GMX Announcements

The GMX DAO's Security Committee, Governance Committee, and Listing Committee are now fully formed, after successful elections.

The protocol is implementing transparent on-chain governance that includes delegation services because decentralisation is a crucial, step-by-step process. Building GMX is a community-driven initiative, and involving all stakeholders in decision-making boosts alignment and a healthy balance of power.

The goal is to strengthen the governance structure, decision-making processes, and community involvement.

Get to know the new committee members and their roles:

Continue reading on X: https://vxtwitter.com/GMX_IO/status/1848724360678240393

Starting in 3 minutes ❗️

The GMX community organises its third Governance Community Call on Discord.

Feel free to join and discuss the current governance proposals with contributors and DAO delegates.

Tune in: https://discord.com/events/837652500948713502/1296434255030911067

Updated GMX V2 contracts have been deployed to support more features

List of features: https://github.com/gmx-io/gmx-synthetics/pull/50

List of new contract addresses: https://github.com/gmx-io/gmx-synthetics/pull/65

Note that some features will only be enabled if approved by GMX governance

The new GMX V2 contracts will be enabled this week

Please switch to using the new contracts only after the new contracts are enabled, there will be another announcement for this

The existing GMX V2 contracts will be disabled on 20 Nov 2024

GMX V2 keepers will be updated to use the new contracts next week, so please note the handlers that would call callbacks would also change then

This deployment includes an updated FeeHandler contract which allows anyone to deposit a fixed amount of GMX or WETH / WAVAX in return for the currently claimable fees

Code details: https://github.com/gmx-io/gmx-synthetics/blob/updates/contracts/fee/FeeHandler.sol

🫐 GMX Governance

GMX will be hosting a Governance Community Call on Discord on October 22 at 11:30 am UTC. Set a reminder: https://discord.com/events/837652500948713502/1296434255030911067

The GMX DAO's Security Committee, Governance Committee, and Listing Committee are now fully formed, following successful elections. Learn more: https://snapshot.org/#/gmx.eth/

The Snapshot vote for “Listing SUI, TIA, TRX, APT, SEI, TON, BONK, and WLD” has concluded, with tokenholders highly in favour: https://gov.gmx.io/t/new-asset-listings-sui-tia-trx-apt-sei-ton-bonk-wld/3968

New Proposal to review:

Updating Liquidation Fee:

https://gov.gmx.io/t/updating-liquidation-mechanics-on-gmx-v2/3982

GMX Fee Reduction Proposal

https://gov.gmx.io/t/gmx-fee-reduction-proposal/3988/1
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🫐 A Boost for GMX users on Avalanche

Trade on Avalanche and benefit from a ~75% trading fee discount! GM liquidity providers also receive a sizable yield boost in AVAX.

Learn more: https://gmxio.notion.site/GMX-Summer-Boost-provide-liquidity-and-trade-perpetuals-to-grab-your-share-of-AVAX-rewards-13638f2e28934460a242f72def4f7d36

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🫐 GMX Ecosystem Tweets

This week’s GMX protocol metrics: https://x.com/GMX_IO/status/1848358054510608749

Defi.money introduces GMX token as a collateral type: https://x.com/defidotmoney/status/1848344748139876716

How one user earned $245,000 with the GMX Referral Program: https://x.com/tanoeth/status/1848438664587551216

Use the Python-based Dojo platform for GMX strategy development, testing, and data querying: https://x.com/GMX_IO/status/1846886715593527796

GMX Blueberry Club to launch new ambitious initiatives: https://x.com/findGBC/status/1848348934525300776

Listen to the latest episode of L2s Decoded, with Coinflipcanada from GMX: https://x.com/whizwang/status/1846675088223219727

🫐 GMX Development

• The new RewardRouter which allows for reward distribution in GMX tokens has been deployed and is ready for use, rewards will continue to be distributed in WETH until the separate contract to buyback GMX is setup

• The new RewardRouter maintains support for WETH rewards, so pending WETH rewards can still be claimed at anytime

• Bugfixes

• Listed AAVE, PEPE, UNI, POL Synthetic Markets

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🫐 GMX Governance

The GMX DAO will be hosting a Governance Community Call on Discord on October 22 at 11:30 am UTC.

Set a reminder: https://discord.com/events/837652500948713502/1296434255030911067

A proposal is live for voting on Snapshot: “Listing SUI, TIA, TRX, APT, SEI, TON, BONK, and WLD”

Vote: https://gov.gmx.io/t/new-asset-listings-sui-tia-trx-apt-sei-ton-bonk-wld/3968

GMX Governance Committee Election

https://snapshot.org/#/gmx.eth/proposal/0x9bf97eae1bd6bf6975edcdc094dddc6245c920c7b917356dc6e816f32b78a60d

GMX Security Committee Election

https://snapshot.org/#/gmx.eth/proposal/0x4514be58c57e452c5163d5db97d518aee694e3af5980a63912b06b0b91479289

GMX Listing Committee Election

https://snapshot.org/#/gmx.eth/proposal/0x4de43e30d90065bd3f968af76fad1a48a70b4886d8f3b77b482b28c57ea22898

New Proposal to review:

Updating Liquidation Fee:

https://gov.gmx.io/t/updating-liquidation-mechanics-on-gmx-v2/3982

GMX Fee reduction proposal

https://gov.gmx.io/t/gmx-fee-reduction-proposal/3988/1

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🫐 GMX Summer Boost continues

Trade on Avalanche and benefit from a ~75% trading fee discount! GM liquidity providers also receive a sizable yield boost in AVAX.

Learn more: https://gmxio.notion.site/GMX-Summer-Boost-provide-liquidity-and-trade-perpetuals-to-grab-your-share-of-AVAX-rewards-13638f2e28934460a242f72def4f7d36

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🫐 GMX Ecosystem Tweets

Listen to the latest episode of L2s Decoded, with Coinflipcanada from GMX: https://x.com/whizwang/status/1846675088223219727

This week’s community-curated GMX news: https://x.com/BlueberryPulse/status/1846651099757138313

Understanding GMX’s single-sided BTC and ETH pools, and how Dolomite uses them: https://x.com/phtevenstrong/status/1846958665514852456

Predict the GLV yield and earn, with PredictHub: https://x.com/GMX_IO/status/1846953404683186310

GMX lists POL, PEPE, AAVE and UNI synthetic market, and integrates them in GLVs: https://x.com/GMX_IO/status/1846990317234672063

Use the Python-based Dojo platform for GMX strategy development, testing, and data querying: https://x.com/GMX_IO/status/1846886715593527796

A lot of goings on this week at GMX, let’s dive in: https://x.com/SniperMonke01/status/1846657481407152273

The GMX DAO will be hosting its third Governance Community Call on the Discord Stage on Tuesday, October 22 at 11:30 am UTC.

Feel free to join and discuss the current governance proposals with contributors and DAO delegates. Set a reminder on Discord:

🔸https://discord.com/events/837652500948713502/1296434255030911067

GMX is introducing 4 new synthetic markets on Arbitrum today:

🔸 POL/USD (formerly MATIC)
🔸 PEPE/USD
🔸 AAVE/USD
🔸 UNI/USD

These new synthetic perpetual swap markets allow users to trade directly from their own wallet, while taking advantage of GMX's rapid onchain execution and auto-optimising liquidity.

All four markets are backed by underlying WETH-USDC liquidity pools, allowing them to be integrated into GLV [WETH-USDC].

By including these markets in this GMX Liquidity Vault, liquidity automatically shifts to these pools when there is an increase in demand from traders. This mechanism guarantees that liquidity constantly flows to the markets that need it most.

Additionally, GLV optimises capital efficiency for liquidity providers by directing their funds to the markets with the highest utilisation and returns.

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Read the full announcement on X: https://vxtwitter.com/GMX_IO/status/1846990317234672063

Users can now utilise the Python-based DeFi platform DOJO from Compass Labs for GMX strategy development, back-testing and simulation, and querying data:

Learn more by viewing the introductory video on X:

👉 https://vxtwitter.com/labs_compass/status/1846185330304483392

Weekly Rewards Update

• All fee data is available using the links on https://app.gmx.io/#/dashboard

• V1 data: https://stats.gmx.io/

• V1 and V2 data: https://dune.com/gmx-io/gmx-analytics

• For APRs: https://app.gmx.io/#/earn

🫐 GMX Governance

🔸 Listing SUI, TIA, TRX, APT, SEI, TON, BONK, and WLD

Vote Now: https://snapshot.org/#/gmx.eth

Very Important votes for GMX Governance Committees

GMX Governance Committee Election

https://snapshot.org/#/gmx.eth/proposal/0x9bf97eae1bd6bf6975edcdc094dddc6245c920c7b917356dc6e816f32b78a60d

GMX Security Committee Election

https://snapshot.org/#/gmx.eth/proposal/0x4514be58c57e452c5163d5db97d518aee694e3af5980a63912b06b0b91479289

GMX Listing Committee Election

https://snapshot.org/#/gmx.eth/proposal/0x4de43e30d90065bd3f968af76fad1a48a70b4886d8f3b77b482b28c57ea22898

New Proposal to review:

Updating Liquidation Fee:

https://gov.gmx.io/t/updating-liquidation-mechanics-on-gmx-v2/3982

🫐 Avalanche Boost continues

Trade on Avalanche and benefit from a ~75% trading fee discount! GM liquidity providers also receive a sizable yield boost in AVAX.
Learn more: https://gmxio.notion.site/GMX-Summer-Boost-provide-liquidity-and-trade-perpetuals-to-grab-your-share-of-AVAX-rewards-13638f2e28934460a242f72def4f7d36

A new Governance proposal is currently live on Snapshot:

🔸 Listing SUI, TIA, TRX, APT, SEI, TON, BONK, and WLD

Please consider the proposed assets for listing and cast your votes now: https://snapshot.org/#/gmx.eth

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Announcement on X: https://vxtwitter.com/GMX_IO/status/1846516543187755338

The updated RewardRouterV2 contracts have been deployed and are ready to be used on Arbitrum and Avalanche mainnet

Arbitrum: https://arbiscan.io/address/0x5E4766F932ce00aA4a1A82d3Da85adf15C5694A1

Avalanche: https://snowtrace.io/address/0x091eD806490Cc58Fd514441499e58984cCce0630

This allows the distribution of GMX tokens as rewards to staked GMX

Notes:

- The GlpRewardRouter contract for GLP remains unchanged

- Calling some functions e.g. unstake, compound on the new RewardRouter will migrate the staking structure for the account, after which the account would not be able to use functions in the current RewardRouter

The current RewardRouter contracts will be disabled on 28 Oct 2024

Current RewardRouter addresses:

Arbitrum: https://arbiscan.io/address/0x159854e14A862Df9E39E1D128b8e5F70B4A3cE9B

Avalanche: https://snowtrace.io/address/0xa192D0681E2b9484d1fA48083D36B8A2D0Da1809

The following updates have been completed by GMX's dev contributors over the past weeks:

🔸 Integrated Chaos Labs’ dynamic Edge Risk Oracles live in production, boosting protocol efficiency and response times

🔸 Created new markets for traders and pools for liquidity providers: EIGEN/USD & SATS/USD

🔸 Launched GLV, the dynamically rebalancing GMX Liquidity Vault, on Avalanche

🔸 Completed the code for the contract to buyback GMX, as part of the 'Buyback & Distribute' proposal that the DAO has voted to implement

🔸 Coded an updated RewardRouterV2 contract to support distributing protocol rewards in the GMX token

🔸 Improved internal GLV rebalancing and Risk Oracle syncing stability

🔸 Completed various UX and RPC-related updates to further improve platform reliability

🔸 Finished several UI updates to streamline the dApp display and Trade box

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Announcement on X: https://vxtwitter.com/GMX_IO/status/1846181658287919503

🫐 GMX Governance

Governance proposals for establishing the GMX Security Committee, Governance Committee and Listing Committee are live on Snapshot:

> https://snapshot.org/#/gmx.eth

New market listings have been proposed on the Governance forum: SUI, TIA, TRX, APT, SEI, TON, BONK, and WLD

> https://gov.gmx.io/t/new-asset-listings-sui-tia-trx-apt-sei-ton-bonk-wld/3968

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🫐 GMX Summer Boost continues

Trade on Avalanche and benefit from a ~75% trading fee discount! GM liquidity providers also receive a sizable yield boost in AVAX.

Learn more: https://gmxio.notion.site/GMX-Summer-Boost-provide-liquidity-and-trade-perpetuals-to-grab-your-share-of-AVAX-rewards-13638f2e28934460a242f72def4f7d36

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🫐 GMX Ecosystem Tweets

This week’s protocol metrics: https://x.com/GMX_IO/status/1845774723164061861

Periodically, a major event reminds us why decentralisation matters: https://x.com/sgoldfed/status/1845582950961688940

Benefitting from the farming opportunities on GMX with Umami Finance: https://x.com/lordjorx/status/1845789767079718984

GMX lists EIGEN from Eigenlayer: https://x.com/GMX_IO/status/1844443575314210924

GMX lists SATS (Ordinals): https://x.com/GMX_IO/status/1844711364557726143

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🫐 Request for User Feedback

Whether you are currently using GMX or have traded on the protocol in the past, please take a mini survey to help us improve. It takes less than a minute.

Share your opinion: https://gmx.typeform.com/to/GffujP6y

🫐 GMX Development

• The audit for the updated RewardRouterV2 to support rewards in the GMX token is scheduled to complete today, the updated RewardRouterV2 contract should be deployed next week

• The code for the contract to buyback GMX has been completed, the audit for it will begin in the coming week

• Eigen was added as a GM pool for traders and LPs

Read More:

https://open.substack.com/pub/gmxio/p/gmx-introduces-an-eigenusd-perpetual

• SATS was added as a GM pool for traders and LPs

Read More:

https://vxtwitter.com/GMX_IO/status/1844711364557726143

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🫐 GMX Governance

3 new Governance proposals are live on Snapshot, about establishing a:
- GMX Security Committee
- GMX Governance Committee
- GMX Listing Committee

Please vote now: https://snapshot.org/#/gmx.eth

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🫐 GMX Summer Boost continues

Trade on Avalanche and benefit from a ~75% trading fee discount! GM liquidity providers also receive a sizable yield boost in AVAX.

Learn more: https://gmxio.notion.site/GMX-Summer-Boost-provide-liquidity-and-trade-perpetuals-to-grab-your-share-of-AVAX-rewards-13638f2e28934460a242f72def4f7d36

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🫐 GMX Ecosystem Tweets

GMX lists EIGEN from Eigenlayer: https://x.com/GMX_IO/status/1844443575314210924

GMX lists SATS (Ordinals): https://x.com/GMX_IO/status/1844711364557726143

This week’s protocol metrics: https://x.com/GMX_IO/status/1843245195095400721

This week’s GMX community news: https://x.com/GMX_IO/status/1844340179009667191

Can GMX Solana offer the best Perp trading UX on the chain? https://x.com/tanoeth/status/1844300514839896202

Test Only. That’s the tweet. https://x.com/GMX_SOL/status/1844093871724310926

Three proposals related to GMX's onchain Governance are now live on Snapshot.

These votes concern the establishment of the:

🔸 GMX Security Committee
🔸 GMX Governance Committee
🔸 GMX Listing Committee

Please cast your votes now: https://snapshot.org/#/gmx.eth

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Announcement on X:

https://vxtwitter.com/GMX_IO/status/1844756315001716909

GMX introduces a new perpetual futures market on Arbitrum:

🔸 SATS/USD (Ordinals)

Trade the 'most memeable memecoin on Bitcoin Chain' on GMX, or provide BTC/USDC liquidity to earn rewards from pool fees.

The new SATS/USD perpetual swap market allows users to trade the BRC-20 token SATS with up to 50x, directly from their personal wallet.

Liquidity providers, please note that this is a synthetic market backed by an underlying BTC/USDC liquidity pool. This means liquidity for the SATS market is provided as BTC or USDC, and LPs in the GM: SATS/USD pool hold a roughly 50/50 mix of those two assets.

The SATS/USD market has also been included in GLV [BTC/USDC], the newly introduced GMX Liquidity Vault. Adding the new market to GLV ensures that liquidity can always meet trading demand, as GLV dynamically shifts its liquidity to the markets with the highest utilisation.

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Read the full announcement on X: https://vxtwitter.com/GMX_IO/status/1844711364557726143

GMX introduces an EIGEN/USD perpetual swap market, following the launch of Eigenlayer’s token.

The new EIGEN/USD market on Arbitrum is a synthetic market backed by a WETH-USDC pool. Provide liquidity to the GM pool now to earn fees, or trade EIGEN permissionlessly straight from your wallet.

Read the full launch announcement:

> https://open.substack.com/pub/gmxio/p/gmx-introduces-an-eigenusd-perpetual

Weekly Rewards Update

• All fee data is available using the links on https://app.gmx.io/#/dashboard

• V1 data: https://stats.gmx.io/

• V1 and V2 data: https://dune.com/gmx-io/gmx-analytics

• For APRs: https://app.gmx.io/#/earn

🫐 GMX Governance

• Voting has conclude on GMSOL or GMX-SOLANA? Decide then Sail

View the results here.

https://snapshot.org/#/gmx.eth/proposal/0x0cdba7d9720606b567cc8a61c52cc483aa41991031b6bc7dfbc81070cabe0cf3

🫐 Avalanche Boost continues

Trade on Avalanche and benefit from a ~75% trading fee discount! GM liquidity providers also receive a sizable yield boost in AVAX.
Learn more: https://gmxio.notion.site/GMX-Summer-Boost-provide-liquidity-and-trade-perpetuals-to-grab-your-share-of-AVAX-rewards-13638f2e28934460a242f72def4f7d36

Starting Now ❗️

X Spaces roundtable discussion: OKX and Arbitrum FRENS

Tune in:

> https://x.com/okx/status/1843651428390510858

Three popular Telegram bots by community dev @SniperMonke01 have now been redeployed, after being unavailable for a few days.

They're excellent resources for GMX users, allowing you to:

🔸Track new positions: http://t.me/GMXv2Positions
🔸Track $1M+ size trades http://t.me/GMXwhaleTraders
🔸Monitor top traders, liquidity, & funding rates: http://t.me/GMXTradingToolsBot

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Announcement on X: https://vxtwitter.com/GMX_IO/status/1843639004249354249