The Question

A war of the trading platforms? GMX (native to Arbitrum) - 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

Observe Trading volume. Has one platform absorbed more volume than the other? How impactful is GNS volume to polygon?

GMX volume to Arbitrum?

Are there any insights that can reveal why Gains Network wants to move into the Arbitrum ecosystem?

Methodology

In this dashboard, the two mentioned platforms have been examined in terms of the amount of capital attracted, the number of users and the number of transactions, in general, weekly and cumulative trends. Also, the share of transactions related to these platforms in their respective network in terms of percentage of the total has been reviewed and evaluated on a weekly and overall basis.

Introduction

GMX | Decentralized Perpetual Exchange

GMX is an on-chain decentralized perpetual and spot exchange trading platform on Arbitrum and Avalanche. Users can trade assets on-chain, without an account, KYC, geographic restrictions, or high centralized exchange fees. The GMX token is the native governance and value-accrual token of the GMX protocol.

The GMX token== is the native governance and value-accrual token of the GMX protocol.  1

Gains Network (GNS): A DeFi Leveraged Trading Platform:

Gains Network is a decentralized derivatives trading platform built first on the Polygon network and expanding to other decentralized networks. On gTrade, crypto derivative traders are allowed up to 150X leverage and up to 1000x for forex trades.

The GNS token== is the native token of the gTrade platform and the Gains Network ecosystem. The GNS token serves as a utility token, a store of value for the ecosystem, and could gain an extra role when Gains Network's decentralized government goes live. 2

Findings and Conclusion

• As it is clear from the results, GMX has managed to attract more users and naturally, it has attracted more capital than GNS. However, the number of transactions per user as well as the value of transactions per user were higher for GNS.
• As a result, it can be said that GNS users were more powerful than GMX users. But still, in general, GMX has been more successful. Also, GMX's share of all Arbitrum transactions has been above 5% on average (in some weeks it has even reached above 8%), which is a high number and indicates the popularity of this platform in this network. GNS participation in Polygon's transactions has been less than 0.4%, which is a smaller number than its competitor.
• So, GMX was more impactful to Arbitrum than GNS to Polygon.

==This is a Live Dahsboard . Refresh rate : Daily==

• A total of 513 k transactions were made by 43.7 k users worth $1.2 billion on the GMX platform on the Arbitrom network. While, in the same period of time, 187 k transactions were made by 4.9 k users worth $247 million on the GNS platform on the Polygon network.
• The number of transactions per user was 12.8 for GMX and 38.3 for GNS. The transaction value per user was $28k for GMX and $50k for GNS.
• The average transaction value was $1.5k for GMX and $1.3k for GNS.
• The average weekly trade value on GMX has been higher than GNS most of the time.
• Median weekly trade value in GMX has been lower than GNS most of the time.
• The GMX platform has been much more successful than GNS in attracting new users.