Introduction

GMX | Decentralized Perpetual Exchange

GMX is an on-chain decentralized perpetual and spot exchange trading platform on Arbitrum and Avalanche. Users can trade assets on-chain, without an account, KYC, geographic restrictions, or high centralized exchange fees. The GMX token is the native governance and value-accrual token of the GMX protocol.

The GMX token== is the native governance and value-accrual token of the GMX protocol. 1

Gains Network (GNS): A DeFi Leveraged Trading Platform:

Gains Network is a decentralized derivatives trading platform built first on the Polygon network and expanding to other decentralized networks. On gTrade, crypto derivative traders are allowed up to 150X leverage and up to 1000x for forex trades.

The GNS token== is the native token of the gTrade platform and the Gains Network ecosystem. The GNS token serves as a utility token, a store of value for the ecosystem, and could gain an extra role when Gains Network's decentralized government goes live. 2

Methodology and project overview

In this dashboard, the two mentioned platforms have been examined and also compared in terms of :

The amount of capital attracted, The number of users and the number of transactions, in general, weekly and cumulative trends.

Also, the share of transactions related to these platforms in their respective network in terms of percentage of the total has been reviewed and evaluated on a weekly and overall basis.

In the last part of the dashboard , you can also find the FEE sector which discusses about the amount of fee in usd that generated by the platforms.

you can change the time frame and also the scale (Day,Week and Month) to get your desired results.

default time frame in this dashboard is last 1 month

Trading Stats

Findings and Conclusion

A decentralized exchange (better known as a DEX) is a peer-to-peer marketplace where transactions occur directly between crypto traders. DEXs fulfill one of crypto's core possibilities: fostering financial transactions that aren't officiated by banks, brokers, payment processors, or any other kind of intermediary.
As it is clear from the results, GMX has managed to attract more users and naturally, it has attracted more capital than GNS. However, the number of transactions per user as well as the value of transactions per user were higher for GNS.
As a result, it can be said that GNS users were more powerful than GMX users. But still, in general, GMX has been more successful. Also, GMX's share of all Arbitrum transactions has been above 5% on average (in some weeks it has even reached above 8%), which is a high number and indicates the popularity of this platform in this network. GNS participation in Polygon's transactions has been less than 0.4%, which is a smaller number than its competitor.
So, GMX was more impactful to Arbitrum than GNS to Polygon.

FEE

Contribution

A total of 142k transactions were made by 13.63k users worth $197M on the GMX platform on the Arbitrom network. While, in the same period of time, 32k transactions were made by 1.7k users worth $28.3 million on the GNS platform on the Polygon network.
The average transaction value was $1k for GMX and $874 for GNS.
The average trade value on GMX has been higher than GNS most of the time.
Median weekly trade value in GMX has been lower than GNS most of the time.
The GMX platform has been much more successful than GNS in attracting new users.
58% of GMX trades were under 10 $ value but, 55% of GNS trades were in 10 to 100 $ range.
45% of GMX users did a trade of under 10 $ value but, 43% of GNS traders , did a transaction in 100 to 1000 $ range.
Max trading volume for GMX was 2 M$, While it was 100k for GNS

Looking at the Median, Average and Trade distribution, It seems that , GNS users were wealthier than GMX users !

Findings

Looking at the fee $ over time chart , the daily fee generated by GMX was more higher than GNS, producing 2190$ as fee on January 18th, as max daily fee, and 27k$ as total fee versus 5.4k generated by GNS.
in the last days, average fee per tx per day for GNS platform has surpassed GMX on February 1st
Average fee per trader for GNS, has surpassed GMX too
total average fee per txn for GMX was 0.195 $ against GNS’s 0.166$
total average fee trader txn for GMX was 2.03 $ against GNS’s 3.11$

sources

[1],[2],[3]

Auther

**Moe The Analyst **

Twitter :

@moe88q

Discord :

pine_moe!#8905

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