GMX Announcements

GMX-Solana will offer innovative Trade-to-Mint tokenomics, along with CEX-level trading fees and blazing-fast execution speed.

Explaining the $GT - $GMX Flywheel of @GMX_SOLANA:

➡️ https://medium.com/@gmx-sol/gmx-solana-building-a-trader-focused-perpetual-dex-through-the-gt-gmx-flywheel-2e81cc25bf0a

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1876267493410619814

Trading fees on GMX have now been decreased by up to 20%, with an average reduction of 17.3% for opening and closing positions!

These fee reductions reflect many recent optimisations that have made GMX's markets more capital-efficient, benefiting both traders and LPs alike.

Enjoy the GMX experience of lightning-fast, permissionless and affordable on-chain trading: app.gmx.io

———

Full announcement on X: https://fxtwitter.com/GMX_IO/status/1876233908498596327

🫐 GMX Development

• Substack on GMX Development through 2025: https://gmxio.substack.com/p/gmx-development-plan-for-2025

• Various UX Improvements

🫐 GMX Governance

• GMX-Solana: Mainnet Test and Second Round of Audit

https://gov.gmx.io/t/gmx-solana-mainnet-test-and-second-round-of-audit/4268/1

_____

🫐 GMX Ecosystem Tweets

GBC Trading Competition is already LIVE!
https://x.com/findGBC/status/1875168819645227292

Easily explore and track every move traders make on GMX, all in one place with Copin Analyzer:
https://x.com/Copin_io/status/1874766177173680440

To kick off 2025 in style, GMX is reducing trading fees across *all* markets!
https://x.com/GMX_IO/status/1874830906784952633

DYDX and INJ Markets Listed:
https://x.com/GMX_IO/status/1872283520233775126
https://x.com/GMX_IO/status/1872371903966650616

GMX Weekly Statistics:
https://x.com/GMX_IO/status/1873763811955769353
__

🫐 Trading/Liquidity Incentives

The AVAX Boost Continues!

Trade on Avalanche and benefit from up to ~75% trading fee discount, or provide GM liquidity to receive a big yield boost in AVAX.

---------

Important Reminder to Follow GMX Technical Announcements for the latest development updates!

@GMX_Technical_Announcements

GMX is excited to present the Development Plan for the first months of 2025:

🔹 Multichain: trade on GMX from anywhere
🔹 Gasless Transactions
🔹 Cross-collateral Support
🔹 Network Fee Subsidies
🔹 Lower Price Impact
🔹 Scaling Liquidity via Net Open Interest

And what comes after…


With GMX v2.2, the focus is on further enhancing stability, lowering costs for users, and enabling multichain access.

These plans reflect GMX’s commitment to creating an accessible, high-performance, user-friendly platform powered by public blockchains and decentralised technology.

Today, the GMX DEX is trusted by thousands of users every day, facilitating billions of dollars in weekly trading volume. The protocol serves as a foundational liquidity layer for the #DeFi infrastructure on Arbitrum and Avalanche.

In the near future, this trading and liquidity infrastructure will expand to include Solana (via @GMX_SOLANA) and will be accessible from any supported EVM blockchain...

This will further solidify GMX’s role as a base layer for an interconnected decentralised finance ecosystem.


———

Like/Share/Comment on X:

🔸 https://fxtwitter.com/GMX_IO/status/1875212738403729757

Read the full vision document on the GMX News blog:

🔸 https://gmxio.substack.com/p/gmx-development-plan-for-2025

To kick off 2025 in style, GMX is reducing trading fees across *all* markets!

Starting this Monday, January 6, the open and close fees for all positions will decrease from 5 bps / 7 bps to 4 bps / 6 bps.

———

Following a successful evaluation of lower trading fees on the SOL, DOGE, and LINK markets on Arbitrum, this change is now being rolled out to all markets. The evaluation confirms that liquidity providers’ fees remained steady while traders enjoyed significantly lower open and close fees.

One slight refinement is being made to the earlier changes: instead of a uniform 4.5 bps fee, a new 4 bps / 6 bps fee structure will be introduced. If a trade improves the balance between Longs and Shorts, you’ll benefit from the lower 4 basis points; otherwise, the fee will be 6 basis points.

This adjustment ensures balanced open interest, which in turn keeps funding fees and price impact low. And that makes the GMX experience of lightning-fast, permissionless on-chain trading even more affordable for all users.

Alongside the reduction in trading fees, liquidation fees will be updated to be 20 bps for asset-backed markets and 30 bps for synthetic markets.

Together, these updates lower costs for all traders and enhance safety for liquidity providers, boosting the overall #GMX user experience.

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1874830906784952633

From the evaluation of this change so far, the fees for liquidity providers have remained the same, while allowing traders to trade with lower open / close fees

This change will be rolled out to all markets on 6 Jan 2025, with a slight adjustment to facilitate ensuring the long / short open interest of markets remain balanced, which would help keep funding / price impact low

On 6 Jan 2025, the open / close fees for all markets would be updated from 5 bps / 7 bps to 4 bps / 6 bps

If the trade increases the balance of longs and shorts then the fee would be 4 bps, otherwise the fee would be 6 bps

Liquidation fees will be updated to be 20 bps for backed markets and 30 bps for synthetic markets

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

All AVAX incentives have been distributed

🫐 A Boost for GMX users on Avalanche

Trade on Avalanche and benefit from up to 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

🫐 GMX Governance

• New proposal on the Governance forum: “Bridging GMX To Solana"

View: https://gov.gmx.io/t/bridging-gmx-to-solana/4233/2

• GMX Listing Committee Replacement:

https://gov.gmx.io/t/replacement-of-kyzo-with-immie-in-the-gmx-listing-committee/4262

• Gmx v2.2 + v2.3

https://gov.gmx.io/t/gmx-v2-2-v2-3/4223/1

🫐 GMX Governance

• New proposal on the Governance forum: “Bridging GMX To Solana"

View: https://gov.gmx.io/t/bridging-gmx-to-solana/4233/2

• GMX Listing Committee Replacement:

https://gov.gmx.io/t/replacement-of-kyzo-with-immie-in-the-gmx-listing-committee/4262

• Gmx v2.2 + v2.3

https://gov.gmx.io/t/gmx-v2-2-v2-3/4223/1

_____

🫐 GMX Ecosystem Tweets

Money market VenusProtocol is integrating the GM: ETH-USDC token as collateral on #Arbitrum, on top of the GM: BTC-USDC token they already support!:
https://x.com/GMX_IO/status/1872698687580934417

GMX Weekly Stats: https://x.com/GMX_IO/status/1873763811955769353

GM Berries, the new edition of the Pulse is out!: https://x.com/BlueberryPulse/status/1873517262897864907

_____

🫐 Trading/Liquidity Incentives

The AVAX Boost Continues!

Trade on Avalanche and benefit from up to ~75% trading fee discount, or provide GM liquidity to receive a big yield boost in AVAX.

---------

Important Reminder to follow GMX Technical Announcements for the latest development updates!

@GMX_Technical_Announcements

🫐 GMX Development

• DYDX and INJ were listed for liquidity providers and traders

• Various UX Improvements

🫐 GMX Governance

• New proposal on the Governance forum: “Bridging GMX To Solana"

View: https://gov.gmx.io/t/bridging-gmx-to-solana/4233/2

GMX Listing Committee Replacement:

https://gov.gmx.io/t/replacement-of-kyzo-with-immie-in-the-gmx-listing-committee/4262

_____

🫐 GMX Ecosystem Tweets

Money market VenusProtocol is integrating the GM: ETH-USDC token as collateral on #Arbitrum, on top of the GM: BTC-USDC token they already support!:
https://x.com/GMX_IO/status/1872698687580934417

Berry Christmas!:
https://x.com/findGBC/status/1871918510471094489

GMX-SOLANA: Building a Trader-Focused Perpetual DEX Through the GT-GMX Flywheel
https://x.com/GMX_SOL/status/1871612479501140134

DYDX and INJ Markets Listed:

https://x.com/GMX_IO/status/1872283520233775126

https://x.com/GMX_IO/status/1872371903966650616

_____

🫐 Trading/Liquidity Incentives

The AVAX Boost Continues!

Trade on Avalanche and benefit from up to ~75% trading fee discount, or provide GM liquidity to receive a big yield boost in AVAX.

tBTC Incentives:

tBTC incentives for liquidity providers will ended December 25th

---------

Important Reminder to Follow GMX Technical Announcements for the latest development updates!

@GMX_Technical_Announcements

GMX announces the introduction of two new trading pairs: INJ/USD (Injective) and DYDX/USD. Users can now go Long or Short the INJ and dYdX tokens with leverage, while enjoying the GMX experience of transparently fair pricing, self-custody, and split-second onchain execution.

The launch of these perpetual swaps is part of GMX’s ongoing effort to expand its market offerings. More than 60 assets are currently available for trading, and the GMX Listing Committee introduces additional markets weekly based on community feedback and popular demand.

The DYDX and INJ markets are synthetic perpetual swaps, supported by GM liquidity pools that contain BTC-USDC. These BTC-USDC pools have been included in GLV [BTC-USDC], facilitating dynamic liquidity management.

———

Read the full announcement on the GMX News blog:

✅ https://gmxio.substack.com/p/gmx-introduces-dydx-and-inj-perpetual

The max funding rates on GMX have been updated to be automatically adjusted based on the funding rates on other exchanges

The logic for the max funding rate is:

- Based on the median of reference exchanges, calculate the target max funding rate
- Adjust the max funding rate towards this target max funding rate
- The rate of change of the max funding rate is capped to the higher of [10%, 10% of current max rate] per hour

For example, if the current max funding rate is 10% and target max funding rate is 30%, then the max funding rate will be increased by higher of [10%, 1%] = 10% to 20% after an hour

If the current max funding rate is 130% and target max funding rate is 150%, then the max funding rate will be increased by higher of [10%, 13%] = 13% to 143% after an hour

Note that this is the logic for the "Max Funding Rate", the actual funding rate would still be based on the adaptive funding logic: https://docs.gmx.io/docs/trading/v2/#adaptive-funding.

GMX launches a new perpetual swap market on Arbitrum:

🔸 INJ/USD (Injective)

Trade the INJ token on #GMX with up to 50x leverage and fast onchain execution, directly from your self-custody wallet!

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1872371903966650616

GMX is excited to introduce a new perpetual swap market on
Arbitrum:

🔸 DYDX/USD

Go Long or Short the dYdX token, and benefit from GMX's self-custody, fair pricing, and split-second onchain execution.

———

The DYDX market is a synthetic perpetual future, backed by a [BTC-USDC] liquidity pool.

This GM pool has also been added to GLV [BTC-USDC], one of the GMX Liquidity Vaults. GLV auto-optimises liquidity by allocating it to its underlying GM pools based on their utilisation.

This unique mechanism enables $GLV to effectively support dozens of synthetic markets. It simultaneously optimises capital efficiency for GLV liquidity providers.

Trade the new markets on #Arbitrum, or mint GLV to earn from the top-performing pools on GMX automatically.

———

Announcement on X:

https://fxtwitter.com/GMX_IO/status/1872283516488032746

🫐 GMX Governance

• New proposal on the Governance forum: “Bridging GMX To Solana"

View: https://gov.gmx.io/t/bridging-gmx-to-solana/4233/2

GMX Listing Committee Replacement:

https://gov.gmx.io/t/replacement-of-kyzo-with-immie-in-the-gmx-listing-committee/4262

_____

🫐 GMX Ecosystem Tweets

GMX and the TON Foundation are collaborating on a developer competition, to push the boundaries of Perp DEXs on public blockchains: https://x.com/GMX_IO/status/1870178701100372343

Weekly GMX stats: https://x.com/GMX_IO/status/1871186925333467258

Abracadabra launches support for Single-Sided gmBTC and gmETH cauldrons: https://x.com/MIM_Spell/status/1870042003360080098

Leverage GLV-ETH & GLV-BTC Strategy Spotlight:
https://x.com/Dolomite_io/status/1869490644709961981

Earn APY with the ETH HyperGrowth Vault by Harmonix Finance
https://x.com/harmonixfi/status/1871198536777495002

_____

🫐 Trading/Liquidity Incentives

The AVAX Boost Continues!

Trade on Avalanche and benefit from up to ~75% trading fee discount, or provide GM liquidity to receive a big yield boost in AVAX.

tBTC Incentives:

tBTC incentives for liquidity providers will end December 25th

---------

Important Reminder to Follow GMX Technical Announcements for the latest development updates!

@GMX_Technical_Announcements

The max funding rate on GMX will be updated to be automatically adjusted based on the funding rates on other exchanges

Previously logic was enabled that would decrease the funding rate if long / short open interest was balanced within a 2% difference, with the introduction of the automatic updates to the max funding rate, this logic will be disabled

These updates will take place on 26 Dec 2024

🫐 GMX Development

• The GMX developers have proposed an elaborate Development Plan for GMX v2.2 and v2.3 on the Governance forum, see: gov.gmx.io

• Price Impact on GMX now much lower, due to dynamic Edge Risk Oracles from Chaos Labs: https://gmxio.substack.com/p/price-impact-on-gmx-now-much-lower

_____

🫐 GMX Governance

• New proposal on the Governance forum: “Bridging GMX To Solana"

View: https://gov.gmx.io/t/bridging-gmx-to-solana/4233/2

_____

🫐 GMX Ecosystem Tweets

GMX and the TON Foundation are collaborating on a developer competition, to push the boundaries of Perp DEXs on public blockchains: https://x.com/GMX_IO/status/1870178701100372343

New all-time highs in usage on GMX on this turbulent day: https://x.com/GMX_IO/status/1870111119181750391

Best day ever for the BB&D program, with 7550 GMX (~$220k) so far: https://x.com/sliux/status/1870158649957498984

Dynamic Price Impact on GMX Powered by Edge Risk Oracles: https://x.com/chaos_labs/status/1870137288400719993

Abracadabra launches support for Single-Sided gmBTC and gmETH cauldrons: https://x.com/MIM_Spell/status/1870042003360080098

405 MILLION GIF views for the Kudaberi from GMX Blueberry Club: https://x.com/Churro808/status/1869866399818276927

_____

🫐 Avalanche Boosted

Network fees on Avalanche are significantly lower following the Avalanche9000 upgrade!

Trade on Avalanche and benefit from up to ~75% trading fee discount, or provide GM liquidity to receive a big yield boost in AVAX.

GMX and the TON Foundation are collaborating, to push the boundaries of DeFi on decentralised, public blockchains:

As part of this initiative, the TON Foundation and GMX are launching a developer competition. We invite participants to design a cutting-edge Perpetual DEX on the $TON Blockchain, which achieves two key goals:

🔹 Drive innovation in high-frequency trading
🔹 Drive innovation in transaction fee optimisation

Through this collaboration, the TON Foundation seeks to leverage GMX’s extensive Perp DEX expertise, including on efficient, low-slippage trading and competitive fee structures.

GMX's focus is on supporting the evolution of trading on public blockchains, and the potential opportunities this creates for the GMX DAO.

Developers, founders, and projects within the TON ecosystem are encouraged to apply for the competition, which offers a chance to win GMX advisory services and TON Foundation support.

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1870178701100372343

Interested builders can apply here: https://docs.google.com/forms/d/e/1FAIpQLSfQ7QYTd69WfBW-UcG7mwGNJZt6PABgo26L2CobL4ulKHENWA/viewform?usp=sf_link

Price Impact on GMX now much lower, due to dynamic Edge Risk Oracles from Chaos Labs

GMX has successfully integrated Edge Risk Oracles from Chaos Labs to dynamically manage price impact in its Arbitrum markets. This advancement in on-chain risk management enables real-time, contextual adjustments to market parameters. As a result, price impact has been significantly reduced on nearly all markets, and traders now enjoy more competitive pricing.

Try it now and feel the difference: app.gmx.io

———

Announcement on the GMX News blog:

✅ https://gmxio.substack.com/p/price-impact-on-gmx-now-much-lower

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

All AVAX incentives have been distributed

tBTC incentives have been distributed

🫐 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

🫐 GMX SDK

An in-house SDK for GMX has been developed and has just been released.

You can find it here:

✅ https://github.com/gmx-io/gmx-interface/tree/master/sdk

Announcing: X Spaces Live - an AMA session with GMX and the builders behind Exit Market, Umami Finance and BonsaiDAO.

📅 Thursday, December 19
⏰ 6 PM UTC / 1 PM ET

Set a reminder to tune in: https://x.com/i/spaces/1yoKMyawZpXKQ

Announcement on X: https://fxtwitter.com/GMX_IO/status/1869396706149998945

An in-house SDK for GMX has been developed and has just been released.

You can find it here:

✅ https://github.com/gmx-io/gmx-interface/tree/master/sdk

This first version is lite, with the following functions available:

- Read
- Markets
- Market Info
- Positions
- Tokens
- Orders
- Trade History

Write
- Cancel Orders
- Create Increase Order
- Create Decrease Order
- Create Swap Order


We hope it adds value for you, as GMX users and integrators. If there's anything that can be further optimised, please let us know.

There will be an AMA with Blockchain Whispers and X (GMX) on Friday, 20 Dec 2024, 1pm UTC

The AMA will take place at https://blockchainwhispers.com/c/the-great-ama

🫐 GMX Governance

• New proposal on the Governance forum: “Bridging GMX To Solana"

View: https://gov.gmx.io/t/bridging-gmx-to-solana/4233/2

_________

All AVAX incentives from the previous week have been distributed

🫐 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


🫐 GMX Ecosystem Tweets

GMX-Solana Sherlock Audit: https://x.com/GMX_SOL/status/1868715329645654365

Dynamic Price Impact updates have now been enabled on Arbitrum: https://x.com/GMX_IO/status/1866794916392874021

This week’s GMX protocol metrics: https://x.com/GMX_IO/status/1868635606731104683

GMX launches a perpetual market for Filecoin: https://x.com/GMX_IO/status/1867250257471373748

Proposal launched to add GM: ETH/USDC liquidity token as collateral on Venus: https://x.com/VenusProtocol/status/1866234338326847666

Keep up to date with the latest BlueBerry news: https://x.com/BlueberryPulse/status/1868001629485793338

🫐 GMX Development

• Trading view update gives chart indicators autosave and other improvements
• New dropdown allows easier decision making when choosing a market to trade on
• UI Improvements
• Ongoing GMX V2.2 discussion: https://gov.gmx.io/t/gmx-v2-2-v2-3/4223
• Proposal on bridge to use for bridging GMX to Solana

Alongside, numerous other protocol upgrades have been realised in the last weeks. Check out: https://x.com/GMX_IO/status/1867597486476464381

_____________

🫐 GMX Governance

• New proposal on the Governance forum: “Bridging GMX To Solana"

View: https://gov.gmx.io/t/bridging-gmx-to-solana/4233/2

_________

🫐 GMX Ecosystem Tweets

Dynamic Price Impact updates have now been enabled on Arbitrum: https://x.com/GMX_IO/status/1866794916392874021

This week’s GMX protocol metrics: https://x.com/GMX_IO/status/1866152295169200491

GMX launches a perpetual market for Filecoin: https://x.com/GMX_IO/status/1867250257471373748

Proposal launched to add GM: ETH/USDC liquidity token as collateral on Venus: https://x.com/VenusProtocol/status/1866234338326847666

Coming to GMX: Multichain / Gasless Transactions / Cross-collateral / Lower Price Impact / and Scaling Liquidity: https://x.com/Jonas_ALA/status/1867240464509800917

The GMX developers have proposed an elaborate Development Plan for GMX v2.2 and v2.3 on the Governance forum.

Alongside, all the following protocol refinements were realised in the last weeks:

🔸 Decreased the Funding Rates on GMX for all #Arbitrum markets

🔸 Introduced numerous new markets for traders and liquidity providers: FLOKI, MEW, MEME, BOME, FIL, XLM, RENDER, ADA, BCH, DOT, ICP, PENDLE, BONK, WLD, and TAO

🔸 Launched Single-Token Pools for SOL/USD and GMX/USD, allowing single-sided liquidity provision to these markets

🔸 Reduced Open and Close fees by 25% for the SOL/USD, DOGE/USD, and LINK/USD markets

🔸 Implemented Liquidation Fees for these same markets as a trial

🔸 Updated PEPE, SATS, and SHIB tokens to kPEPE, mSATS, and kSHIB for a better user experience

🔸 Deployed a new ChainlinkDataStreamProvider, allowing GMX to further reduce the spread

🔸 Re-deployed the ExchangeRouter and GlvRouter contracts to include additional functionality

🔸 Made improvements to the Pool selector, chart loading speed, and various other UX enhancements on the Trade page

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1867597486476464381

GMX launches a new perpetual market on #Arbitrum, by popular demand:

🔸 FIL/USD (Filecoin)

Trade the FIL token permissionlessly with up to 50x leverage. Your wallet, your funds, your trades!

-> app.gmx.io

$FIL #FIL

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1867250257471373748

Important Reminder ❗️

There are many scammers claiming to be 'GMX Support' who will often contact you in private when you ask for support in the main GMX Telegram channel.

Be vigilant: real GMX Admins, Mods and Support contributors will never DM you first. Always double-check the @ of the person you are interacting with. Ensure it matches the username of that person in the GMX_IO channel.

And there are fake groups on Telegram that imitate @GMX_IO, complete with fake Mods and Admins with the same names as the real Mods in the GMX channel.

Please be careful, and double-check that you're in the real GMX channel:

🔹 https://t.me/GMX_IO

———————

The only other legit GMX community channels are:

🔹 GMX Announcements > https://t.me/GMX_Announcements

🔹 GMX Unofficial Trading Chat > https://t.me/gambittradingchat

🔹 GMX-Solana > https://t.me/GMX_SOLANA

🔹 GMX Chinese > https://t.me/gmxch

🔹 GMX Brasil > https://t.me/GMX_Portuguese


———————

No one in the real GMX channel will request you to:

- connect your wallet to any website
- scan any QR code
- interact with any Telegram bot
- delegate your GMX tokens on any website (other than DAO Governance platform Tally.xyz)
- migrate your GMX tokens in any way
- or do something to receive a GMX airdrop

Those are all tricks that scammers use to steal your tokens from you.

Please remain vigilant, and block and report any imitators!

———————

Note: to prevent being added to fake channels, update your Telegram settings now:

Go to -> Settings -> Privacy & Security -> Groups & Channels -> and then set 'who can add me to groups & channels' to Nobody.

Thank you 🙏

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

All AVAX incentives have a slight delay and will be distributed this week

tBTC incentives have been distributed

🫐 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

🫐 Platform Updates

Dynamic Price Impact updates have now been enabled on Arbitrum, thanks to Edge Risk Oracles from Chaos Labs.

Announcement on X: https://fxtwitter.com/GMX_IO/status/1866794916392874021

🔸"Development Plan: GMX v2.2 + v2.3" 🫐

Your input is appreciated; please join the discussion.

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1866119846703866151

Discussion on the DAO forum: https://gov.gmx.io/

The GMX Governance Community Call is starting now:

Come and hear about the present and future of GMX, with core contributors and DAO delegates present:

🔸https://discord.gg/s3yzwKrh?event=1314607051246141440

Dynamic Price Impact updates have now been enabled on Arbitrum, thanks to Edge Risk Oracles from Chaos Labs.

This innovative mechanism has significantly lowered the overall price impact across most markets.

Notably, there have been substantial enhancements in the main markets. For instance, the price impact for BTC and ETH is approximately 60% lower for trades of $1 million in size.

The caps on Open Interest have also been raised, allowing for bigger positions.

Try it out yourself now, and experience the remarkable improvements:

🔸 app.gmx.io/#/trade

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1866794916392874021

Starting Now ❗️

X Spaces live: Arbitrum & GMX DeFi Roundtable

“Building for the Next-Gen of DeFi Users”, with Pendle, Tradao & KnightSafe

Tune in:

> https://x.com/i/spaces/1kvJpbOvbmDKE

🫐 GMX Development

• Listed XLM, RNDR, BCH, ADA, DOT and ICP perpetual swap markets

• Introduced single-sided SOL liquidity pool for the SOL/USDC market

• GMX is introducing a 25% reduction of Open & Close fees on select markets as of Dec. 4

• The new ExchangeRouter and GlvRouter contracts were re-deployed on November 15. To ensure that the contract migration will work smoothly for the subgraphs and interface, additional testing is being done. Due to this, the keepers have been switched to the new contracts as of 25 Nov 2024.

The existing GMX V2 contracts will be disabled on 4 Dec 2024.

Important reminder for integrators to please follow: @GMX_Technical_Announcements

_____________

🫐 GMX Governance

On Snapshot, the “Proposal to Transfer USDC and GMX tokens to GMX-Solana for Initial Liquidity Provision” was voted on by the community, with the “$200K in USDC & $200K worth GMX” option receiving majority support.

This proposal has now passed the Snapshot vote. See: https://snapshot.org/#/gmx.eth

New proposal on the Governance forum: “GMX: Increasing Buyback & Distribute Fee Coverage from 27% to 90%”
See: https://gov.gmx.io/t/gmx-increasing-buyback-distribute-fee-coverage-from-27-to-90/4175/40

Learn more about the GMX DAO governance structure: https://docs.gmx.io/docs/category/governance

_________

🫐 GMX Ecosystem Tweets

GMX competes in Defidotapp's Degen Arena, to celebrate their upcoming integration of GMX Perps: https://x.com/GMX_IO/status/1861439807504716147

GMX is introducing a 25% reduction of Open & Close fees on select markets: https://x.com/GMX_IO/status/1861743953537569043

GBC and GMX unite to lead Arbitrum’s identity: https://x.com/XM_GBC/status/1860721019213795748

Is GMX the MicroStrategy of DeFi?: https://x.com/joatthegoat777/status/1859828419292266961

In one month, 100K GMX has been bought back: https://x.com/citizenofgmx/status/1860519571486028241

An overview of the upcoming GMX-Solana launch: https://x.com/abund8nce/status/1862197285578277134

Three new markets just went live on GMX, including the long-anticipated single-sided $SOL pool:
https://x.com/SniperMonke01/status/1862466030196473874

_____________

🫐 Opportunities on Avalanche

Trade on Avalanche and benefit from a ~75% trading fee discount! GM liquidity providers can receive a big 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 single-sided SOL/USD [SOL] liquidity pool is now live on GMX!

This new Single-Token GM pool on Arbitrum enables LPs to provide pure $SOL liquidity to the SOL/USD market, earning rewards while maintaining 100% SOL exposure.

———

Details of the SOL Single-Token Pool:

• The new SOL/USD [SOL] pool exists alongside the current dual-asset SOL/USD [SOL-USDC] pool. Traders can choose the one offering optimal execution.

• The SOL/USD [SOL] Single-Token Pool offers GMX’s numerous integrators a new attractive, composable, and highly correlated reward-earning product

• Users can buy GM: SOL/USD [SOL] to provide single-sided SOL liquidity and earn fees from trading and market-making that exceed native SOL staking rewards.

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1862535715935928452

Learn more by reading the launch article on the GMX News blog: https://gmxio.substack.com/p/gmx-launches-a-single-token-pool

Hold SOL and Earn: http://app.gmx.io/earn

GMX introduces a new perpetual swap market on #Arbitrum:

🔸 XLM/USD (Stellar)

Trade the XLM token with up to 50x your collateral value. Your wallet, your funds, your trades.

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1862499813968748556

Learn more about all the new markets added on GMX this week on the GMX News blog:

👉 https://gmxio.substack.com/p/gmx-introduces-xlm-and-render-perpetual

GMX has launched a new perpetual swap market on #Arbitrum due to popular demand:

🔸 RENDER/USD (Formerly RNDR)

Go Long or Short the RENDER token, straight from your own self-custody wallet and with deep liquidity, on GMX.

Liquidity can be provided directly to the GM: RENDER/USD pool (with WETH or USDC), or to the GLV [WETH-USDC] vault in which the RENDER liquidity pool has been integrated.

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1862472229188936026

GMX is launching another new perpetual swap market on #Arbitrum:

🔸 BCH/USD (Bitcoin Cash)

Long or Short the $BCH token from the comfort of your own DeFi wallet. Permissionless, intuitive, and with GMX's fast on-chain execution.

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1862175123266224322

Learn more about all the new markets introduced on GMX today, and how the GLV vault facilitates them, in the launch article on the GMX News blog:

👉 https://gmxio.substack.com/p/gmx-launches-ada-bch-dot-and-icp

GMX is introducing a new perpetual swap market:

🔸 ADA/USD

Go Long or Short the Cardano token, while benefitting from GMX's self-custody and lightning-fast onchain execution.

———

Learn more on X: https://fxtwitter.com/GMX_IO/status/1862169434443432151

GMX is bringing two new perpetual swap markets to #Arbitrum:

🔸 DOT/USD (Polkadot)
🔸 ICP/USD (Internet Computer)

Go Long or Short the DOT or ICP token with up to 50x leverage, straight from your own self-custody wallet! No depositing is required.

Provide liquidity to GLV to automatically earn from all the best-performing markets on GMX.

$DOT $ICP

———

Announcement on X: https://twitter.com/GMX_IO/status/1862153514513846736

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

All AVAX incentives have been distributed

tBTC incentives have been distributed

🫐 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
...

🫐 GMX Development:

• The new ExchangeRouter and GlvRouter contracts were re-deployed on November 15. To ensure that the contract migration will work smoothly for the subgraphs and interface, additional testing is being done. Due to this, the keepers have been switched to the new contracts as of 25 Nov 2024.

The existing GMX V2 contracts will be disabled on 4 Dec 2024

Important reminder to please follow @GMX_Technical_Announcements

GMX is introducing a 25% reduction of Open & Close fees on select markets:

On 4 December 2024, the SOL/USD, DOGE/USD, and LINK/USD markets will be the first markets to trial updated parameters, aimed at making trading more affordable and secure.

The Open and Close fees for all trades on these markets will be reduced to a flat 4.5 basis points, from the current rates of 7 bps / 5 bps.

Additionally, the newly activated liquidation fees (initial parameter: 20 basis points) will be implemented for these markets at the same time.

These updates aim to lower costs for all traders, support larger markets, and create a safer and more sustainable mechanism for liquidity providers absorbing liquidations.

Feedback and monitoring of these updates will be evaluated over several weeks, before considering application to additional markets.

_____________

Announcement on X:

https://fxtwitter.com/GMX_IO/status/1861743953537569043

🫐 GMX Governance

On Tally, the "Proposal for GMX Committee Payments" received majority support and is now pending execution.

See: https://www.tally.xyz/gov/gmx

On Snapshot, the “Proposal to Transfer USDC and GMX tokens to GMX-Solana for Initial Liquidity Provision” was accepted by the community, with the “$200K in USDC & $200K worth GMX” option receiving majority support.

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

Learn more about the GMX DAO governance structure: https://docs.gmx.io/docs/category/governance

_________

🫐 GMX Ecosystem Tweets

GMX launches new markets for the memes MEW, FLOKI, BOME, and MEME: https://x.com/GMX_IO/status/1859680772174856616

GMX launches a perp & spot market for PENDLE/USD: https://x.com/GMX_IO/status/1859942262266007688

GBC and GMX unite to lead Arbitrum’s identity: https://x.com/XM_GBC/status/1860721019213795748

GMX introduces a Single-Token Pool for the GMX/USD market: https://x.com/GMX_IO/status/1859964245804290294

This last week’s protocol metrics: https://x.com/GMX_IO/status/1861011450891813024

Is GMX the MicroStrategy of DeFi?: https://x.com/joatthegoat777/status/1859828419292266961

In one month, 100K GMX was bought back: https://x.com/citizenofgmx/status/1860519571486028241

_____________

🫐 Avalanche Boost continues

A new epoch has started: trade on Avalanche and benefit from a ~75% trading fee discount! GM liquidity providers receive a big 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

🫐 GMX Development

• Listed 6 new markets, MEW, FLOKI, MEME and BOME, Pendle, GMX (Single-Sided)

• The new ExchangeRouter and GlvRouter contracts were re-deployed on November 15. To ensure that the contract migration will work smoothly for the subgraphs and interface, additional testing is being done. Due to this, the keepers will be switched to the new contracts on 25 Nov 2024.

The existing GMX V2 contracts will be disabled on 4 Dec 2024 instead

Important reminder to please follow @GMX_Technical_Announcements
_____________

🫐 GMX Governance

A Governance proposal is now live on Tally for voting: "Proposal for GMX Committee Payments"

See: https://www.tally.xyz/gov/gmx

A separate Governance proposal is live on Snapshot: “Proposal to Transfer USDC and GMX tokens to GMX-Solana for Initial Liquidity Provision”

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

Learn more about the GMX DAO governance structure: https://docs.gmx.io/docs/category/governance

_________

🫐 GMX Ecosystem Tweets

GMX launches new perpetual swap markets for MEW, FLOKI, BOME, and MEME: https://x.com/GMX_IO/status/1859680772174856616

GMX launches a market for PENDLE/USD: https://x.com/GMX_IO/status/1859942262266007688

Open Interest on GMX reaches a new all-time high: https://x.com/GMX_IO/status/1859272446018286049

GMX introduces a Single-Token Pool for the GMX/USD market: https://x.com/GMX_IO/status/1859964245804290294

GM: ETH/USD [WETH-USDC] is now supported as collateral on Silo Finance: https://x.com/SiloFinance/status/1859599664083050532

This week’s impressive protocol metrics: https://x.com/GMX_IO/status/1858484571450310900

New delta-neutral GM: UNI/USD strategy is now live on Dolomite: https://x.com/Dolomite_io/status/1859332412544897467

This week’s community-curated news from the GMX ecosystem: https://x.com/BlueberryPulse/status/1860021738572251263

_____________

🫐 Avalanche Boost continues

A new epoch has started: trade on Avalanche and benefit from a ~75% trading fee discount! GM liquidity providers receive a big 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 live: "Dolomite x GMX: Let’s Talk GM Assets and Strategies"

Tune in:

> https://x.com/i/spaces/1vOGwrVwogrKB

GMX introduces a Single-Token Pool for the GMX/USD market:

🔸 GMX/USD [GMX]

This single-asset GM pool enables Liquidity Providers to supply 100% GMX liquidity to the GMX market, helping them avoid impermanent loss.

The new pool complements the existing GMX/USD [GMX/USDC] pool.

——

Announcement on X: https://fxtwitter.com/GMX_IO/status/1859964245804290294

GMX is thrilled to introduce a new market on
Arbitrum:

🔸 PENDLE/USD

Go Long or Short the PENDLE token or trade it on Spot, while benefitting from GMX's self-custody and lightning-fast onchain execution.

——

The new PENDLE market is supported by a GM: PENDLE-USDC liquidity pool. As this market is backed by its native asset and not a Synthetic market, spot trading of PENDLE is available as well.

Trade now, or buy GM with PENDLE or USDC to supply liquidity and earn.


——

Announcement on X: https://fxtwitter.com/GMX_IO/status/1859942262266007688

GMX is excited to introduce four new meme markets on Arbitrum:

🔹 MEW/USD, FLOKI/USD, MEME/USD and BOME/USD

Users can now trade these perpetual swap contracts while enjoying GMX's self-custody, deep liquidity and blazing-fast onchain execution.

———

Exec Summary:

• GMX lists MEW, FLOKI, MEME and BOME perpetual swaps up to 50x

• All four meme markets have been added to GLV [BTC-USDC], to auto-optimise their liquidity

• Mint GLV now, to provide liquidity on GMX and earn with maximum capital efficiency

• Chainlink Data Streams supply low-latency price feeds for all four assets

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1859680772174856616

Read the full launch announcement on the GMX News blog:

👉 https://gmxio.substack.com/p/gmx-launches-mew-floki-meme-and-bome

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

All AVAX incentives have been distributed

tBTC incentives have been distributed

🫐 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

🫐 Governance

Two Votes are up! Get your votes in!

• Proposal to Transfer USDC and GMX tokens to GMX-Solana for Initial Liquidity Provision

https://snapshot.org/#/gmx.eth/proposal/0xd20c6ae56a9a1ee5b9cc3d4e55446fc38c33536442c7acc2ed87264db7021629

• Proposal for Committee Payments

https://www.tally.xyz/gov/gmx/proposal/96080798840969062126413597776778196009082499671977414853056931138941446943176

The GMX DAO has recently elected committees for Governance, Listing, and Security to support these critical functions in the GMX ecosystem. A related Governance proposal is now live on Tally:

🔸 "Proposal for GMX Committee Payments"

Please vote now: https://tally.xyz/gov/gmx

_____

Announcement on X: https://twitter.com/GMX_IO/status/1859247821880274995

For extra safety and to be sure that the migration to the new contracts will work smoothly for the subgraphs and interface, additional testing is continuing to be done

Due to this, the keepers will be switched to using the new contracts only on 25 Nov 2024

The existing GMX V2 contracts will be disabled on 4 Dec 2024 instead

Apologies for any inconvenience caused

Feedback has been received about the high funding rates on the GMX/USD market

To help adjust the funding rate, Chaos Labs has recommended turning on the fundingDecreaseFactor for the GMX/USD market

With this factor enabled, the funding rate for the GMX/USD market will decrease at a rate of 40% per day if the long / short balance is within a 2% threshold, for example, if long / short balance is 51% / 49%, and current funding rate is 80% per year, then it would decrease to 40% per year after 24 hours, the funding rate will decrease towards the minimum funding rate of 20% per year

Note that the numbers above are examples based on the current configurations, the actual configurations can change based on the recommendations from Chaos Labs

A new Governance proposal is currently live on Snapshot:

🔸 "Proposal to Transfer USDC and GMX tokens to GMX-Solana for Initial Liquidity Provision"

Tokenholders, please consider the proposal and cast your vote now: https://snapshot.org/#/gmx.eth

_____

Announcement on X: https://fxtwitter.com/GMX_IO/status/1858830094380204540

🫐 GMX Arbitrage Bot

Community members who want to experiment with funding rate farming on GMX, can now find a frontend for the open-source Arbitrage Bot at https://fundingratesniper.com

More info:
https://x.com/GMX_IO/status/1856378658589474992
https://www.fundingratesniper.com/about
https://t.me/+ualID7ueKuJjMWJk

_____________

🫐 Avalanche Boost continues

A new epoch has started: trade on Avalanche and benefit from a ~75% trading fee discount! GM liquidity providers receive a big 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

_________

🫐 GMX Ecosystem Tweets

GMX launches a market for TAO/USD from Bittensor: https://x.com/GMX_IO/status/1858525605714694156

GMX launches BONK & WLD perpetual swap markets: https://x.com/GMX_IO/status/1857417095585186065

This week’s impressive protocol metrics: https://x.com/GMX_IO/status/1858484571450310900

Michi community gets its first taste of GMX-Solana: https://x.com/SniperMonke01/status/1858110017561350200

Here’s everything you need to know about GMX in one thread: https://x.com/the_smart_ape/status/1857106251315908667

This week’s community-curated news from the GMX ecosystem: https://x.com/BlueberryPulse/status/1857540400875188282

GMX Blueberry Club launches a monumental update: https://x.com/findGBC/status/1857438256096244175

GMX launches a new perpetual swap market on Arbitrum:

🔸 TAO/USD

Trade the TAO token from Bittensor directly from your own wallet, and benefit from GMX's deep liquidity and unrivalled onchain execution speed.

___

Market Details for LPs & Traders:

The new TAO/USD perpetual futures market allows GMX users to trade the Bittensor token with up to 50x on Arbitrum.

This is a synthetic market, which is supported by an underlying BTC/USDC liquidity pool. This means that liquidity for the TAO market is provided in the form of BTC or USDC. And liquidity providers in the GM: TAO/USD pool hold an approximately 50/50 mix of both assets, while earning pool fees.

The TAO/USD has been integrated into GLV [BTC-USDC], the auto-optimising GMX Liquidity Vault. This ensures that liquidity can always meet trading demand, as GLV dynamically allocates its liquidity to the markets with the highest utilisation.

______

Announcement on X:

✅ https://fxtwitter.com/GMX_IO/status/1858525605714694156

🫐 GMX Development

• The ExchangeRouter and GlvRouter contracts have been re-deployed. Please follow @GMX_Technical_Announcements for more details.

• Improvements in pool selector on trade page

• BONK & WLD are listed

• Various UI improves

_____


Community members who want to experiment with funding rate farming on GMX, can now find a frontend for the open-source Arbitrage Bot at https://fundingratesniper.com

More info:
- https://x.com/GMX_IO/status/1856378658589474992
- https://www.fundingratesniper.com/about
- https://t.me/+ualID7ueKuJjMWJk

_____

🫐 GMX Governance

The Snapshot vote for the “Updating Liquidation Mechanics on GMX V2” proposal has now closed, with the community in favour.

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

_____

🫐 Avalanche Boost continues

A new epoch has started: trade on Avalanche and benefit from a ~75% trading fee discount! GM liquidity providers receive a big 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

_____

🫐 GMX Ecosystem Tweets

Record trading volume and Open Interest on GMX: https://x.com/GMX_IO/status/1857038493186244807

GMX launches BONK & WLD perpetual swap markets: https://x.com/GMX_IO/status/1857417095585186065

On a mission to create the deepest, fairest markets on-chain: https://x.com/coinflipcanada/status/1857103656048345092

Pre-register now for a GBC ID from the GMX Blueberry Club and unlock exclusive rewards: https://x.com/findGBC/status/1856331364695716077

Vote for the next GM strategy on money market Dolomite: https://x.com/Dolomite_io/status/1857528752894521468

All-time high rewards for Goldlink’s GMX funding rate farming strategy: https://x.com/goldlinkfinance/status/1857518127497859509

Did you know GMX is a top-20 crypto business in terms of earnings?: https://x.com/Jonas_ALA/status/1856679943859564997

GMX introduces two new perpetual swap markets:

🔸 BONK/USD
🔸 WLD/USD

Go Long or Short on the popular Bonk_inu and Worldcoin tokens directly from your own wallet, taking advantage of GMX's fast onchain execution.

______

Market Details for LPs & Traders:

The markets are synthetic perpetual swaps; they track the price of BONK and WLD, but are supported by GM liquidity pools that do not contain these assets.

Both BONK/USD and WLD/USD are backed by [WETH-USDC] liquidity pools, which have also been added to GLV [WETH-USDC].

By adding these markets to the GMX Liquidity Vault, liquidity automatically shifts to these pools to meet trader demand. This unique mechanism enables GLV to effectively support numerous synthetic markets simultaneously. It simultaneously optimises capital efficiency for GLV liquidity providers.

Low-latency price feeds for the two assets are supplied by Chainlink Data Streams; the leading low-latency oracle solution optimised for Perp DEXes.

Trade the new markets on Arbitrum, or mint GLV to earn from the top-performing pools on GMX automatically:

✅ http://app.gmx.io

______

Announcement on X: https://fxtwitter.com/GMX_IO/status/1857417095585186065

The ExchangeRouter and GlvRouter contracts have been re-deployed

ExchangeRouter: re-deployed to include simulateExecuteLatestShift function https://github.com/gmx-io/gmx-synthetics/commit/70254e3014ecca0ad0a5a85648f295f5f7ff068d

GlvRouter: re-deployed to use the correct GlvHandler, previous GlvRouter was using a GlvHandler that did not have the necessary roles

The new contracts will be enabled on 18 Nov 2024, please use the updated addresses then: https://github.com/gmx-io/gmx-synthetics/pull/78/files

To allow more time for this change, the timeline will be updated to:

20 Nov 2024: Keepers will be switched to use the new handlers, the callback function params will change on this date

27 Nov 2024: The existing GMX V2 contracts will be disabled

User numbers and trade volume on GMX are soaring. Meanwhile, a new epoch of the GMX Boost campaign starts today on #Avalanche:

Benefit from huge fee rebates, or boosted rewards for providing liquidity — including on the single-sided AVAX, BTC and ETH pools!

______

Announcement on X: https://fxtwitter.com/GMX_IO/status/1856814634688205087

Campaign details: https://gmxio.notion.site/GMX-Summer-Boost-trade-perpetuals-or-provide-liquidity-to-grab-your-share-of-AVAX-rewards-13638f2e28934460a242f72def4f7d36?pvs=74

Interested in experimenting with funding rate farming on GMX?

You can now find a simple frontend for the Arbitrage Bot developed by community dev 50shadesofgwei_ at:

🔸 https://fundingratesniper.com

The sheets from the recent educational Workshop on Arbitrage Bots and Funding Farming are also available to all who are interested. They offer additional context.

You can download them from Google Drive here:

🔸 https://drive.google.com/file/d/1OrXrNyPQhJU1jNcDpGrvb9tBXAc9uu6V/

🫐 GMX Governance

A new Snapshot vote is Live: “Updating Liquidation Mechanics on GMX V2”:

https://snapshot.org/#/gmx.eth/proposal/0x7fab954a53128625d268bda1175f15f58c59eebe6e9518815facff86830b9097

DAO Proposal: “Enhancing Fairness in the GMX Referral System”:

https://gov.gmx.io/t/gmx-enhancing-fairness-in-the-referral-system/3764/15

_____________

🫐 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

_________

🫐 GMX Ecosystem Tweets

GLV is offering market-leading yield and very high capital efficiency: https://x.com/Jonas_ALA/status/1854523141516636565

A lot of updates were completed by the GMX devs recently: https://x.com/GMX_IO/status/1854905712612085988

TVL of all single-asset pools now officially exceeds $100 million: https://x.com/citizenofgmx/status/1855364793101582464

Dolomite boasts over $19M+ in TVL across its various GM Assets: https://x.com/Dolomite_io/status/1854886641435132297

This week’s impressive GMX protocol metrics: https://x.com/GMX_IO/status/1855930745375649900

Make your idle BTC & ETH work for you with GMX’s single-sided GM pools: https://x.com/joatthegoat777/status/1856025578895286640

Tradao contributes $400M in volume to GMX with its social trading platform: https://x.com/Tradaoperp/status/1855659305007239289

Please cast your vote on the latest GMX Governance snapshot!

Updating Liquidation Mechanics on GMX V2
https://snapshot.org/#/gmx.eth/proposal/0x7fab954a53128625d268bda1175f15f58c59eebe6e9518815facff86830b9097

🫐 GMX Development

• Updated PEPE, SATS and SHIB tokens to kPEPE, mSATS and kSHIB

• TON and TRX markets are now options for traders and liquidity providers

• Various UX enhancements and fixes

Read here for more information on recent updates that have happened over the past few weeks: https://fxtwitter.com/GMX_IO/status/1854905712612085988

_____

🫐 GMX Governance

Proposal to Transfer USDC and GMX to GMX-Solana for Initial Liquidity Provision:

https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040

_____

🫐 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

_____

🫐 GMX Ecosystem Tweets

GMX is delighted to bring GMX-Solana to the SOL ecosystem with the help of Chainlink Data Streams: https://x.com/GMX_IO/status/1852326192042426556

Liquidity providers should move from GM to GLV, to benefit from optimised performance: https://x.com/tanoeth/status/1852382553895829985

Fees from altcoin markets now outpace the fees from ETH+BTC on GMX: https://x.com/DefiMoon/status/1853505689462985211

Two weeks after the launch of BB&D, we can already see preliminary data:
https://x.com/citizenofgmx/status/1854801724688461869

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

🔸 Achieved major improvements in optimising dApp performance, speeding up load times by 2.5x.

🔸 Worked with the GMX-Solana contributors on the next steps for bringing GMX to the Solana blockchain, including partnering with Chainlink Data Streams and starting the code audit

🔸 Created new markets for traders and pools for liquidity providers: APE, SEI, SUI, APT, TIA, POL, TON and TRX

🔸 Introduced BB&D, with the protocol transitioning to GMX token repurchases and staking rewards being received in GMX tokens rather than ETH/AVAX

🔸 Introduced Take-Profit and Stop-Loss orders on GMX automatically cancelling when the position they're linked to is fully closed

🔸 Polished the GLV dashboard and optimised the GLV vault balancing, asset caps, and liquidity shift frequency

🔸 Improved the Trade-box and Earn & Pool pages with minor UI changes and optimisations

🔸 Switched to an updated Chainlink data feed for wstETH, updating the configs for the wstETH markets and removing the 1% sell fee introduced to prevent toxic flow

______

See the thread on X for additional info about these various updates: https://fxtwitter.com/GMX_IO/status/1854905712612085988

GMX introduces TON and TRX perpetual swap markets

Exec. Summary:

• GMX lists TON/USD and TRX/USD perpetual swaps

• TON/USD and TRX/USD GM pools added to GLV [WETH-USDC]

• Mint GLV now to provide liquidity on GMX with optimal capital efficiency

• Low-latency price feeds for TON & TRX are provided by Chainlink Data Streams

———

Read the full launch announcement on the GMX News blog:

https://open.substack.com/pub/gmxio/p/gmx-introduces-tonusd-and-trxusd?r=1zs4e0&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true

Announcement on X: https://x.com/GMX_IO/status/1854558062436393035

Starting Now!

X Space: "The Future of Yield on Arbitrum, hosted by Vaultka!"

Featuring GMX, Arbitrum and Chainlink

Listen in > https://x.com/i/spaces/1dRJZdAngvoKB

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

AVAX incentives last week and this week have been distributed

tBTC incentives continue for the tBTC-BTC pool

🫐 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

🫐 GMX Governance

Proposal to Transfer USDC and GMX to GMX-Solana for Initial Liquidity Provision:

https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040

🫐 GMX Development

GMX has switched to an updated Chainlink data feed for wstETH, which is performing well. The configs for the wstETH/WETH and wstETH/USDe markets have now been updated and the 1% sell fee, introduced to prevent toxic flow and harm to LPs, has been lowered.

New Take-Profit and Stop-Loss orders on GMX will now be automatically cancelled when the position they're linked to is fully closed.

_____________

🫐 GMX Governance

Proposal to Transfer USDC and GMX to GMX-Solana for Initial Liquidity Provision:

https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040

_____________

🫐 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

The previous week of rewards have been delayed and will be distributed along with the current weeks.
_____________

🫐 GMX Ecosystem Tweets

GMX is delighted to bring GMX-Solana to the SOL ecosystem with the help of Chainlink Data Streams: https://x.com/GMX_IO/status/1852326192042426556

Liquidity providers should move from GM to GLV, to benefit from optimised performance: https://x.com/tanoeth/status/1852382553895829985

This week’s GMX protocol metrics: https://x.com/GMX_IO/status/1853374263492825568

Fees from altcoin markets now outpace the fees from ETH+BTC on GMX: https://x.com/DefiMoon/status/1853505689462985211

Open Interest on GMX is rising rapidly: https://x.com/SniperMonke01/status/1853519179783291164

🫐 GMX Development

• GMX buy back and distribute has been implemented, 30% of GMX V1 fees and 27% of GMX V2 fees are allocated to buy back GMX tokens for distribution. Follow along with the @GMXBuyBacks bot created by @SniperMonke01 on telegram.

• New Take-Profit and Stop-Loss orders on GMX will now be automatically cancelled when the position they're linked to is fully closed.

• GMX introduced two new perpetual swap markets:

• TIA/USD (from Celestia)
• APT/USD (from Aptos)

• GMX has achieved significant improvements in optimizing the dApp performance recently; particularly speeding up load times by 2.5x.
_____________

🫐 GMX Governance

Proposal for Payment for GMX-Solana Audit

https://gov.gmx.io/t/payment-for-gmx-solana-audit/4030

_____________

🫐 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

_________

🫐 GMX Ecosystem Tweets

GMX is delighted to bring GMX-Solana to the SOL ecosystem with the help of Chainlink Data Streams: https://x.com/GMX_IO/status/1852326192042426556

Staking reward distribution in GMX tokens is now live: https://x.com/GMX_IO/status/1851619151061606449

TP & SL orders on GMX now auto-cancel when the linked position is closed: https://x.com/GMX_IO/status/1851952013661163629

This week’s GMX protocol metrics: https://x.com/GMX_IO/status/1850958712850247902

This week’s community-curated GMX news: https://x.com/BlueberryPulse/status/1851739095141060828

Halloween marks the return of the GMX Blueberry Club: https://x.com/findGBC/status/1851989298423226792

GMX launches synthetic markets for TIA & APT: https://x.com/GMX_IO/status/1852036716711825704

GLV offers many advantages for liquidity providers: https://x.com/tanoeth/status/1852382553895829985

GMX introduces two new perpetual swap markets:

🔸 TIA/USD (from Celestia)
🔸 APT/USD (from @Aptos)

Go Long or Short on the TIA or APT token with lightning-fast onchain execution straight from your self-custody wallet; no deposit required!

---

These new markets are synthetic perpetual futures, supported by underlying WETH-USDC liquidity pools. Both GM pools have also been added to GLV [WETH-USDC], the innovative GMX Liquidity Vault.

By adding these markets to the GMX Liquidity Vault, liquidity will automatically shift to these pools to meet trader demand. This unique mechanism allows GLV to support numerous synthetic markets simultaneously.

GLV can be viewed as an enhanced version of the GLP pool from GMX V1. It acts as an index of GM pools, dynamically rebalancing its liquidity to the best-performing pools, thereby generating fees from all of them. Consequently, GLV offers liquidity providers a balanced product with stable risk-adjusted returns and optimal capital efficiency.

Trade the new markets on Arbitrum, or purchase GLV to automatically earn from the top-performing pools on GMX!

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1852036716711825704

New Take-Profit and Stop-Loss orders on GMX will now be automatically cancelled when the position they're linked to is fully closed.

You can disable this feature in the Settings menu, if you wish.

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1851952013661163629

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

AVAX incentives for this week have a slight delay and will be distributed as soon as possible.

🫐 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

tBTC incentives continue for the tBTC-BTC pool

https://gmxio.substack.com/p/gmx-launches-a-btc-usd-market-backed

GMX Development:

Reward distribution in GMX tokens is now live! This completes the transition from the previous model based on ETH rewards to the new "Buyback and Distribute GMX" model.

🔸 The first distribution of rewards in GMX tokens just took place today.

🔸 30% of GMX V1 fees and 27% of GMX V2 fees are allocated to buy back GMX tokens for distribution.

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1851619151061606449

Reward distribution in GMX tokens is now live! This completes the transition from the previous model based on ETH rewards to the new "Buyback and Distribute GMX" model.

🔸 The first distribution of rewards in GMX tokens just took place today.

🔸 30% of GMX V1 fees and 27% of GMX V2 fees are allocated to buy back GMX tokens for distribution.

🔸 The buyback process allows anyone to deposit GMX tokens in exchange for the currently pending fees. For more details, visit: https://github.com/gmx-io/gmx-synthetics/blob/main/contracts/fee/FeeHandler.sol


For details of the proposal that received majority support from the GMX DAO, please refer to Tally:

> https://www.tally.xyz/gov/gmx/proposal/81921330482579592877925554009800798217173652653143694483196169672340561914053

———

Announcement on X: https://fxtwitter.com/GMX_IO/status/1851619151061606449

GMX-Solana — the community-driven sister project that is bringing GMX V2 to Solana — is adopting Chainlink Data Streams as its data oracle solution. This integration will provide @GMX_Solana with on-demand access to high-frequency market data backed by battle-tested, decentralised infrastructure.

The soon-to-launch GMX-Solana Perp DEX will utilise Data Streams on Solana to help secure execution prices, funding rate calculations, liquidations, and other features that require robust, low-latency market data.

-----

GMX-Solana is an extension of GMX on the Solana blockchain, dedicated to providing traders with an efficient, transparent, and decentralised platform for perpetual trading. It aims to achieve the trinity of decentralised leverage trading:

🔸 Barrier-free creation of markets and pools
🔸 Barrier-free utilisation of advanced trading strategies
🔸 Barrier-free entry into market-making

GMX-Solana will support hundreds of assets, democratised liquidity provision through GLV, an innovative Trade-to-Mint economic model, and unrivalled execution speed — enabling highly-performant self-custody trading without intermediaries.

Learn more on the GMX News blog:

👉 https://open.substack.com/pub/gmxio/p/gmx-solana-adopts-chainlink-data

______

Announcement on X: https://vxtwitter.com/GMX_IO/status/1851022044949045382

🫐 GMX Development

Following the vote from the GMX DAO and the successful passing of the Buyback GMX and Distribute GMX proposal:

https://www.tally.xyz/gov/gmx/proposal/81921330482579592877925554009800798217173652653143694483196169672340561914053

Today, all users will be transitioned to the new staking structure, which will allow rewards to be received in GMX tokens.

Starting Wednesday, 30 October 2024, rewards will be distributed in GMX tokens.

Additionally, GMX token buybacks have now been enabled.

For more information, please follow: @GMX_Technical_Announcements

_____________

🫐 GMX Governance

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/

_____________

🫐 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

_________

🫐 GMX Ecosystem Tweets

The GMX dApp now loads 2.5 times faster: https://x.com/GMX_IO/status/1849836033233359171

GMX launches an asset-backed market for APE: https://x.com/GMX_IO/status/1849793373080530953

GMX launches synthetic markets for SUI & SEI: https://x.com/GMX_IO/status/1849501130092351692

New SUI market on GMX is driving record trading volumes: https://x.com/tanoeth/status/1850812305631576315

Comparing the TVL/FDV ratio of the top Perp DEXes, GMX stands out: https://x.com/c_talley777/status/1850632662634897552

_________

🫐 Recent events with GMX

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

The old GMX RewardRouters have been disabled, all users will be migrated to the new staking structure today to allow rewards to be received in GMX tokens

Rewards will be distributed in GMX tokens starting from this coming Wednesday, 30 Oct 2024

Note that GMX token buybacks have also been enabled

As fees accumulate in GMX V1 and V2, any user can call the claim and buyback function to swap the pending fees for WETH / WAVAX / GMX based on the appropriate ratios and based on the configured buyback batch size

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

🫐 GMX Development / Rewards

• New GM Markets: APE, SUI, SEI

Please follow GMX Technical Announcements for more detailed updates

@GMX_Technical_Announcements
_____________

🫐 GMX Governance

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 ended, with tokenholders in favour: https://gov.gmx.io/t/new-asset-listings-sui-tia-trx-apt-sei-ton-bonk-wld/3968

_____________

🫐 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

_________

🫐 GMX Ecosystem Tweets

The GMX dApp now loads 2.5 times faster: https://x.com/GMX_IO/status/1849836033233359171

Guardian will serve on the GMX Security Council: https://x.com/GuardianAudits/status/1849194235893104907

GMX launches an asset-backed market for APE: https://x.com/GMX_IO/status/1849793373080530953

GMX launches synthetic markets for SUI & SEI: https://x.com/GMX_IO/status/1849501130092351692

_________

🫐 Recent events with GMX

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

GMX has achieved significant improvements in optimizing dApp performance recently, including:

🔸 Faster loading times for positions
🔸 Quicker retrieval of market data
🔸 Reduced time for chart candles to display
🔸 Improved JavaScript execution speed

Overall, the responsiveness and speed of the user interface — especially on the trade page — have been notably enhanced, resulting in load times that are now 2.5 times faster!

The reliability of reading RPC data for displaying information in the interface has also dramatically increased, along with its speed.

The attached graphic illustrates the striking improvements in page load times:

———

Announcement on x: https://vxtwitter.com/GMX_IO/status/1849836033233359171

GMX has launched a new market:

🔸 APE/USD

Trade APE perpetual swaps or spot, while benefitting from GMX's self-custody and fast onchain execution!

Learn more about this asset-backed market on the GMX News blog: https://gmxio.substack.com/p/gmx-launches-apeusd-market-on-arbitrum

———

Announcement on x: https://vxtwitter.com/GMX_IO/status/1849793373080530953

The new GMX V2 contracts have been enabled

As the callback function parameters have changed due to the Deposit, Order and Withdrawal structs being updated, the timeline will be changed to the below instead:

18 Nov 2024: Keepers will be switched to use the new handlers, the callback function params will change on this date

25 Nov 2024: The existing GMX V2 contracts will be disabled

GMX is launching two new synthetic markets:

🔸 SUI/USD
🔸 SEI/USD

Go Long or Short on the popular SUI and SEI tokens directly from your self-custody wallet, and take advantage of GMX's rapid onchain execution.

---

Both markets are synthetic perpetual swaps, facilitated by underlying WETH-USDC liquidity pools. These two GM pools are also included in GLV [WETH-USDC], the new GMX Liquidity Vault.

By adding these markets to the GMX Liquidity Vault, liquidity will automatically shift to these pools to meet the demand from traders. This unique rebalancing mechanism enables $GLV to effectively support numerous synthetic markets simultaneously.

Continue reading on X: https://vxtwitter.com/GMX_IO/status/1849501130092351692

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

New Proposals 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
_____________

🫐 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

tBTC incentives continue for the tBTC-BTC pool

https://gmxio.substack.com/p/gmx-launches-a-btc-usd-market-backed

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
_____________

🫐 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

_________

🫐 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

_____________

🫐 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

_____________

🫐 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.

———

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

_____

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

_________

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

_____________

🫐 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

_________

🫐 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

_____________

🫐 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

_____________

🫐 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

___

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.

___

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

——

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