Gains Network shatters records in January, setting the pace for a bullish 2023
Gains Network's growth shows no signs of slowing down as the platform experienced a surge in popularity, breaking all-time highs and setting new records in trading volume, profit distribution, earnings, TVL, and partnerships in January 2023. The $gDAI Vault became the largest $DAI holder on Arbitrum, and the fact that other protocols can build on top of it, is ultimately leading to increased accessibility and liquidity for both the $gDAI and $GNS
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Gains Network has started in 2023 with a bang, with the platform experiencing an impressive surge in popularity, breaking previous all-time highs and seeing the monthly traded volume skyrocket from 1.10 billion USD to 3.42 billion USD. Additionally, the profit distribution has surged from 624,000 USD to 2.3 million USD, and the vault TVL has climbed from 14.4 million USD to 42.7 million USD.
The $gDAI Vault has achieved a healthy level of over-collateralization, leading to a higher percentage of trading losses going to $GNS burns, increasing from 1 % to 3 %.
Gains Network has also introduced new asset classes, including commodities like gold and silver and indices such as the S&P 500 and Dow Jones Industrial Average. The platform has updated its trading features, increasing the maximum collateral size and the maximum $ETH open interest. Fixed spreads on $BTC and $ETH have reduced from 0.1 % + to 0.04 %. Additionally, the website backend has improved price feed scaling, and higher timeframe candles now load 20x faster.
Gains Network has launched a Trading Contest with 100,000 USD in $DAI prizes on Arbitrum. In the coming months, the platform aims to prioritize lookbacks, which guarantee the execution of TPs, limits, stop orders, SLs, and liquidations on all pairs for all asset classes. The platform will also decentralize the front-end price steam, improve NFT bot success rates, and generate more accurate PnL.
The impact of Gains Network on the decentralized finance ecosystem is significant, as it has experienced a surge in popularity and set new records in trading volume, profit distribution, earnings, TVL, and partnerships. With the introduction of new asset classes and updated trading features, Gains Network is providing more opportunities for users to participate in the DeFi space.
Gains Network's impressive performance in January highlights its potential to become one of the leading decentralized exchanges. With a growing user base, increased liquidity, and an expanding range of features, the platform is well-positioned to continue its upward trajectory and make a significant impact on the DeFi ecosystem.