GMX Development Update

GMX has officially launched on **MegaETH**, the fastest EVM blockchain, enabling users to: - Trade BTC, ETH & SOL perpetuals permissionlessly - Earn yield by providing $USDM to GMX's new **stablecoin-only GLV vault** - Create referral codes and invite friends to earn rewards The GLV [USDM/USDM] vault offers three revenue streams: - Perpetual trading fees - Swap fees - Buy/sell fees on liquidity tokens MegaETH is described as the "first real-time blockchain," with GMX prioritizing stability first before implementing additional speed optimizations. [Create your referral code](https://x.com/GMX_IO/status/20385722579922004083/3)

GMX has redesigned its referrals page to provide clearer insights for both traders and affiliates. **Key Updates:** - **Traders Tab**: Now displays your active referral code and all earned discounts in one place - **Affiliates Tab**: Provides detailed breakdown of referred trading volume, number of traders, and rewards earned over time The platform notes that top affiliates have earned millions through the referral program, with rewards accumulating from every trade made using their code. Learn more: [GMX Affiliates Program](https://app.gmx.io/#/referrals/affiliates)

GMX has introduced a new **XAUT/USD perpetual market** for trading Tether Gold with up to **25x leverage**. **Key Features:** - Available across **six blockchains**: Arbitrum, Ethereum, Base, BNB Chain, Solana, and Avalanche - Backed by **BTC-USDC liquidity**, allowing traders to use Bitcoin as collateral - Enables simultaneous exposure to both gold and Bitcoin price movements This synthetic perpetual contract expands GMX's asset offerings beyond traditional crypto markets. The cross-chain functionality allows users to trade from their preferred network while settling on Avalanche. The market uses XAUT, Tether's gold-backed token where each token represents physical gold reserves. Two liquidity pools support trading: a single-asset XAUT pool and a dual-asset XAUT-USDT pool. Traders can now access precious metals exposure while maintaining crypto collateral positions.

**GMX Q3 financial report** now available on Binance Square, published by data analytics platform TokenTerminal. The report provides insights into the **decentralized exchange protocol's performance** during the third quarter. - GMX operates on Arbitrum and Avalanche networks - Offers yield opportunities for token holders - Report accessible through [Binance Square](https://www.binance.com/en/square/post/33454137963122) TokenTerminal specializes in **crypto project analytics** and financial data compilation. Check the full report for detailed metrics and performance analysis.

**GMX accelerates multichain expansion** in Q4, bringing its decentralized trading infrastructure to major networks including: - Base - BNB Chain - Ethereum Mainnet - Additional EVM chains The protocol maintains its **core value proposition**: - Decentralized infrastructure - Oracle-based pricing reliability - Transparent, fair markets **Key improvements** include UX optimizations and horizontal scaling without liquidity fragmentation. With over **$330 billion in trading volume** from 728,000+ users, GMX's expansion preserves decentralization while scaling sustainably across the ecosystem.