🚀 V5 trading platform live on mainnet! (October update)
So much was achieved during the last 30 days. It is time for an official update! (medium-term roadmap revealed)
Everything goes so fast in crypto, it is sometimes great to take a step back to realize the progress being made in such a short period of time.
It’s like watching a plant grow every day, you don’t notice the changes day by day but one day you realize how much it has grown.
However, it is different for us.
If you are in our telegram group, you have been watching a full fledged trading platform being built from the ground up with noticeable daily progress EVERY DAY for almost one year now.
Growing and improving this platform has been such a thrilling and incredible journey, we thank everyone in the community for the amazing support.
🎉 $20m+ daily volume less than 48h after the successful v5 launch on the Polygon mainnet!
This is it. The update has been live for almost 48 hours now on the Polygon mainnet, and everything has been running smoothly.
We have received absolutely incredible feedback from our traders, who love the optimizations made to the UI and UX.
This achievement makes us proud, and confirms our long-term vision much sooner than we thought.
A few traders have shared they found the trading experience so good that they quit centralized exchanges to trade on Gains.farm only, and this without even taking into account the decentralization aspect.
Our latest update definitely puts us on the right path to become the #1 decentralized leveraged trading platform.
If you want to discover all improvements coming with the v5, please read the previous Medium article.
To name a few: trade with DAI directly, trading vault (asymmetric buying pressure), 10 forex pairs listed, major UI improvements.
⚗️ Full medium-term roadmap.
1. Trading contest
More details coming very soon :)
2. Whitelabel/Referral partnerships
There are ongoing discussions with Quickswap and other trading communities about potential partnerships. More details will be revealed later.
Interesting thought: Referrals can also be used to incentivize the creation of new front-ends.
Our long-term goal is to have dozens of front-ends to interact with our trading platform. Very detailed docs will come on this subject.
This would make the full stack of the protocol fully decentralized & censorship-resistant, and also everyone would be able choose the front-end he likes the most.
By integrating your referral link directly into your front-end you will be able to earn a % of the trading volume of all users you bring to the platform.
3. Continuous UI/UX optimizations
We’re always listening to the feedback of users & traders to make the trading experience as enjoyable and professional as possible.
4. Adapt existing tools to use the new contracts
For example Dappradar which allows everyone to see stats on our smart contracts adoption (daily users, growth, etc.).
And also vfat tools, which will help us attract more liquidity for our GFARM2/DAI LPs (and later the DAI vault).
5. Open DAI staking in the vault to everybody
About 1/10 of the LP rewards will go to the DAI vault, and everyone will be able to stake in it given that he locks his deposit for 30+ days.
This will allow the vault to grow proportionally to the trading volume, supporting the GFARM2/DAI liquidity if a lot of winning trades are closed at the same time.
It will make the protocol a lot more robust, and will extend our suite of products.
The current APR from leveraged trading fees alone is 80%+ with about $2m liquidity. If we aim for $1m in the DAI vault and give 1/10 of the LP rewards to the vault, the estimated APR on DAI should be 16%+ at current volume levels.
6. Stats dashboard
Having a historical stats dashboard will be excellent to measure the GFARM2 burn/mint over time and also measure the platform growth.
The stats listed will include the daily trading volume, fees generated by the protocol, GFARM2 mint/burn, etc.
This way everyone will be able to measure and compare the adoption/growth of our platform.
7. List BTC and ETH pairs for all cryptocurrencies
We currently only offer “Crypto/USD” pairs.
This would nearly triple the number of cryptocurrency pairs we offer for trading without any significant efforts apart from listing them in the aggregator contract.
This will truly demonstrate the power of our architecture.
Our biggest strength we have is that we can list any combination of pair / new pair and leverage the existing liquidity from the GFARM2/DAI pool which is used accross all pairs.
8. Explore potential cross pairs between cryptocurrencies and forex
Want to trade BTC/JPY? or LINK/NZD? Any combination of existing pairs should be possible to list without any difficulty.
We should be able to expand our number of trading pairs significantly once again with this approach, giving more and more options to traders.
It also means we can have markets that simply don’t exist on other trading platforms because they can’t have enough liquidity.
We can combine any two pairs that have enough liquidity on other exchanges, creating a third pair leveraging both pairs’ existing liquidity and our own GFARM2/DAI LPs.
9. List more cryptocurrency and forex pairs
We will work with Chainlink to list more cryptocurrencies and forex pairs, and also list relevant pairs that already have a chainlink feed but are not tradeable on our platform yet.
10. Explore new markets: commodities, stocks, and indices.
We already have cryptocurrencies and forex. But we won’t stop here!
We’ll start exploring APIs for commodities (gold, silver, brent, wti, natural gas) and stocks (GOOG, AAPL, TSLA, AMZN, MSFT, FB).
Indices like the S&P 500, the Nasdaq, and the Dow Jones should be next.
11. Move website to gains.trade, rebrand, 1:1000 token split
We recently purchased the domain name “gains.trade” with the intent of moving the existing website (gains.farm) to it.
The “farm” part of our name misleads a lot of new users, making them think we are simply another inflationary farm without any use case, while the opposite cannot be more true.
That’s why we will also rebrand our protocol name and migrate to a new token ticker (allowing a 1:1000 swap from the current GFARM2 token to the new token).
The community strongly supports these changes.
12. Social aspect of the front-end
We want traders to feel at home on our website, and to be able to communicate with other traders. We want them to feel the community aspect of our platform.
This is why we will add a chat and probably many other social features on the website. Possibilities are endless.
13. Last trading contracts update
There will be one last trading update before the trading contracts are finalized.
We want to support adding to a trade with the same leverage (move entry price accordingly), adding to a position to reduce leverage, partial closing, and removing from an open trade to increase leverage.
Finally, we also want to support guaranteed stop losses and take profits, and also optimize for gas fees.
Note: trading updates will be a lot smoother from now since the trades are all stored in a separate storage contract made for this purpose. This allows us to update every other contract without traders having to close and reopen their trades on the new contracts.
14. Expand the ecosystem to another chain
We are continously researching the next blockchain trends, to find where the adoption can come next, and also where the best place to host our trading platform will be.
Polygon is currently ideal to host the trading platform, but we want to consider expanding to other chains to increase our reach into other communities, and also for potential technical improvements.
There are many parameters we are looking for (decentralization, security, adoption, oracles support, low tx fees, near-instant finality).
Will it be a ZK rollup, or Solana for example? We will keep you updated on our research.