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    INTRODUCTION

    On this dashboard we will analyse two platforms: GMX (native to Arbitrum) and GNS (native to polygon, but announced will be launching on Arbitrum soon). Both platform native tokens (GMX - GNS) have seen meteoric price growth during a bear market. Since June GNS has gone from $0.68 to $3.68 and GMX has gone from $13.70 to $41.56

    Now we a going to observe Trading volume.

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    GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. Trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, leverage trading (spreads, funding fees & liquidations) and asset rebalancing.

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    Gains Network (GNS) is a decentralized trading platform where the users can trade cryptos and forex with leverage. Leverage refers to utilizing borrowed capital to trade cryptocurrencies or other financial assets.

    METHODOLOGY

    GMX

    • Source: arbitrum.core.fact_event_logs table (since 18 of April 2022) and for prices in USD - ethereum.core.fact_hourly_token_prices table
    • GMX Contract Address: 0x3d6ba331e3d9702c5e8a8d254e5d8a285f223aba,0xb87a436b93ffe9d75c5cfa7bacfff96430b09868
    • GMX Token Address: 0xfc5a1a6eb076a2c7ad06ed22c90d7e710e35ad0a
    • Tokens for traiding: USDC, USDT, WETH, WBTC, FRAI UNI , LINK , DAI

    GNS

    • Source: polygon.core.fact_event_logs table (since 14 of February)
    • GNS Contract Address = 0xd8d177efc926a18ee455da6f5f6a6cfcee5f8f58, 0x65187fec6ecc4774c1f632c7503466d5b4353db1,0xf8a140db8b05bec52c7e86d0d40d72f8e54fe559
    • GNS Token Address: 0xe5417af564e4bfda1c483642db72007871397896
    • Tokens for traiding: DAI
    • The median trading amount of GMX fluctuates a lot, and it can also be noted that it has dropped quite noticeably since September. The median price of trading GNS remains at about 100 USD

    • The number of tradings GNS is only about 0.115% of the total number on the Polygon, GMX - approximately 0.97% of the total number on the Arbitrum

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    First af all let’s compare information about GMX and about CNS on the Coinmarketcap.

    Market cap is the total market value of a cryptocurrency's circulating supply. Market Cap = Current Price x Circulating Supply. Market Cap GMX is aprox 327M USD, GNS - aprox 35,9M USD

    Circulating Supply is the amount of coins that are circulating in the market and are in public hands. It is analogous to the flowing shares in the stock market. Circulating Supply of GMX is aprox 8M, GNS - aprox 9,2M

    Volume is a measure of how much of a cryptocurrency was traded. Volume of GMX for 24-hours is aprox 10 times higther then GNS

    So, we can see, that the total supply of GNS is higher than GMX by almost 1 million, all other indicators are lower. From the general trend of both tokens, a significant increase in price can be noted since July

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    • On the chart of the number of trading, we can see an increase in the number of weekly GMX transactions, the number of GNS trading remained at about the same level since May, but begins to increase in recent weeks. We also see a spike in the GMX number of trading in July

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    • If we look at a graph that shows the number of transactions per traders of both tokens, we can see that the value of the GMX remains approximately at the same level. The total number of GNS trades is higher

    • For GMX we can also see higher rates of cumulative growth in the number of tradings, for GNS the growth rate is quite low and more even

    Main metrics

    Number of trades

    Unique traders

    Amount

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    • As for unique traders, the value of GNS is much lower then GMX. We can also note a high surge in the number of GMX traders at the end of June

    • The nature of the distribution of the top 100 traders for both tokens is approximately the same

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    So,

    why Gains Network wants to move into the Arbitrum ecosystem?

    Perhaps because Arbitrum is currently one of the most interesting L2s with a rich ecosystem of original products. The project has raised over $120 million from Uniswap, Chainlink, Polychain Capital, Coinbase, Alameda, Pantera, Mark Cuban and others. Also Arbitrum is more decentralized since it’s secured by Ethereum’s widely distributed network of miners (or stakers, once Ethereum staking goes live). Polygon is secured by MATIC staking, which is a smaller pool of capital versus the miners who are securing Ethereum.

    So, why not?