In this week's Wealth Mastery Coin Review, we’ll discuss the following topics about Gains Network.
- What is Gains Network?
- Gains Network Leverage Trading
- Gains Network Staking
- Gains Network Bridge
- Gains Network NFT
- What is a GNS coin?
- How do I buy Gains Network?
- How to buy GNS using Quickswap?
- How to buy GNS using Uniswap?
- Is GNS a good investment?
What is Gain Network?
Gains Network (formally Gfarm) is a liquidity-efficient decentralized leverage trading platform on Polygon (What is Polygon). Leverage trading is a popular financial tool that allows traders to take small amounts of capital and leverage it into more significant positions than they might otherwise be able to. With a few hundred dollars, traders can take positions valued at thousands of dollars, given they have the collateral to do so. Gains Network started as Gfarm until its rebranding in October 2021. Due to a reported bug in January 2021, Gains Network was forced to perform its first significant upgrade to the network after a white hat hacker discovered a critical bug. A bug that would have allowed all liquidity provider funds to be drained from the Gains Smart Contract (What are Smart Contracts). Due to the nature of decentralized finance, this could have easily destroyed the Gains Network.
Thankfully the individual operating the platform was able to liquidate 25% of their development funds to pay the bug bounty and hire a team to launch a new updated version of Gains Network. The timing was perfect as it was discovered shortly afterward an unknown trader had been taking positions to expose this bug and steal funds from the DAI (DAI