Introduction

What Is GAINS Network?

Gains Network is the company behind gTrade, a leveraged trading platform built on Polygon (and soon on Arbitrum). \n Gains offers a wide variety of tradable assets. Beyond major cryptocurrencies, the platform also supports large-cap U.S. stocks, including popular tech names like AMZN, AAPL, AMD, among others. The platform also supports trading of major currency pairs. The platform supports 150x leverage on Crypto and Stocks and up to 1000x leverage for Forex.

What Is GMX? GMX (GMX) is a decentralized spot- and perpetual-trading crypto exchange whose users can benefit from its low swap fees and zero price impact trades through leverage trading and market making. GMX uses Chainlink oracles to source dynamic pricing info from a variety of exchanges.

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

\n

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 we will see:

We check median transaction volume, transaction frequency, user frequency, transaction volume, average volume

Section:

• Overall Metrics
• GMX vs Gains Over Time

In this case, we have used the following tables:

ethereum.core.fact_hourly_token_prices

arbitrum.core.fact_event_logs

polygon.core.fact_event_logs

Overall Metrics

Observations

• We see the dominance of GMX on the profit network in terms of user frequency and transaction volume
• GMX transaction volume is about $1.2 billion (83 percent) → profit network transaction volume is over $246 million (17 percent).
• GMX Transaction frequency 343 thousand (64.8 %)→ Gains network transaction frequency 186 thousand(35.2 %)
• User frequency around GMX 60 thousand users (86.6 %) → User frequency around Gains Network gets 10 thousand users (13.4 %)

GMX vs Gains Over Time

Observations

• We see GMX dominating Gains network frequency.

• The highest figure for GMX in September of this year is about 77 thousand --> the highest figure for Gains Network in April is about 25 thousand

• We have seen increasing frequency for GMX while Gains Network has had an ups and downs trend.

• We see GMX dominating the Gains network volume in terms of trading volume

• The highest figure for GMX in September of this year is about 350 million → the highest figure for Gains network in April is about 48 million.

• We have seen increasing volume for GMX while the Gains network has trended up and down.

• We see GMX user frequency dominating Gains network frequency

• The highest price of GMX in June of this year is about 17 thousand → the highest figure for Gains network in October is about 1.4 thousand.

• We have seen a decreasing frequency for GMX while the Gains network has been trending up and down.

• We can see that the GMX transaction volume dominates the average volume of the Gains network

• The highest figure for GMX in May of this year is about 6.6 thousand → the highest figure for Gains network is about 2.2 thousand in April.

• We have seen average volume decline for GMX while the Gains network has trended up and down.

• We can see that the volume of GMX transactions dominates the average volume of the Gains network

• The highest price for GMX in April this year is around 500 → the highest price for Gains network is around 150 thousand in August.

• We have seen volume decrease for GMX while the Gains network has trended up and down.

Conclusion

Overall Metrics

• We see the dominance of GMX on the profit network in terms of user frequency and transaction volume
• GMX transaction volume is about $1.2 billion (83 percent) → profit network transaction volume is over $246 million (17 percent).
• GMX Transaction frequency 343 thousand (64.8 %)→ Gains network transaction frequency 186 thousand(35.2 %)
• User frequency around GMX 60 thousand users (86.6 %) → User frequency around Gains Network gets 10 thousand users (13.4 %)

GMX vs Gains Over Time

• We see GMX dominating Gains network frequency.

• The highest figure for GMX in September of this year is about 77 thousand --> the highest figure for Gains Network in April is about 25 thousand

• We have seen increasing frequency for GMX while Gains Network has had an ups and downs trend.

• We see GMX dominating the Gains network volume in terms of trading volume

• The highest figure for GMX in September of this year is about 350 million → the highest figure for Gains network in April is about 48 million.

• We have seen increasing volume for GMX while the Gains network has trended up and down.

• We see GMX user frequency dominating Gains network frequency

• The highest price of GMX in June of this year is about 17 thousand → the highest figure for Gains network in October is about 1.4 thousand.

• We have seen a decreasing frequency for GMX while the Gains network has been trending up and down.

• We can see that the GMX transaction volume dominates the average volume of the Gains network

• The highest figure for GMX in May of this year is about 6.6 thousand → the highest figure for Gains network is about 2.2 thousand in April.

• We have seen average volume decline for GMX while the Gains network has trended up and down.

• We can see that the volume of GMX transactions dominates the average volume of the Gains network

• The highest price for GMX in April this year is around 500 → the highest price for Gains network is around 150 thousand in August.

• We have seen volume decrease for GMX while the Gains network has trended up and down.

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