a month ago 1 min read

DeFi Protocol Continues to Win Network Support While it Booms?

defi-gain network-binance-arbitrum

Gains Network [GNS] has been a market leader in the cryptocurrency space, and now supporters may celebrate once more. The biggest cryptocurrency exchange in the world, Binance, was to host the launch of GNS, the protocol's native token.

The coin would be featured on Binance in the innovation area, where users may trade new tokens with potential for more volatility. The news thrilled GNS holders, as the price increased by roughly 40% at the time of writing.

The Story of the Extra "Gains"

Gains Network was introduced in 2021 and is built on Polygon [MATIC] and Arbitrum. Key performance indicators for Gains Network, a perpetually focused protocol similar to dYdx and GMX, have recently increased significantly.

The protocol's user fees climbed by around 280% during the last 30 days, while its revenue increased by more than four times. High user fees have historically attracted liquidity providers to a DeFi system. On the other hand, a temporary increase in revenue for GNS holders would increase demand for the token.

Due to the exponential growth of trading fees, Gains Network and other well-known market participants are now placed sixth among the top 10 decentralized exchanges. The DeFi protocol experienced the best month-over-month (MoM) growth when compared to the exchanges that were listed above it.

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