gDAI vaults
- This stablecoin does not have a price feed available at the moment and we are unable to display peg/depeg rates.
About Gains Network DAI
gDAI represents DAI deposited into the Gains Network (gTrade) vault on Arbitrum and Polygon. It earns yield from trading fees generated by the gTrade decentralised leverage trading platform. gDAI acts as the counterparty to traders on the platform.
Gains Network operates gTrade, a decentralised leveraged trading platform on Arbitrum (and previously Polygon). gDAI is the ERC-4626-compliant vault token representing DAI deposited into the platform's liquidity vault.
Mechanism
The gDAI vault acts as the direct counterparty to all trades on gTrade:
- When traders close winning positions, their profits are paid out of the vault
- When traders close losing positions, those losses flow into the vault
- In exchange, the vault receives a share of all trading fees generated by the platform
- If collateralisation falls below a threshold, the GNS token serves as a backstop
Epoch system
Because computing open profit/loss on-chain in real time is too expensive, the vault uses an epoch system. During each epoch, a network of oracles submits open PnL snapshots; the median is taken and averaged across request periods. Withdrawals are processed during designated withdrawal windows within each epoch.
Key properties
- ERC-4626 tokenised vault — gDAI shares are freely transferable and composable
- Yield is variable: positive when traders net-lose, negative when traders net-win
- No fixed APY; returns depend entirely on trader PnL on the platform
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