Behind GNS

Like any cryptocurrency platform, Gains is blockchain-based. The blockchain is essentially this ledger filled with distributed data that’s secured by its very nature.

Simply explained, the technology allows for a collective group with a select number of participants who can share the data.

Smart Contract Functionality

However, to execute the various transactions on its network, such as buying, selling, or trading, Gains uses smart contracts as its underlying code.

Smart contracts are essentially programs that execute when predetermined conditions have been met.

As alluded to earlier, its smart contracts have already undergone numerous independent audits, all of which Certik has conducted.

Core Features of Gains Network

Now let’s look at some of the core features that one can find here, including staking and asset management.

Asset Management

This is where we mention gTrade, Gains’ very own decentralized exchange or asset management platform. Here, you can deposit your assets and trade using several options and with leverage.

In other words, you are presented with several ways of managing your assets, either trading them or simply staking them to accrue some returns.

However, the options may be a bit limited when compared to other exchanges out there, in terms of cryptocurrency selection and more.

Yield Farming and Staking

At one point, the network used to include multiple distinct reward pools. For example, these included the DAI Vault, GNS/DAI Pool, and Farming Pool, which all catered to various distinct functions. However, these do not seem to be available any longer.

So, yield farming and staking do exist on the platform and can be accessed through the Earn drop-down menu on its homepage, albeit in a bit of a limited sense now.

Community and Governance in GNS

Recently, Gains launched its own DAO, finally giving its community a much-needed voice. In other words, they have a hand in decision-making now and get to vote on proposals that have lasting impacts on the ecosystem and its future.

Decentralized Autonomous Organization (DAO)

Decentralized autonomous organizations, or DAOs for short, have been emerging as an alternative to centralized governing structures in that they have no central governing bodies.

Rather, it is governed by its members, or the “community,” all of whom share a common objective in acting in the underlying entity’s best interests.

They have been made popular largely through blockchain and cryptocurrency enthusiasts and utilized in making decisions through that bottom-up management approach. 

Community Engagement

As highlighted earlier, there is an entirely fresh sort of community engagement brought into the realm of governance.

On the Gains Network, for instance, its community engages in governance within a framework that consists primarily of what the Gains’ team refers to as The Forum and Snapshot.

The Forum is essentially its discord server, which has its own unique procedures, and Snapshot refers to on-chain proposals.

The Forum is usually where most of the discussion and decision-making takes place, whereas Snapshot would be the place to finally enact those decisions.

GNS Tokenomics

Here, we will be directing our focus to the Gains Network’s native token, GNS, going through some of the roles it plays and some stats pertaining to it.

Purpose and Use Cases for GNS Tokens

The utility underlying the GNS token lies in how it essentially powers the entire network, is integral to making sure there’s enough liquidity on the platform, and also plays a vital role within governance, where users use the tokens they own to vote on various proposals.

Distribution and Supply

The GNS token is deflationary in nature, and when it initially launched, its supply was 38.5 million tokens, and it has been burning ever since—around 20%, in fact, according to Gains itself. As for its initial distribution, the governance fund and the development fund were each allocated 5%.

Incentives for Holding GNS Tokens

The primary incentives for holding would involve the staking options provided by the platform, such as Vault, for example, which provides an APY of 11.9%. Other than that, if you care about governance, you can also hold onto it in case you feel like voting on proposals.

Buying GNS Tokens on Binance

If what has been discussed so far has garnered your interest and you are looking to buy its native token, GNS, then we’ll show you how you can do that on Binance.

Steps to Register

To register on Binance, you can do that by clicking on the link below, which will take you to Binance’s Registration Page using a special Coin-Labs referral code. Over there, you’ll have to fill out a few fields, like your email address, password, etc., and get done with registration.

Verification Process

This would be its KYC process, and that can be done on its verification page. So, once you head there, you will need to enter some basic information about your identity and provide some documentation evidence backing that up, including some government-issued  ID photos, utility bills, bank statements, etc.

Two-factor Authentication (2FA)

There will be some security measures that you can undertake to amplify your account’s security on Binance. These will include 2FA and biometric scanning. To get done with the 2FA setup, though, go to Binance’s security page, click on the 2FA option, and follow the instructions that Binance will provide to complete the setup, which will likely include downloading an authenticator application, such as that of Google’s or Binance’s own application.

Funding Your Binance Account

To fund your account, i.e., to make that first deposit, you can do that on Binance’s deposit page. Once there, select a token you wish to deposit and a network that supports it. After that, you’ll see a deposit address being generated. Copy that address and paste it into an external service or exchange to confirm the transfer from there.

Making Your First GNS Purchase

Once the deposit has arrived in your account, you can finally move on to buying some GNS tokens. Since it’s on Binance, you will be provided with numerous different options for doing just that. However, it should be noted that the easiest would probably be simply converting tokens or swapping them for some GNS. Others will include spot, futures, and P2P trading, but they may take a while to execute and to understand if you’re a beginner.

Storing Your GNS Tokens Safely

So, once you have bought some GNS tokens, you might want to transfer them securely into your wallet, which you can do on Binance’s withdrawal page. Once you have navigated to it, select the token and a network that supports it. Following that, specify the amount you wish to withdraw, and then paste your wallet’s address within the withdrawal field. Your transaction may take a while to fully process.

Future Prospects of Gains Network

The Gains Network has come a long way since its launch; even after releasing its own DAO, it still has a ways to go in terms of ironing out everything and even launching new features or supporting new tokens on its exchange, which it could do more of and which it also likely will. Still, other than that, it doesn’t have any new roadmap for this year or any other fairly big updates planned, at least from what we have gathered.

Conclusion

The Gains Network is already in a highly competitive field or market, that being DeFi, and it seems like it has some ways to go before it is to establish itself well within the market. Still, it has been developing its community and features, so it may yet achieve the goals it has laid out for itself.

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Therefore, we are not responsible for the investment decision in Gains Network and the resulting loss.

Gains Network Basics

Here are some factors that investors should consider before investing in Gains Network.

Cryptocurrency Features	Gains Network (GNS)
Publisher or Developers	Seb
Headquarters (Registration Number)	France
Symbol	GNS
Platform	Ethereum
Published Date (CMC Registration)	2024-11-01
Max Supply	No limit

Reliability Score of Gains Network in 2024

These are indexes mesuring the investment reliability of Gains Network conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 5 Exchanges
Number of Available Pairs Worldwide	241 Pairs
Market Cap of the Cryptocurrency	161,880,790 USD (Rank #262)

The table above shows the result of investment suitability evaluation for Gains Network.
Check out how we evaluate cryptocurrencies on the crypto rating description page.

Gains Network Price

Here are the price and recent trading volume of Gains Network. (Data of 2024-11-02 00:35:00)

Price Items	Price and Trading Volume of Gains Network
Gains Network Price	1.719 USD
Price Change 24h	-0.26%
Price Change 7d	-4.75%
Trading Volume 24h	2,313,612 USD
Trading Volume Change 24h	-9.77%

Cryptocurrency Metadata

You can check the development status and social media information of Gains Network through the links in the table below.

Metadata Source	URL
🌎 Official Website
📖 White Paper
🛰️ Source Code (GitHub)
🐦 Twitter
🤖 Reddit
🎺 Message Board

Where to Buy Gains Network

Here are the top ten world crypto exchanges where traders can buy Gains Network in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Listed	https://www.binance.com/en/trade/GNS_BTC
Coinbase	Not listed
Kraken	Not listed
KuCoin	Listed	https://www.kucoin.com/trade/GNS-USDT
Bitfinex	Not listed
OKX	Not listed
Huobi	Listed	https://www.htx.com/en-us/trade/gns_usdt?type=spot
Bitstamp	Not listed
Bybit	Listed	https://www.bybit.com/en-US/trade/spot/GNS/USDT
Gate.io	Listed	https://www.gate.io/trade/GNS_USDT

Frequently Asked Questions