Gains Network
GNS is the governance and revenue-share token for Gains Network.
- Polygon
- Market Cap: $149.5M
- Fully Diluted Valluation: $149.5M
- FDV / MC: 1
- Ranking inside Exponential (excluding stables): #48
- Circulating Supply: 30,427,828
- Total Supply: 30,427,828
- Total Supply: 30,427,828
- Volume (24H): $6.4M
- ATH: $12.48 (02/17/2023)
- ATL: $0.27 (11/29/2021)
GNS is a low-cap asset that represents the protocol's native governance or utility token. This asset is exposed to the underlying risks of Gains Network, a protocol rated as Risky. The asset has a fixed supply.
GNS trades with little to no correlation to the overall market.
Gains Network
What is GNS used for?
GNS is the governance and revenue-sharing token for gTrade. Stakers receive a portion of platform fees in DAI. It supports the liquidity of the DAI vault by minting rewards for GNS-DAI liquidity providers (LPs), thus allowing the DAI to remain within the vault. This serves to add stability by reducing vault drawdowns and maintaining overcollateralization. GNS is also burned when the DAI vault becomes sufficiently overcollateralized (currently set at 130%) to counter inflationary protocol rewards. Lastly, it serves as the ultimate backstop to traders winning on gTrade through OTC sales of the protocol's wallet reserves.
GNS tokenomics
The max supply of GNS is 100M tokens, with an initial supply of 38.5M in circulation. However, this max supply is just a failsafe mechanism and should never be reached. Over time, the token supply is expected to be deflationary as GNS is burnt.
How does GNS accrue value?
GNS collects 40% of fees from market orders and 15% of fees from limit orders and distributes to stakers (paid in DAI). Since ~70% of trades are market orders, about 32.5% of fees from all platform orders will go to GNS stakers on average. As more GNS gets burnt over time, there should also be deflationary pressure on the token.
