In an update on X, formerly known as twitter, GainsNetwork has launched its Trade-to-Earn incentives program, creating a buzz in the crypto community.
Running from December 29, 2023, to March 29, 2024, the initiative will reward active participants in the gTrade ecosystem with $ARB tokens across various trade-to-earn categories. Of course, due to this collaboration between Arbitrum’s Short-Term Incentives Program (STIP) and Gains Network’s grant match, 4.5 million $ARB and 65,000 $GNS tokens are up for grabs. This will run for over the next 13 weeks to incentivize gTraders and enhance liquidity.
Trade to Earn is off to a flying start 🔥✈️
Rewards for the top 5 traders are already over ~65,000 $ARB… and it's only Epoch 1 of 13! pic.twitter.com/mQNJJmMkTn
— gTrade | Gains Network 🍏 (@GainsNetwork_io) January 2, 2024
85% Allocation Of 4.5M $ARB
Notably, the actual primary goal of the incentives program is to stimulate liquidity and also draw new users to Arbitrum. Recently approved, Gains Network’s proposal allocates 85% of the 4.5 million $ARB tokens to incentivize organic trading activities. Of course, this includes high-volume and diverse trading, positive PnL, and protocol loyalty. Also, the remaining 15%, along with the 65,000 $GNS tokens, is earmarked for liquidity incentives.
As expected, this strategic distribution will aim to reward established gTraders while simultaneously attracting new users. Thereby, fostering growth in both the gTrade and Arbitrum ecosystems.
$GNS Price Action To Watch
Consequently, in response to the team’s announcement, $GNS has experienced an impressive surge of over 20% in today’s trading. This is accompanied by a notable 281% increase in trading volume over the last 24 hours.
Finally, investors and participants in the crypto space are closely watching these developments as the Trade-to-Earn incentives program unfolds, contributing to the positive momentum of $GNS and the broader gTrade ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.