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Gains offers $USDC, $DAI, $WETH, and $USDm for trading, enhancing flexibility and user choice. (Please note that not all collaterals are available on every chain.)

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Collateral availability by chain

ChainCollaterals
Arbitrum$USDC, $DAI, $WETH
Polygon$USDC, $DAI, $WETH
Base$USDC, $BtcUSD
MegaETH$USDm
Gains Solana (sol.gains.trade) is a separate deployment — see Gains Solana. Each collateral is backed by its own gToken vault — the up-to-date list of vault contracts per chain is on Contract Addresses.

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Key Features:

  1. Synthetic Trading Flexibility: Gains follows a synthetic trading architecture, allowing traders to trade using $USDC, $DAI, or $WETH as collateral. This innovative approach means you’re not buying or selling the underlying assets directly but are instead trading on their price movements.
  2. Fees in Collateral: Trading fees are paid in the collateral used, streamlining transactions and aligning with your trading strategy.
  3. Risk Management: Gains manages risk at a collateral level, as each is backed by its own gToken vault and separate liquidity. Meaning that if $USDC open interest were to be maxed out, this would not affect the open interest for other collaterals.
  4. Collateral-based Position Sizing: Position size is determined in the collateral type, not the traded asset nor its notional value. This approach simplifies liquidation risk management by keeping the position size constant, independent of collateral price movements, making trading strategies clearer and more predictable (more details on the next page).

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Advantages:

Our model eases liquidation risk management. Unlike traditional exchanges where a position’s leverage and liquidation risk fluctuate with collateral price changes, our stable model allows for better strategy planning and a stress-reduced trading experience. By offering diverse collateral options and simplifying fees and risk management, we aim to improve the trading experience, empowering traders with control and flexibility in their strategies.

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Maximum available interest (max OI)

The max OI is a separate value for each vault. It is calculated as follows: maxOi = (vaultExposure * vaultTvl / avgDailyAtr^atrExponent * atrMultiplier) * oiFactor / correlation * logPairCount where:
  • vaultExposure = adjustable constant
  • vaultTvl = tvl + 5 * overCollat + .15 * (gnsMarketCap * (tvl + 5 * overCollat) / (allVaultTvls + 5 * allVaultOverCollats))
  • avgDailyAtr = computed from past 5 day candles
  • atrExponent = adjustable constant
  • atrMultiplier = adjustable constant
  • oiFactor = [0,1] - a throttle on OI based on group or pair
  • correlation = [0,1] - avg correlation of pairs in group, or just 1 if pair
  • logPairCount = numPairsInGroup^.25