Gains Network Joins Fluidity Money’s Atlantean EmbassyExternal - Press Release
By: Chainwire • Loading...External PR
Adelaide, Australia, 17th March, 2023, Chainwire
Fluidity Money, a spend-to-earn decentralized finance (DeFi) protocol, has partnered with Gains Network, a platform that offers gTrade, an advanced, user-friendly decentralized leveraged trading experience.
About the partnership
The collaboration between Fluidity Money and Gains Network aims to enhance gTrade’s leveraged trading capabilities by integrating Fluidity’s innovative yield-generating mechanism through the integration of fDAI and the creation of an fDAI vault. This partnership will bring greater opportunities for traders on the gTrade platform while also expanding the adoption of Fluidity Money’s fDAI.
For example, traders on gTrade may soon have the option to use fDAI for their leveraged positions, enhancing their return strategy and thus increasing their trading experience. The vault will allow users to deposit fDAI, which will offer unique trading strategies. As the partnership develops, it could lead to additional features and benefits for users of both platforms, such as improved rewards and incentives.
“Fluidity Money’s unique approach to generating yield through transactions aligns perfectly with our vision for gTrade, creating an even more appealing platform for decentralized leveraged trading,” said Lunaman, Business Development at Gains Network.
“By partnering with Gains Network and integrating fDAI into their gTrade platform, we’re excited to bring more value to users while expanding the adoption of our Fluid Assets,” commented Shahmeer Chaudhry, CEO at Fluidity Money.
Membership of the Atlantean Embassy will see the Fluid Switch on the fDAI vault activated, once it has been released. As a result, this means that any fDAI deposits will be potentially yield bearing for Gains Network.
How it works
Fluidity Money’s wrapped stablecoins, or Fluid Assets, can be obtained by depositing stablecoins like DAI, USDC and USDT into Fluidity’s WebApp. These Fluid Assets maintain a 1:1 peg to traditional the underlying asset and can be traded just like any other ERC-20 token, enabling nearly all on-chain value transfers to be incentivized. Yield can only be generated through transactions, meaning users can only earn rewards when they spend their digital assets.
The Atlantean Embassy
The Atlantean Embassy, a collaborative initiative by Fluidity Money, will bring together innovative DeFi projects like Gains Network to foster growth, collaboration, and expansion within the ecosystem. By joining the Atlantean Embassy, Gains Network will see the Fluid Switch activated, which will see fDAI not only reward their users but also fill their Treasury. Whenever a deposit is made on the fDAI vault, 80% will go to the user depositing, while
Joining the Atlantean Embassy will benefit Gains Network by providing novel revenue streams, and unique partnerships endeavors. As member of the Atlantean Embassy, Gains Network will be able to tap into Fluidity Money’s unique yield-generating mechanism through the integration of fDAI and the creation of an fDAI vault.
About Gains Network
Gains Network is developing gTrade, a liquidity-efficient, powerful, and user-friendly decentralized leveraged trading platform. The platform offers a wide range of leverages and pairs, up to 150x on cryptos, 1000x on forex, 50x on stocks, and 35x on indices. Gains Network revolves around the ecosystem’s ERC20 utility token (GNS) and ERC721 utility token (NFTs), designed for active use within the platform and to allow ownership of the protocol through revenue capture and governance.
About Fluidity Money
Fluidity Money is a DeFi protocol that allows users to wrap stablecoins in return for Fluid Assets. The stablecoins deposited are lent out on money markets like AAVE and Compound, and the yield generated is collected in a reward pool. Whenever a user transacts a Fluid Asset, they can earn yield from this pool. The yield is dynamic and depends on chain variables, with a higher TVL resulting in more yield.
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