Before we get started, this is not a recommendation or endorsement to buy any token mentioned.
Previously, we have studied the rise of decentralized perpetuals trading platforms on Ethereum L2s like GMX on Arbitrum. In this same family of DeFi products, the breakout star for perpetuals and synthetics trading on Polygon is called gTrade by Gains Network. On the gTrade dApp, anyone can leverage trade on crypto, stocks, and forex. To date, gTrade has built up over $18M TVL and an average daily spot trading volume ranging between $500k to $3M over the last few months. What clearly stands out for gTrade is offering the most leverage of any decentralized, permissionless trading platform.
- 40+ crypto pairs at leverage up to 150x
- 20+ stocks at leverage up to 100x
- 10 forex pairs at leverage up to 1000x
Like any true DeFi application, users are 100% in control of their funds, with no sign-up or KYC required. On Gains, traders trade against Chainlink decentralized oracles with real-time spot prices on-chain. Similar to the DeFi pioneer Synthetix, there are no order books or isolated liquidity for each trading pair.