Gaines Network, a decentralized derivatives exchange, recorded trading volume of over $1.5 billion in one month
Derivatives decentralized exchange (DEX) Gains Network has recorded over $1.5 billion in trading volume in about a month after its deployment on the Arbitrum blockchain.
The Gaines Network also contributed to a rise in trading volume on the Polygon network when it was first launched. Gaines is a platform that allows you to trade financial derivatives of various assets such as crypto assets (virtual currencies), US stocks, and indices by matching user transactions using smart contracts.
Such services have piqued the interest of global traders who may not be able to trade US-listed commodities without relying on banks and performing KYC.
The platform has processed more than $25 billion in transaction volume on the Polygon and Arbitrum networks without relying on third parties, data from Dune Analytics shows. ing. As of January 27, stakers have earned 10% of the platform's native token GNS deposited.
Dune Analytics data shows that $1.5 billion in transactions on Arbitrum generated $1.1 million in fees for users who provide liquidity to the platform, increasing the utility of the GNS token. indicates that there is
More than $220 million in transactions have been processed in the last 24 hours. Of that, more than $120 million (about ¥15.6 billion) came from crypto derivatives, $70 million (about ¥9.1 billion) came from foreign currency (FX) products, and the rest came from companies such as Apple and Amazon. Diversified across U.S. listed equities and index products.
Earlier this week, the Gaines Network ran a trading contest with a $100,000 total reward for traders, which may have contributed to the recent volume increase.
The GNS token has surged 40% over the past week, with a market capitalization of $173 million as of January 27th.
｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image:
｜Original: Polygon Derivatives DEX Gains Network Crosses $1.5B in Trading Volume on Arbitrum
Gaines Network, a decentralized derivatives exchange, recorded trading volume of over $1.5 billion in one month | coindesk JAPAN | Coindesk Japan Our Bitcoin News.