The Gains Network, with a Total Value Locked (TVL) of $20.29 million, has been a significant player in the DeFi space since its launch in May 2023, boasting a staggering $25 billion in derivatives trading volume. However, a report from Zellic dated April 19 revealed a critical vulnerability within one of its protocol forks, enabling attackers to exploit the system effortlessly.

Two critical bugs discovered in a fork of the Gains Network leveraged trading protocol could have allowed traders to profit 900% on every trade

An attacker could have placed a limit buy order with an arbitrarily high open price to automatically win every trade, the Zellic security platform discovered.

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Gains Network, initially released on Polygon and later on Arbitrum, allows users to trade financial derivatives of cryptocurrencies, foreign exchange and commodities by matching buy-sell orders using smart contracts.

Crypto tracking account @lookonchain has spotted a "Smart Money" wallet that made a healthy profit on their GMX and GNX coins within less than an hour.

Adelaide, Australia, March 17, 2023 – Fluidity Money, a spend-to-earn decentralized finance (DeFi) protocol, has partnered with Gains Network, a platform that offers gTrade, an advanced, user-friendly decentralized leveraged trading experience.

Gains Network, a liquidity-efficient, powerful, and user-friendly decentralized leveraged trading platform, has teamed up with Fluidity Money, a spend-to-earn decentralized finance (DeFi) protocol that allows users to wrap stablecoins in return for Fluid Assets.

The Open Interest (OI) for Gains Network [GNS] reached its all-time high of 57 million at the time of writing. The OI rose over the past four months for all asset classes.

DeFi ecosystem Arbitrum, a Layer 2 scaling solution for Ethereum (CRYPTO: ETH), has now become the fourth-largest decentralized finance, with over $2 billion of total value locked (TVL). While decentralized perpetual exchange GMX (CRYPTO: GMX) leads the ecosystem, a rising star has been capturing attention in the form of Gains Network (CRYPTO: GNS).

Trading volumes on Gains Network deployed on Arbitrum reached $230 million in the past 24 hours alone, data shows.