Top DeFi trading platform, gains network, has announced the launch of its on-chain decentralized trading platform (gTrade), which enables users to trade the US stock market from inside the gTrade platform.
Since the platform is still in the beta stage, it will only feature three US stocks on launch day ($AAPL, $GOOG, and $FB). The official statement added that the beta test results would determine how the team will add other US stocks to the decentralized trading platform.
The New Platform Offers Up To 150X Leverage
Gains network users can trade US stocks using up to 150x leverage. Apart from enhancing the liquidity of decentralized trading, it also marks a significant achievement in the history of the DeFi space. It is the first time any DeFi platform will enable leveraged trading on publicly traded US stocks.
The network’s CEO, Sebastien, opined that “we are excited to launch the first-ever project where investors can trade spot price of US stocks with leverage through an on-chain DeFi platform.” He further said, “use cases are gradually being similar to what obtains in the traditional finance sector while the user adoption continues to soar towards mass adoption levels. Indeed, it is the best time to be involved in the DeFi sector.”
The polygon-built gains network is a cutting-edge DeFi project with rewards through its native token, $GNS, NFTs, decentralized leveraged trading, and staking pools. The staking pools offer immense value with exceptional ROI. The new leveraged trade platform users will have access to modern technology, and a simplified user interface with an excellent user experience.
Other Benefits For Platform Users
Users can earn maximum profits from their staked funds since the platform does not charge any fees for funding or borrowing. Also, the gTrade platform allows leverage of up to 150X to enable users to trade the digital asset market better. Lastly, the gTrade platform will utilize Chainlink’s decentralized oracles to offer live and trustless stock prices for the platform’s users.
Before the end of this quarter, gTrade will be open to more users as almost all the publicly-traded stocks in the US stock market will have become available by that time. The beta testing of the gTrade platform is already up and running since the market opened this morning. Over the next seven days, the gains network team plans to add 20 more top US stocks to the platform.
The Biggest Market Maker Globally Expands Into Defi
The DeFi sector continues to attract different players from the traditional finance space. On Tuesday, top market maker, Jane Street Capital, announced plans to explore the DeFi space and is about to secure a $25M worth of USDC loan to explore the DeFi space.
Part of the announcement revealed that Blocktower and Clearpool would provide the necessary support to facilitate the loan for Jane Street. Despite being one month old, Clear Protocol is facilitating a DeFi-related loan deal for a top wall street firm, the first time this kind of deal will ever happen. There would still be more interoperability between the DeFi and CeFi firms.