• Gains Network, a decentralized exchange (DEX), has reached over $1.5 billion in volume on the Arbitrum blockchain one month after its launch.
• The exchange allows users to trade financial derivatives of different assets, including tokens, U.S. stocks, and indexes, by pairing user trades with smart contracts.
• The current rise in transactional activity on Polygon has been largely attributed to Gains Network, which has managed over $25 billion in transaction volume on the Polygon and Arbitrum networks.
Gains Network, a decentralized exchange (DEX), has seen extraordinary growth in a short period of time, hitting over $1.5 billion in volume on the Arbitrum blockchain around a month after its launch. This surge in transactional activity has been largely attributed to Gains Network, which was first introduced on the Polygon platform. The exchange allows users to trade financial derivatives of different assets, including tokens, U.S. stocks, and indexes, by pairing user trades with smart contracts. This means that global traders can now trade U.S.-listed commodities without the need for banks and onerous Know Your Customer (KYC) rules.
Data from Dune Analytics has shown that the $1.5 billion in trading activity on Arbitrum has yielded $1.1 million in charges for users, providing liquidity to the network and increasing the usefulness of the network’s native GNS token. Moreover, the preceding 24 hours saw users complete trading activity totaling over $220 million, with more than $120 million of that coming from cryptocurrency futures and $70 million from instruments tracking foreign exchange (forex).
Gains Network has also launched a trading competition earlier this week, offering traders $1 million in prizes for trading their favorite tokens on the platform. This competition is the latest sign of Gains Network’s commitment to providing a secure and reliable platform for traders of all experience levels.
As Gains Network continues to grow, it has become clear that the decentralized exchange platform is quickly becoming one of the most popular platforms for traders to use. With its low fees and secure trading environment, traders of all backgrounds will be able to take advantage of the platform’s offerings. With the continuing growth of Gains Network, it is likely that it will become an even more popular trading platform in the near future.