The DeFi platform mentioned in the article is Gains Network ($GNS). It uses a GMX-style trading system where users trade against a pooled DAI and utilizes Chainlink oracles to determine asset prices.
Based on the platform stats dashboard (https://dune.com/gains/gtrade_stats), the daily volume for its forex pairs is impressive, averaging around $30M. What caught my attention is that the forex pairs generate almost as much volume as their crypto pairs. The commodity pairs still lagging behind though, typically registering daily volumes in the single-digit millions. But still, the fact that there's a functional platform in the DeFi space to trade forex with such significant daily volume is remarkable. Especially considering that we're still in a bear market.
Topic: Traditional Finance markets trading on DeFi (Read 63 times)
Traditional finance is the same with the defi on crypto in a sense that it is on web3 and no party has control of what you are feeding on the platform or what we called protocol. Unlike trads that has a central system where they are the one handle and manage the finance interest, capital and many more while on defi you need experience to navigate such platform and manage your own fund but basically its the same.
Hi everyone,
This is an interesting article pointing out the budding interest from traditional finance in trading FX and other financial instruments using DeFi rails - https://www.coinfeeds.io/daily/traditional-finance-on-defi-rails
This is a pretty interesting development, do you think it has legs?
This is an interesting article pointing out the budding interest from traditional finance in trading FX and other financial instruments using DeFi rails - https://www.coinfeeds.io/daily/traditional-finance-on-defi-rails
This is a pretty interesting development, do you think it has legs?
The interest for Defi has been there from traditional markets for a while. Ive heard about quite a few chains that were looked at by several companies. Blockchain tech fits markets well, especially as a distribution layer.
As for that article being interesting, i would hardly call that thing an article.
Hi everyone,
This is an interesting article pointing out the budding interest from traditional finance in trading FX and other financial instruments using DeFi rails - https://www.coinfeeds.io/daily/traditional-finance-on-defi-rails
This is a pretty interesting development, do you think it has legs?
This is an interesting article pointing out the budding interest from traditional finance in trading FX and other financial instruments using DeFi rails - https://www.coinfeeds.io/daily/traditional-finance-on-defi-rails
This is a pretty interesting development, do you think it has legs?
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