Introduction

About GAINS NETWORK

Gains Network (GNS) is a decentralized trading platform where the users can trade cryptos and forex with leverage. Leverage refers to utilizing borrowed capital to trade cryptocurrencies or other financial assets. Gains offers a wide variety of tradable assets. Beyond major cryptocurrencies, the platform also supports large-cap U.S. stocks, including popular tech names like AMZN, AAPL, AMD, among others. The platform also supports trading of major currency pairs. The platform supports 150x leverage on Crypto and Stocks and up to 1000x leverage for Forex. (Ref)

About GMX

Launched in 2021, GMX is a decentralized spot and perpetual exchange enabling users to trade popular cryptocurrencies such as Bitcoin and Ethereum directly from their crypto wallets. GMX went live on Arbitrum in September 2021 and then launched on Avalanche at the beginning of 2022. Unlike decentralized spot exchanges, GMX allows users to do spot swaps and trade perpetual futures with up to 50x leverage while allowing users to have custody of assets in their cryptocurrency wallet. (Ref)

Methodology

Sections

This dashboard shows the following data for Gains Network and GMX:

1. Total volume
2. Total traders
3. Total trade fees
4. Trade volume changes over the past chosen period
5. Traders over the past chosen period

Used Tables

• arbitrum.core.fact_event_logs
• ethereum.core.fact_hourly_token_prices

Used contracts

Gains network:

0x2f67a8d26f370b922b31b199c7946c3ed53c10c6|0x6c612c804c84e3d20e3109c8efd06cd2d8b28f46|0xcfa6ebd475d89db04cad5a756fff1cb2bc5be33c

GMX:

0x3d6ba331e3d9702c5e8a8d254e5d8a285f223aba | 0xb87a436b93ffe9d75c5cfa7bacfff96430b09868

overall stats

Daily changes

According to the charts above during the past 30 days, the average Gains trade volume is increasing but for GMX, the average trade volume is decreasing.

during the past 30 days:

• The total number of transactions and unique Gains network traders is much smaller than GMX.

• for GNX avg tx per trader is about 1.3 but for Gains-network is about 13 tx per trader.

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Conclusion

More traders are using GMX instead of Gains Network.

Gains Network is leadering the volume. Since its inception, the daily volume rapidly surpassed the GMX volume. (Gains Network has 2.5X the volume of GMX.)

In Gains Network, the trading volume per trader is much higher and reaches more than 32 times compared to GMX.

during the past 30 days:

• Gains-network has 2.5X the volume of GMX.
• The fee amount is only calculated on Gains-network.
• The total fee amount of Gains-network is 75k.

• As expected from the overall statistics, the number of transactions and daily active traders for GMX is higher than for GAINS. (The overall active traders are about 1.2K per day, the majority coming again from GMX.)
• The high amount of GAINS fees came on Jan 27 with 6K $USD and Jan 18 with 5.5K $USD.

the daily traded volume is slightly higher for Gains Network.

Dashboard link in old app:

Dashboard link in new app: https://next.flipsidecrypto.xyz/Jinx/evm-7-derivative-daze-5uXRDr