Gains Network


Frequently asked questions on the protocol.
On this page:

1. On which chains are gTrade available and how do I get funds there to trade with?

gTrade is available on Polygon and Arbitrum One.
Polygon is a side chain to Ethereum, you can read all about it here. MATIC is the native token of Polygon, like Ether is to Ethereum. After you've had a chance to look at the Polygon documentation, you can read more about how to set up to use Polygon for gTrade in Polygon Network Setup and Opening and Closing a Trade.
Arbitrum (specifically Arbitrum One) is a Layer 2 Optimistic Rollup for Ethereum, you can read about it here. Just like Ethereum Mainnet, Arbitrum uses ETH as its native token which is used to pay for gas for transactions. When you have read about what Arbitrum is, instructions on how to get started with gTrade on Arbitrum can be found in Arbitrum Network Setup and Opening and Closing a Trade.

2. What's DAI?

DAI is a stablecoin created by MakerDAO and it's value is pegged 1:1 to the US dollar. It is used as collateral for trades on gTrade both on Polygon and Arbitrum. You can read all about it on the MakerDAO website. "Every Dai in circulation is directly backed by excess collateral, meaning that the value of the collateral is higher than the value of the Dai debt, and all Dai transactions are publicly viewable on the Ethereum blockchain."

3. What's GFARM2 and GNS?

This is all explained under GNS Token.

4. I can't open a trade with 10 DAI - Is there a minimum position size?

The minimum position size is 1,500 DAI on Polygon, and 7,500 DAI on Arbitrum, which is calculated by your collateral multiplied by your leverage. This means if you would like to use a position size of 10 DAI on Polygon, you should use leverage of 150x (10*150=1,500). You can use lower leverage by using higher collateral, for instance you could use 300 DAI collateral with 5x leverage (300*5=1,500).

5. How do I set up practice mode?

Please refer to the explanation here.

6. What is slippage?

Slippage refers to the amount you would be satisfied with the price moving when opening your position. For instance, if the price were to move more than 1% while awaiting the oracle returning the price - you may be unsatisfied with that open. You can set slippage to ensure you open within the price range you are happy to, and if the price deviates from this the trade will not open.

7. Why is the coin/asset I want to trade not listed?

Coins and assets are listed when we can provide a reliable trading experience for them. This is determined based on the availability of a sufficient number of price sources as well as the trading volume and liquidity of the pair from the price sources. The Overview page further describes this.

8. Forex/Stocks/Indices/Commodities says "Closed". Why?

Unlike crypto markets, forex, stocks, indices and commodities are not open 24/7. Please refer to Forex Trading, Stock Trading, Indices (ETFs) Trading and Commodities Trading

9. Where does the collateral go when I close for a profit/loss?

To best understand this please refer to gDAI Vault. In short, if you close in profit you will always be paid out. You are paid out from the vault which bears the risk as the main counterparty to traders. If the trade is closed at a loss, you are paid out the remaining portion of your collateral from the contract and the portion which is your loss goes to the vault. Unless you have been liquidated - in which case all collateral goes to the vault. The portion of the collateral which was your loss remains in the DAI vault to be used to pay out other traders.

10. I closed my trade and don't see it in the trade history, why?

The trade history updates every few minutes because it waits for 100 block confirmations. Updates are being worked on to make this instant.

11. The price hit my TP/SL/LIQ but did not execute. Why?

As there is a slight delay from when an NFT bot executes an order to the response from the DON the price may have very briefly crossed into an executable range but returned to a non-executable range by the response time (if it stayed less than 10 seconds in the zone and the chain was congested for example). In a coming update there will be a lookback feature that keeps a price history for the oracles in order to ensure no executions are missed.

12. Can I go into debt?

No, you cannot go into debt. You can only lose the collateral you stake. Naturally, if your position has reached a position where it must be liquidated (-90%) your loss will be all of your collateral. Otherwise, your gain or loss will be what is returned to you. Do not put up more collateral than you could afford to lose. Stop Losses and Take Profits can be used to help ensure you close your position where you like.

13. Does profit taking close my position?

Yes, at present your position must be closed to take profit. Partial order closure is planned for v7.

14. Can I use other stablecoins as collateral?

You cannot. Other stables can be easily converted to DAI on or for Polygon and or for Arbitrum.

15. I have a lot of collateral. How do I know gTrade is safe?

All trades are on-chain, and all contracts are viewable with all their functions. The contracts have been audited by Halborn, and their previous versions have been audited by Certik, who have now done over 8 audits for Gains Network. gTrade has processed over 25 billion DAI of volume.
All contract upgrades are publicly announced in advance, audited, and contain time locks so that users can see the code base before they become active.
All contracts can be easily viewed on Polygonscan as well as Arbiscan to confirm the functions of the platform, addresses to which can be found under Contract Addresses.

16. What is the "0/2 Confirmations" notification that appears?

This is the number of confirmations that happen on chain before the order appears on the front end. The order has already happened! At the moment you see "Order executed: 0/2 confirmations" the price at that moment was locked in.
The front end only shows your trade once it can be certain enough that the trade has been confirmed on-chain. As each block is 2 seconds, this is 4 seconds from when you see "Order executed".

17. Where else can I find help if I have a problem or question?

Telegram and Discord channels are active - post your questions and a community member or moderator will help you. Please read the chat rules. There is also a text chat box on the gTrade platform you can use - moderators will appear with names in yellow. Moderators will never DM you first, please only use official channels.

18. Why is a rollover fee necessary?

This allows traders to use lower leverages while still allowing adequate risk management for the protocol. Without this the entire maximum open interest possible for a pair could be taken up for a long time (years even on a low leverage stock pair for example) - entirely stopping other traders from even having the option of trading on it!

19. Why is price impact necessary?

This is to allow traders to still have the option of opening in extreme, clear direction market conditions - rather than this necessitating a decrease in the maximum open interest, so traders can still take advantage of these plays. Please see more explanation here in the fees section and the most detailed explanation here in the medium article.