Decentralized Finance News

Actualité de la finance décentralisée , #crypto #NFT

GNS token, the utility token for decentralized trading

Oct 28, 2021
4.89 (1473 votes)

GNS, the utility token for decentralized trading. The token that gives you access to trading with leverage and without a broker.


GNS is the essential token utility in order to trade cryptos or other markets without a broker. It allows you to trade on the platform while keeping control of your money since you keep it on your own account Metamask. You have no money transfer to make to the platform.

The decentralized finance news will have been marked at the beginning of 2021 by the first fully decentralized trading platform live on Layer 2.

GNS token:

To begin with, let’s specify that Gfarm2 is 100% community distributed token through farming, no private or public presales and it’s the main pillar around which the whole protocol revolves around.

The token is used to interact with the different products, it is even essential because without it you cannot interact on the trading platform.

The platform’s NFTs:

The NFTs offered are a set of 5 different types of NFTs that are the master keys to the entire ecosystem.

They reduce the spread and let you execute limit orders in the trading platform, and boost your deposit in the farm.
More benefits will be revealed as the ecosystem expands.

Distribution:

All NFTs were originally claimed by liquidity providers who supplied at least 1% of the total liquidity.
They were rewarded with NFT credits which allowed the purchase of these NFTs.
The diamond keys is the most rare, and required the biggest amount of NFT credits.

GNS for decentralized trading:

GNS decentralized trading platform

Gains.trade gives you access to a robust decentralized trading platform that is active and running on Polygon layer 2 and is deeply integrated with Chainlink.

How does it work?

A decentralized trading platform with up to 150x leverage that does not borrow leveraged funds. How is this possible?
GNS is used to open positions on the platform. Opening the position will burn the GNS tokens from the total supply. The transaction can evolve in three different ways:

  1. If the position is closed while in profit, the original position plus profits are minted back.
  2. Also, if the position is closed while at a loss, the original position minus the losses are minted back.
  3. If the position enters the liquidation zone, any NFT owner can liquidate the trade and keep part of the initial position for him/herself (5% to NFT holder and 5% to LPs).

You can therefore trade without a broker, with leverage, and keep complete control of your money since no deposit/sign up is required.

Want to know more?

Decentralized leverage trading

Vous aimez, partagez-le à vos amis, merci!