A DeFi platform says its decentralized approach to leveraged trading offers crucial advantages over centralized rivals.
Gains.farm says it offers real-time prices and lightning-fast transactions — and boasts a network of five Chainlink nodes that delivers up-to-date information from seven trusted data sources, with results that are aggregated by taking the median two times.
This approach has delivered users an all-important upper hand during the recent bout of volatility that shook the crypto markets, which saw the values of Bitcoin and Ether fall dramatically within a few hours.
Gains.farm claims its platform was one of the few protocols that delivered accurate prices throughout — by contrast, one decentralized competitor quoted ETH’s value at $900… despite the fact it only reached lows of $2,117.04. Some centralized platforms went down, meaning traders were unable to manage their positions.
A unique Chainlink and Polygon integration
Developers at the project say they offer the most advanced Chainlink integration ever made live on a mainnet. The platform doesn’t use this oracle provider’s default feeds because they are only updated once an hour, and built its own real-time price feed in response.
Gains.farm has also embraced a layer-two solution, meaning that it takes a few seconds to open and close trades on average — with gas fees typically coming in at $0.001. Given how transaction costs continue to overshadow the DeFi sector, this helps to deliver a level of usability that many other platforms cannot match. Better still, every user can access real-time stats on their trading performance directly through the website.
Features found in the Gains.farm ecosystem can be unlocked through the use of NFTs. Five types exist in total — advancing from bronze, silver and gold to platinum and diamond. Each offers greater levels of leverage on their decentralized leverage trading platform, ranging from 25x to an industry-leading 150x.
Gains.farm also claims that its fees are lower than many competitors on the market, given how 1% is charged on collateral that’s put up for a trade rather than the whole leveraged amount — a stark contrast to other operators in this space.
More insights from Gains.farm here
Given how its platform is rather experimental in nature, developers also stress that security is a top priority. As a result of this, Gains.farm’s smart contracts have been audited four times by CertiK. Overall, it has received a security score of 88/100 from this independent provider, which is comparable to the likes of Aave and Tether.
Gains.farm regularly updates a roadmap which shows the medium-term plan for the ecosystem. Upcoming features include giving users the ability to select their price and slippage tolerance — meaning that, if prices end up moving too much, trades will not be opened. Stop loss, take profit and long/short limit orders will also be introduced.
The ecosystem also has flexibility to list any asset as long as there are enough APIs to fetch the prices, creating opportunities for new cryptocurrencies to be supported in the future. Gains.farm says that its goal is to support more coins in the months ahead — alongside major forex pairs, commodities and some of the biggest stocks in the U.S. markets.
Overall, the ambition is simple: To become the biggest, most-used cross-chain DeFi ecosystem in the industry. GFARM2 tokens are at the beating heart of this platform, and deliver an interesting twist when it comes to tokenomics. New tokens are created whenever someone wins a trade, and they are burned after a loss. Overall, the project expects that this will make GFARM2 deflationary in the long-term.
As ever, given the unpredictable nature of the markets and the risks that are associated with using leverage, Gains.farm stresses that users should never risk more than they can afford to lose.
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