GMX Revenue Surge Leads to Delayed Token Buybacks
GMX Revenue Surge Leads to Delayed Token Buybacks
馃 GMX Buyback Machine Overheats
GMX experienced a significant revenue increase, causing its buyback-and-distribute contract to face processing delays. The remaining balance will roll over to future weekly epochs for distribution to GMX holders.
Key points:
- Buyback process is fully transparent and verifiable on-chain
- Affects both Arbitrum and Avalanche networks
- Contract addresses:
- Arbitrum: View on Arbiscan
- Avalanche: View on Snowtrace
This week, GMX saw a large surge in revenue. Due to the timing and amount of fees collected, the GMX buyback-and-distribute contract was unable to fully complete the process. The remaining balance to be repurchased will be distributed to GMX holders in the next weekly epochs.
GMX Completes GLP Vulnerability Resolution with GLV Token Distribution
GMX has launched claims for GLP holders following the July 9th exploit resolution. The distribution includes: - ~$44M available for distribution via GLV tokens - Portfolio composition: 25% WBTC, 25% ETH, 50% stables - $2M DAO Treasury support - $500K retention incentives for GLV holders The white-hat hacker received a $5M bug bounty. GMX V2 remained operational throughout, processing billions in weekly volume. Claims are now live at [app.gmx.io](https://app.gmx.io/#/stake). GLP redemptions will be enabled in approximately 10 days.
GMX Launches Comprehensive DeFi Development Curriculum with Updraft
GMX has partnered with Updraft to release an extensive perpetuals trading curriculum, featuring over 90 lessons and 4+ hours of video tutorials. The course is taught by @ProgrammerSmart, a leading Solidity developer. Key features: - In-depth coverage of GMX's trading technology - Practical exercises and quizzes - Developer certification opportunities - Rewards for successful project completion The curriculum aims to help developers understand GMX's smart contracts and build new integrations. The course development was co-sponsored by @arbitrumdao_gov. [Start learning on Updraft](https://updraft.cyfrin.io/courses/gmx-perpetuals-trading)
GMX Launches S&P 500 Trading on Solana
GMX has expanded its synthetic perpetual futures offering to the Solana blockchain, launching S&P 500 index trading. This follows their recent launch of MNT/USD markets on Arbitrum. Key features: - Trade directly from self-custody wallets - Up to 50x leverage available - Liquidity provision options via GM pool or GLV vault - WETH or USDC accepted for LP positions The platform continues to expand its synthetic markets across multiple chains, with Arbitrum and Solana now offering index trading capabilities. Users can access these features at [app.gmx.io](http://app.gmx.io).
GMX Rolls Out Stop Market Orders and Enhanced Trading Features
GMX has implemented several key trading improvements: - Added Stop Market Orders support - Enabled chart-based drag & drop order editing - Optimized swap routing for spot and perpetual trades - Enhanced Trade UI with new dropdowns and clearer chart headers - Improved mobile experience with 24h volumes and position cards - Updated number formatting with k, m, b suffixes - Enhanced depth charts and PnL analysis - Clarified network fee calculations For feedback or support: [Telegram](https://t.me/GMX_IO) [Discord](https://discord.gg/H5PeQru3Aa) Learn more about GMX's 2025 roadmap on their [blog](https://gmxio.substack.com/p/gmx-development-plan-for-2025)