Gains Network vs GMX

    Question:

    Since June GNS has gone from $0.68 to $3.68 and GMX has gone from $13.70 to $41.56 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?

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    Definitions:

    What is GMX?

    GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. Trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, leverage trading (spreads, funding fees & liquidations) and asset rebalancing.

    What is GNS?

    Gains Network (GNS) is a decentralized trading platform where the users can trade cryptos and forex with leverage. Leverage refers to utilizing borrowed capital to trade cryptocurrencies or other financial assets.

    Methodology:

    Within this dashboard I am going to be looking at daily active users over time and see how they have changed and continue to change on GMX and GNS. Then I am going to look at what these users have been doing swapping,. I will also being looking at what coins are most popular amongst these users. Finally I will discuss these metrics in detail and provide any conclusions or insights I find valuable for the reader.

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    GMX Activity Analysis:

    1. There has been a large growth of activity of GMX in terms of users, trades and volume since May 2022.
    2. Since May there has been 1.19 Billion in GMX trades from 43K users on Arbitrum.
    3. The two most popular tokes on GMX are USDC and WETH.
    4. Since the start of September there has been around 5,000 weekly GMX users.
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    GNS Activity Analysis:

    1. There has been marginal growth of activity of GNS in terms of users, trades and volume since March 2022.
    2. Since May there has been 246 million in GNS trades from 4.8K users on Polygon.
    3. Since the start of September there has been around 3,000 - 7,000 weekly GNS users.
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    Polygon vs. Arbitrum Activity Analysis:

    1. Polygon has more than 10 times the number of users than Arbitrum.
    2. Since the start of 2022 the number of transactions on Polygon has been declining.
    3. In terms of users contracts and transaction Arbitrum has been growing rapidly since the start of the year.

    Conclusion:

    1. There has been a large growth of activity of GMX in terms of users, trades and volume since May 2022.
    2. Since May there has been 1.19 Billion in GMX trades from 43K users on Arbitrum.
    3. The two most popular tokes on GMX are USDC and WETH.
    4. Since the start of September there has been around 5,000 weekly GMX users.
    5. There has been marginal growth of activity of GNS in terms of users, trades and volume since March 2022.
    6. Since May there has been 246 million in GNS trades from 4.8K users on Polygon.
    7. Since the start of September there has been around 3,000 - 7,000 weekly GNS users.
    8. GNS may want to move to Arbitrum due to a massive increase in the activity of the chain.