- The earnings network has recorded a sharp rise in trading fees.
- The protocol’s native token is up 7% at press time.
earnings network [GNS], a permanent decentralized exchange, has made rapid progress in the DeFi ecosystem. according to Mail By Wu Blockchain on January 24, Gains Network reached a cumulative transaction volume of more than $1 billion last week, registering a jump of nearly 78%.
Gains Network, a GMX-like derivative protocol based on Polygon and Arbitrum, had more than $1 billion in transaction volume last week, with a fee of $690,000, and a GNS token once topped $4.7, both of which reached record highs. https://t.co/YL41pMsjFg
WuBlockchain January 24, 2023
The sharp increase in trading fees, supporting data was also highlighted by the on-series analyst “Patrick |” DeFi’s dynamo is on Twitter. Patrick posted an excerpt from the Token Terminal to show that the fees paid by traders on the Gains Network have surpassed their previous peak in March 2022.
Gains Network is having its best grossing week ever, surpassing its previous peak last March. pic.twitter.com/CsBmXfQArA
– Patrick | Dynamo Davy (@Dynamo_Patrick) January 23, 2023
What is the value of 1,10,100 GNS today?
Quick “wins” are seen
Earnings grid, built on a polygon [MATIC] and Arbitrum, which launches in 2021. An immortality-focused protocol similar to dYdx and GMX, GNS registered an increase in most of its metrics.
to me token terminal, the number of daily active users has tripled since the beginning of 2023. Earnings of GNS token holders have skyrocketed in recent days. Notably, the value was $119,000 on January 18.
Still very much David vs. Goliath, GNS worked rest time In the list of top 10 decentralized exchanges (DEX). As explained above, a lot of that was driven by increased trading fees. In fact, the network has seen the highest growth in trading fees in the past seven days.
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The total money locked into the protocol’s smart contracts has jumped to ATH, according to data from DeFiLlama. The chart showed an almost vertical rise in TVL over the past week. This added more evidence of the rising status of GNS in the DeFi ecosystem.
Is your wallet green? Check out the GNS Earnings Calculator
The lure of higher trading fees and increased revenue could drive demand for the GNS native token. At the time of writing, GNS was change price at $4.71, a jump of about 7% from the day before each. CoinMarketCap.
The token has expanded by almost 50% in a week, which indicates that the price has responded to the growth of the indices over the same time period.