Project and Team
Description of Project
A narrative description of the purpose of the project and its operation in layman's terms is provided.
gTrade is a decentralized leveraged trading platform offering crypto, forex, and commodities with up to 500x leverage on crypto, 250x on commodities, and 1000x leverage on forex. It is built on highly capital-efficient synthetic liquidity.
Disclosure of Revenue Streams
A narrative description of the Project's primary sources of revenue is provided, broken out by entity (e.g. Foundation, Labs, DAOs, or other).
Gains Network generates revenue from trading fees on gTrade, its decentralized leveraged trading platform. The fees are distributed as follows:
- Governance (DAO): 22% for protocol operations and incentives,
- Vault (Liquidity Providers): 15% for underwriting trades,
- GNS Burn Mechanism: 54% to support token utility,
- Referrals: 5%, and
- Trigger Keepers: 4%. This setup ensures fees are shared across core ecosystem participants.
Equity-Token Relationship
The Project must clearly disclose the rights, value accrual mechanisms, and distinctions between token holders and DevCo equity holders. Any value allocated specifically to equity holders (e.g., dividends, profit-sharing) must be communicated separately from value accruing to token holders.
Gains Network does not have equity holders. The project is governed by the Gains Network DAO Foundation, a Panama-registered private interest foundation that does not issue shares or distribute dividends.
- All value accrual is centered on the GNS token, which provides:
- Fee sharing for stakers
- Governance rights
- Protocol utility There are no profit-sharing mechanisms for Foundation Council members or any separate equity structure. All value flows are transparently managed through the token and on-chain governance.
Disclosure of Advisory Billings to the Foundation
If core team members are compensated by any Tokens allocated to the Foundation through advisory services or similar agreements, or by any other payment method (i.e. fiat), these payments must be disclosed. Note, foundation team members known and exclusively compensated by the Foundation are excluded.
No tokens were allocated to the Foundation. However, the Foundation’s operational costs, including advisory retainers, service providers, and contributor compensation, are funded through protocol revenue, not token grants. Specifically, 22% of trading fees from gTrade are directed to the DAO Treasury to support protocol operations. Payments may be made in fiat and are governed by the foundation. No additional GNS tokens are issued for these expenses. -Tokenomics Update - Buyback & Distribute: This post introduces Gains Network’s Buyback &Distribute (BB&D) system, a major upgrade to tokenomics that uses protocol trading fees to buy back GNS on the open market. Bought-back tokens are then partially burned to reduce supply, while the remainder is distributed to fund contributors, operations, and governance—aligning protocol growth with GNS value accrual. -GitBook - Revenue Distribution: This page outlines the breakdown of trading fees on gTrade, detailing how revenue is split among different stakeholders in the ecosystem. It explains that 22% of all trading fees are allocated to the governance fund (DAO Treasury) to support operations. In contrast, the remaining funds are distributed across GNS burning, vault incentives, referrals, and trigger keepers, ensuring aligned incentives and sustainable protocol growth.
Known Project Team
The identities of key team members (e.g., founders, CEO, CTO, COO of Labs, President of Foundation, etc.) are publicly disclosed.
- Seb - Founder (Smart contract dev, Strategy)https://x.com/SebGNS_
- Nathan (Full-stack dev, Management)https://x.com/thebuidler
- Crumbs (Smart contract dev)https://x.com/0xCrumbs
- Atlas (Product Manager)https://x.com/AtlasIsMe
- Dreamersnat (Frontend dev)https://x.com/dreamersnat
- Konrad (Frontend dev)
- Pulkit (Smart contract dev)
- Tony (Frontend dev)
- Sam (Biz Dev, Partnerships)
- Vesnushki (Marketing, Graphics, Creative direction, Community)https://x.com/vesnushkiii
- Rick (Biz Dev, Partnerships)https://x.com/Rex2049_
- Brian (Marketing, Community)https://x.com/Lothaen
- Joseph (Marketing, Project Management)https://x.com/clJoseph_
Token Supply and Allocation
Governance & Token Documentation Provided
The Project must provide publicly accessible documentation covering the Token's governance rights, rights to value accrual, any additional utility, and the mechanism by which token governance is implemented (e.g. an insider multi-sig).
Governance rights: Protocol Governance and Snapshot Voting Value accrual: How Buyback & Burn (BB&B) Works Dune Dashboard: GNS Burn Implementation: Contract Addresses
Initial Allocation
Disclosed information explaining the launch and initial supply that includes: the total number of tokens issued, the category of the recipient (team, investor, foundation, community), the total supply of the token and if it is capped, and the initial vesting schedule.
GNS was farmed into existence with no traditional token sale. The initial supply was distributed across two main pools: One pool rewarded LP token staking. The other rewarded ETH staking. There was also a small allocation (approximately 5%) set aside for development or governance purposes, though this requires confirmation. The total token supply is capped, and emissions followed a fair-launch model. More context and details can be found in the original launch post: Gains Farm v2 Ecosystem Launch
Vesting Insider Tokens
All Insider Token allocations (team, investor, foundation) must be transparent, per the disclosed Initial Allocation. If vesting occurs at a custodian, clearly disclose the employee categories and associated vesting schedules clearly in your documentation.
There are no current post-TGE insider token allocations or token-based compensation plans in place for team members, advisors, or Foundation employees. All GNS tokens were initially distributed via a fair farming mechanism, with:
- 90% farmed through staking (ETH or LP tokens)
- 5% allocated to a governance fund
- 5% allocated to a development fund The total farmed supply was 38,892 GFARM2, equivalent to 38.892M GNS. No ongoing insider vesting schedules or token grants exist at this time. In the past, small GNS allocations were distributed to contributors via vesting schedules funded through protocol revenue (i.e., tokens bought back on the open market). While no such programs are currently active, the Foundation reserves the right to implement similar contributor compensation plans in the future, subject to DAO oversight and available revenue. Initial distribution details can be found here: DYOR: Gains. Farm v2 ecosystem
Labelled Unissued Token Wallets
Addresses that hold any Unissued Tokens (e.g. foundation, future contributors, treasury) must be publicly labelled (address listed in docs) and be held in distinct wallets. This includes the foundation allocation. The party (e.g. team, foundation, DAO) that controls the funds must also be disclosed.
Not applicable - 100% of GNS tokens are already issued. There are no unissued or reserved token allocations held in treasury, foundation, or contributor wallets.
Airdrop Process
The project must disclose all airdrop eligibility criteria clearly and provide a full CSV list of recipients, including addresses and amount received.
Not applicable - Gains Network has never conducted an airdrop. No tokens have been distributed via an airdrop mechanism.
Locked Staking Reward to Insiders
Disclose information on insiders (Team, Investors, Foundation, Advisors) tokens that are locked and can earn rewards.
Not applicable - there are no locked tokens earning staking rewards for insiders (Team, Investors, Foundation, or Advisors) on Gains Network.
Future Token Issuance
The project commits that any future token issuance (e.g., minting or emissions outside scheduled vesting) will be publicly disclosed and justified on an official platform (e.g., governance forum, blog, or docs).
Not applicable - all future token issuance is transparently handled through the on-chain mint and burn system, as detailed in the official documentation: Mint &Burn System – Gains Docs. No additional token emissions outside this mechanism are plannedor possible without governance. Mint & Burn Mechanism: Within Gains Network’s gToken Vaults (e.g., gDAI vault), token supply is dynamically managed via an on‑chain mint and burn system tied to vault collateralization:
- Over‑collateralized Vaults (>100%): A portion of trading losses is used to buy back GNS OTC at a 1‑hour TWAP price and then burned, creating deflationary pressure and limiting supply.
- Under‑collateralized Vaults (<100%): GNS is minted and sold OTC to raise capital for the vault, capped at 0.05% of total supply per day (~18.25% annually), preventing uncontrolled inflation.
- All mint/burn events are triggered only by user interactions with the vault, ensuring decentralization (no fixed schedule or automated bot).
Future & Related Token Launches
The team discloses all tokens launched by its key team members in the past and explicitly lays out its philosophy around launching new tokens, related to the project or otherwise. (e.g. "We do not plan to launch additional tokens" or "Any additional tokens will be given 1:1 to existing token holders who can then vote on proposals submitted by the management team.")
The team has publicly stated that GNS is the only token and that there are no plans to launch additional tokens. Gains Network follows a single-token model where GNS captures all value and governance rights within the protocol. Relevant statements have been shared on the official X account: -What is $GNS? -Tokenomics v9.1: ‘Buyback & Distribute’ (BB&D) Upgrade
Transactions & Market Structure
Insider & Related Person Transactions
The project commits to disclosing any material Related Party & Insider Transaction within 30 days and includes: The nature of the transaction, the Related Person, the basis on which the person is a Related Person, and the number of tokens involved in the transaction. This includes tokens issued by the foundation.
Gains Network commits to disclosing any material related party or insider transactions within 30 days.
Prior Token Sales & Fundraising
Disclosed information of previous fundraising rounds, material OTC rounds to investors, or discounted market maker sales involving the Project and its Token that includes: the date of sale, number of tokens sold, and the vesting schedule of these tokens. The Project commits to disclosing any material OTC deal involving token sales and purchases by the foundation within 30 days.
Gains Network has not conducted any prior fundraising rounds, OTC token sales, or discounted token allocations to investors or market makers. No tokens have been sold by the team or the Foundation.
Transparent Market Maker Deals & Exchange Listings
Projects must disclose key details of market making and centralized exchange agreements affecting token liquidity, including: names of all market makers & centralized exchanges involved, the token allocation for each (as % of total supply), and the duration of each agreement.
Gains Network has a retainer agreement with Reform DAO, under which Reform provides market-making services for a fee of $4,000 per month. Gains Network DAO Foundation supplies the trading inventory. No token incentives or allocations were granted as part of this agreement. The duration of the agreement is for 1 year and is cancellable by either party. No CEX agreements are made.
Financial Disclosure
Disclosure of Assets and Cash Flow
The Project commits to providing updates to token holders on a quarterly basis via forum posts, live dashboards, or reports that cover core project KPIs, changes to Token supply or allocations, and disclosure of top line revenue and expenses. The Project may engage third-party contractors to prepare and deliver these updates.
Dune Dashboard DeFiLlama Quarterly Report: Q1 2024 Q4 2023 Bi-Weekly Updates: *** #40 (July 27,2025) #39 (July 13, 2025) #38 (June 29, 2025) #37 (June 16, 2025) Gains commits to disclosing token holder relations reports every quarter, including updates on key protocol metrics, token supply and allocation changes, and top-line revenue and expenses. These updates are shared through live dashboards, governance discussions, and public posts - we'll work with our accounting partners to share relevant information.
Public Token Holder Relations Reports
The foundation's assets or working capital are held onchain and publicly labelled, providing the ability to track asset holdings, revenue, and expenses. Or, the foundation publishes a quarterly, publicly available financial report of its assets, working capital, revenue and expenses.
Gains Network's assets and working capital are held onchain and publicly labeled. DAO Treasury: https://debank.com/official/Gains_Network Vault Revenue Flows: https://gains.trade/vaults Buybacks & GNS Burn Mechanism: https://gains-network.gitbook.io/docs-home/tokenomics/tokenomics-v9.1-buyback-and-distribute Protocol Fee Distribution: https://gains-network.gitbook.io/docs-home/tokenomics/fees-distribution GNS Token Mint & Burn System: https://gains-network.gitbook.io/docs-home/liquidity-farming-pools/gtoken-vaults While Gains Network does not currently publish formal quarterly financial reports, core protocol revenue and treasury movements are transparently viewable on-chain.
This Token Transparency Filing is provided for general informational purposes only. Blockworks reviews completeness only and does not verify or warrant the accuracy of individual answers. Gains Network is solely responsible for the content, accuracy, and legality of its disclosures.