The decentralized finance (DeFi) ecosystem will introduce leveraged trading of US stock prices via its gTrade trading platform.
Gains Network, a fully-fledged DeFi ecosystem, is launching its beta version of on-chain leveraged trading of US stock prices on gTrade, a decentralized trading platform. The beta launch will start off with three US-listed stocks namely $AAPL, $GOOG, and $FB, a statement from the Gains Network team reads. More US stocks are set to be added to the platform following a successful beta testnet period, it added.
Announced Tuesday, May 3, the launch of leveraged trading of US stock prices will allow users to trade prices of stocks on-chain with leverage of up to 150x. This aims to boost the liquidity of decentralized trading while marking a crucial milestone in the DeFi space as the first-ever leveraged trading DeFi platform for publicly traded stocks.
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Built on Polygon, the Gains Network provides an innovative full-suite DeFi ecosystem including rewards via its deflationary token, $GNS, deeply integrated non-fungible tokens (NFTs), staking pools that provide value and high returns, and decentralized leveraged trading via the gTrade platform.
According to the team, the latest launch of leveraged trading of stock prices will provide users with cutting-edge technology, a user-friendly UI/UX, high leverage, and a superior user experience. First, there will be no funding or borrowing fees, allowing users to make as much profit as possible. Secondly, users will be provided with high leverage of up to 150x, which is also offered on crypto assets on gTrade. Finally, the platform has integrated Chainlink’s decentralized oracles to provide real-time and trustless stock prices to the platform.
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In the coming weeks and months, gTrade will add support for virtually all US-listed stocks, opening up the platform to more users. Every significant publicly traded stock will be listed in the future and be available for leveraged price trading.
The leveraged trading of the three front-running US stocks on gTrade ($GOOG, $AAPL, and $FB) went live on May 2nd, 2022 at market open. The platform aims to launch the second batch, containing 20 big US stock prices, on May 9th, 2022, a week from today.
