Gains Network (GNS) to be Listed on Binance Innovation Zone
Binance has announced that it will list Gains Network (GNS) on its Innovation Zone. According to a press release by the exchange, GNS will be available for spot trading with Bitcoin (BTC) and Tether (USDT) starting from 11:30 AM UTC on February 17, 2023.
#Binance will list @GainsNetwork_io $GNS in the Innovation Zone.
➡️ https://t.co/4ihgh7POzE pic.twitter.com/pwOZzgEwJO
— Binance (@binance) February 17, 2023
Gains Network is a decentralized leverage trading platform that allows users to trade a range of assets, including cryptocurrencies, forex, and stocks. The GNS token is used for utility and governance purposes on the platform.
Binance’s Innovation Zone: High Volatility Trading
The Innovation Zone is a dedicated trading zone on Binance, which is specifically designed for users to trade new and innovative tokens. These tokens are likely to have higher volatility and pose a higher risk than other tokens. Before trading in the Innovation Zone, users are required to read the Binance Terms of Use carefully and complete a questionnaire as part of the Initial Disclaimer.
GNS Deposits Open on Binance for Trading
Binance has not charged any listing fees for GNS, making it more accessible for users to trade. The exchange has also added GNS as a new borrowable asset with an isolated margin. The new margin pair available for GNS is GNS/USDT, which will be available within 48 hours of the trading start time.
Users can start depositing GNS on Binance in preparation for trading. Withdrawals for GNS will open at 11:30 AM UTC on February 18, 2023. It is important to note that the withdrawal open time is an estimated time for users’ reference, and users can view the actual status of withdrawals on the withdrawal page.
Cautions on Risks of GNS Trading
Binance has reminded users that GNS is a relatively new token that poses a higher-than-normal risk, and as such will likely be subject to high price volatility. The exchange has urged users to exercise sufficient risk management, conduct their own research on GNS’s fundamentals, and fully understand the project before trading the token.
Binance’s decision to list GNS is expected to provide the platform with more liquidity and a wider audience. GNS, on the other hand, is expected to gain more exposure, which will positively impact its price and popularity. This listing is seen as a significant milestone for Gains Network as it aims to become a leading decentralized leverage trading platform.
