DeFi trading platform, Gains Network launches leveraged trading of US stock prices!
Through its gTrade platform, the Decentralized Finance (DeFi) ecosystem will enable leveraged trading in US stock markets.
Gains Network is launching its beta version on-chain leveraged trading US stock prices via gTrade. This decentralized trading platform offers a full-fledged DeFi environment. A Gains Network statement states that the beta launch will begin with three US-listed stock, $AAPL and $GOOG. It added that more US stocks will be added to the platform after a successful beta-testnet period.
Leveraged trading for US stock prices was announced Tuesday, May 3. Users will be able to trade stocks prices on-chain using leverage up to 150x. The launch of leveraged trading for US stock prices will increase liquidity and mark a significant milestone in DeFi as it is the first ever platform that allows users to trade publicly traded stocks with leverage up to 150x.
“We are delighted and honoured to be the project that takes DeFi a significant step further by being the first to offer synthetic leveraged trading on the spot price of US stocks,” Gains Network Founder Sébastien comments. “Use cases are getting closer to what TradFi offers, and the user experience is finally reaching acceptable levels for mass adoption. It truly is the most exciting time to be in DeFi.”
Polygon is the basis of the Gains Network, which offers a complete DeFi ecosystem that includes rewards using its deflationary token $GNS and deeply integrated tokens (NFTs), staking pool options that offer value and high returns and leveraged trading through the gTrade platform.
Team members claim that leveraged trading stock prices offers users the most cutting-edge technology as well as a simple UI/UX and high leverage. The first is that there won’t be any funding nor borrowing fees. This will allow users to maximize their profits. Users will also be able to leverage up to 150x on crypto assets via gTrade. Finally, the platform has integrated Chainlink’s decentralized oracles to provide real-time and trustless stock prices to the platform.
gTrade’s innovative, synthetic-leveraged trading structure powered by $GNS token is used to ensure seamless trading and greater liquidity. Two liquidity pools are available on the platform to execute trades for any asset listed on gTrade. This reduces the requirement for a separate liquidity pool for each pair. The platform offers traders synthetic leverage, which allows for a higher level of liquidity efficiency. The platform has no fraud wicks and minimizes liquidation risks. There are also no price impact on trades.
gTrade’s support for nearly every stock listed in America will be available over the next few weeks and months. All publicly traded stocks will soon be listed and available for leveraged pricing trading.
Leveraged trading on the US stocks that are currently leading on gTrade ($GOOG, $AAPL and $FB), went live May 2, 2022, at market opening. In less than a week, the platform plans to release its second batch, which will contain 20 large stock prices in the United States.