GNS soared 100% after the world’s largest crypto trade, Binance, introduced the itemizing of its Positive factors Community token. As a part of the occasion, GNS turned obtainable for buying and selling on Binance on the spot market towards USDT and BTC, in addition to the flexibility to open margin positions.
Apparently, the asset was listed within the trade’s innovation zone, the place younger and extremely risky tokens are outlined, and, secondly, in gentle of current occasions, there isn’t a pairing towards BUSD.
What’s Positive factors Community (GNS)?
Positive factors Community is the group behind gTrade, a decentralized derivatives buying and selling platform working on the Polygon (MATIC) and Arbitrum (ARBI) networks. Along with the crypto market, gTrade additionally opens up entry to buying and selling international trade charges in addition to shares and inventory market indices. All buying and selling on the platform is completed in decentralized stablecoin, DAI.
GNS is the spine of the gTrade platform. When merchants lose, DAI is shipped to a collateral vault, which then burns GNS when the surplus collateral ratio reaches 130%. As well as, the token may be despatched to staking in an effort to earn a portion of the fee on buying and selling orders on the platform. Lastly, GNS’ provide is kind of restricted and stands at 30.29 million tokens.
To summarize, we get a buying and selling platform within the more and more related DeFi sector that operates on the 2 most hyped networks proper now and gives the flexibility to commerce conventional monetary belongings, whereas its token has deflationary tokenomics and a restricted provide.