Trading
Collateral — The token you put up to open a trade. Gains is synthetic, so you trade price movements without holding the underlying asset. Supported collaterals depend on the chain — see Trade Collaterals. Leverage — A multiplier on your collateral that increases both your exposure and your risk. Max leverage varies per pair — see the Pair List. Position size — Your collateral multiplied by your leverage. On Gains, position size is denominated in the collateral, not the traded asset’s notional value. Spread — The difference between the price you open/close at and the market price. For BTC and ETH it’s 0%; for other assets it’s dynamic. See Fees & Spread. Dynamic spread — An additional, size- and skew-dependent cost applied on top of the fixed spread, designed to keep open interest balanced. See Fees & Spread. Borrowing fees — A fee charged over time for holding a leveraged position, based on open interest. See Calculating borrowing fees. Funding fees — Introduced in v10, a fee that flows between the long and short side of a pair based on the skew, charged on the dynamic position size. Liquidation — The forced closing of a position when losses reach the liquidation threshold. The remaining collateral goes to the vault. See Fees & Spread. Liquidation price — The price at which a position would be liquidated. See Calculating liquidation price. OI (Open Interest) — The total value of open positions, tracked per pair and per collateral. Each pair and vault has a max OI to cap risk. Mark price — The price used for trade execution: TP/SL, limit orders, stop orders, and PnL. Index price — The spot price, unaffected by derivatives skew. Used for liquidations. See the Mark + Index introduction. 1CT (One-Click Trading) — A mode that removes the need to confirm every transaction in your wallet. See One-Click Trading.Tokens & vaults
$GNS — The ecosystem’s utility token. Powers fee discounts, acts as a vault backstop, and captures protocol revenue. See GNS Token. **GNS with a 1:1000 split. Now legacy — see archived NFTs. gToken / gToken vault — The collateral vaults (e.g. gUSDC, gDAI, gETH) that act as the counterparty to traders and supply trading liquidity. Depositing collateral mints the corresponding gToken. See gToken Vaults. Overcollateralization — An extra buffer layer in a vault that helps absorb trader profits and keep the vault solvent. See gToken Vaults. BB&B (Buyback & Burn) — A model where protocol revenue buys $GNS from the market and burns it, reducing supply. See GNS Staking. BB&D (Buyback & Distribute) — A model where bought-back $GNS is distributed to stakers rather than burned. SSS (Single Sided Staking) — Direct revenue-sharing where stakers earn a cut of protocol fees in their staked token.Infrastructure
TWAP (Time-Weighted Average Price) — An average price over a time window, used for OTC buybacks and for governance price thresholds. DON (Decentralized Oracle Network) — The Chainlink oracle network that returns prices used to execute trades. RPC — The gateway between your wallet and a blockchain. Switching to a faster RPC can help during congestion — see Chain congestion. pairIndex — The numerical ID of a pair in the contracts, reflecting the order assets were added. See the Pair List. Diamond / facet — Gains’ contracts use the Diamond pattern: a single entry point (GNSMultiCollatDiamond) that routes calls to modular logic contracts called facets. See the Technical Reference.