The Gains Network has launched the world’s first on-chain decentralized stock trading protocol on Polygon.
On Tuesday, April 3, the DeFi protocol launched its beta on-chain decentralized stock trading platform dubbed “gTrade,” making it the first cryptocurrency platform to offer an on-chain stock trading dApp. The protocol announced the platform via its official Twitter account.
The Gains Network is a decentralized financial ecosystem (Defi) built on Polygon. Recently, the decentralized ecosystem has been fueling a significant revolution in the history of decentralized finance as it seeks to solve the current limitations of cryptocurrency derivatives, where possible derivatives are mostly limited to blockchain-backed products as only a few on-chain assets can replicate the performance of assets that are not blockchain-backed.
To address some of those limitations, the Gains Network launched its gTrade platform to allow its users to easily trade stocks on-chain. The team launched the platform as a beta testnet and currently includes three top US stocks: $FB, $GOOG, and $AAPL. Also, the Gains Network intends to list 20 more top US stocks on May 9, details of which have not yet been announced, and redefine the gTrade interface and UX/UI.
The gTrade trading platform is packed with great features to enhance users’ trading experience. The platform allows users to open positions without incurring any funding or borrowing costs.
Unlike its other major competitors, it uses synthetic leverage instead of borrowed one to lower the trading barriers for retail investors and newcomers to Decentralized Finance. Also, the platform uses a purpose-built Chainlink-powered oracle system to allow its users to trade with high leverage and enjoy accurate prices.
Furthermore, the platform API supports almost all United States stocks, giving the Gains Network team the strategic advantage to introduce more tickers for on-chain leveraged stock price trading.
