Gains Network Stats: Volume, Fees & OI Data
Rating
Trading Info
Fee Comparison
Advantages
- Widest asset coverage among perp DEXes with 290+ pairs across crypto, forex, commodities, stocks, and indices
- Extremely high leverage on forex (1000x) and crypto (150x) without borrowing
- Capital-efficient synthetic leverage model requires less liquidity than traditional approaches
- Battle-tested with 8+ CertiK audits and Halborn review, plus active Immunefi bug bounty
- Multi-chain presence on Arbitrum, Polygon, and Base gives traders deployment flexibility
Considerations
- Trading fees of 0.08% are higher than order book-based DEXs like Hyperliquid or dYdX
- Synthetic leverage model means counterparty risk falls on gToken vault LPs
- Liquidity depth on less popular pairs can be thin, leading to wider spreads
- Complex fee structure with opening fees, closing fees, borrowing/funding fees, and spread components
- Lower crypto trading volume compared to leading perp DEXs despite broad pair coverage
Gains Network Review 2026
Gains Network launched gTrade in early 2022 on Polygon before expanding to Arbitrum and, more recently, Base in early 2026. The protocol carved out a unique niche in the perp DEX space by offering leveraged trading on asset classes that most crypto-native platforms ignore: forex, commodities, stocks, and indices alongside the standard crypto pairs. With over 290 tradable markets and leverage going up to 1000x on forex, gTrade is positioned more as a full-spectrum derivatives platform than a typical crypto perp exchange.
The core mechanic behind gTrade is synthetic leverage. Unlike protocols that borrow assets from a lending pool to create leveraged positions, gTrade uses a custom Chainlink Decentralized Oracle Network (DON) to provide real-time spot prices on-chain. Traders post collateral and the protocol tracks their leveraged PnL synthetically, with gToken vault depositors acting as the counterparty. This approach is significantly more capital-efficient because the leverage is computed rather than borrowed, but it does mean LPs carry directional risk when trader PnL skews heavily in one direction.
Fees on gTrade sit at 0.08% of position size for crypto trades, applied on both opening and closing. Forex and commodity spreads are tighter, with major pairs carrying a fixed 0.01% spread. The fee distribution is weighted toward GNS token utility: 54% of all fees go to a GNS burn mechanism, 22% to governance, 15% to vault LPs, 5% to referrals, and 4% to trigger keepers. This burn-heavy model reduces circulating supply over time, which has been a core part of the GNS tokenomics thesis since launch.
Security has been a priority from the start. CertiK has audited Gains Network smart contracts over eight times across various protocol versions, with Halborn providing additional review. The Immunefi bug bounty program adds a continuous security layer. The v10 upgrade in mid-2025 introduced a funding fee model for major pairs (BTC, ETH, SOL, XRP, BNB) replacing the older borrowing fee system, aligning gTrade more closely with how centralized exchanges handle perpetual funding. The 2026 roadmap signals further expansion into TradFi markets and additional chain deployments.
Related Resources
Frederick Cormack
VC & Crypto Derivatives AnalystDerivatives analyst with 8+ years in crypto & venture capital. Tested every protocol on PerpFinder with real funds.
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Risk Warning: Trading perpetual futures involves substantial risk of loss and is not suitable for all investors. Past performance does not guarantee future results. Only trade with funds you can afford to lose.
Key Features
Audits
Frequently Asked Questions
What is the maximum leverage on Gains Network (gTrade)?▾
gTrade offers up to 150x leverage on crypto pairs, 1000x on forex, 250x on commodities, and 50x on stocks. The leverage is synthetic, meaning positions are not created by borrowing assets but are instead computed against oracle prices with gToken vault LPs acting as the counterparty.
What are gTrade trading fees?▾
gTrade charges 0.08% of the leveraged position size on crypto trades, applied at both open and close. Forex and commodity trades have tighter fixed spreads, typically 0.01% for major pairs. Additional costs include borrowing fees (or funding fees on v10 markets) that accrue over time based on position utilization.
How many trading pairs does gTrade support?▾
gTrade supports over 290 trading pairs spanning crypto, forex, commodities, stocks, and indices. This is one of the widest selections among decentralized perp platforms, with the forex and commodity coverage being a major differentiator from crypto-only competitors.
What chains does Gains Network operate on?▾
Gains Network is deployed on Arbitrum, Polygon, and Base. The Arbitrum deployment handles the majority of volume. The Base chain expansion launched in early 2026, with Polygon being the original deployment from the 2022 launch.
Has Gains Network been audited?▾
Gains Network has been audited by CertiK over eight times across different protocol versions, with Halborn providing additional security review. The protocol also runs an active bug bounty program through Immunefi for continuous vulnerability disclosure.
How does the GNS token burn mechanism work?▾
54% of all trading fees collected on gTrade go toward burning GNS tokens, permanently reducing the circulating supply. The remaining fees are distributed to governance (22%), vault LPs (15%), referrals (5%), and trigger keepers (4%). This burn-heavy distribution model is designed to create deflationary pressure on the GNS supply as trading volume grows.
How does the Gains Network referral program work?▾
The gTrade referral program has two tiers. Allies receive 10% of trading fee revenue generated by referred traders. Ambassadors can earn up to 90% of referral fees. Allies can also refer new Ambassadors, stacking their 10% rewards across multiple referral chains.
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Visit Gains Network — 10% of trading fees (Ally tier)Trading perpetual futures carries significant risk, including potential total loss of capital. Past performance is not indicative of future results.