GMX v2 Liquidity Reaches $350 Million Across Arbitrum and Avalanche

**Cloudflare experienced degraded capacity** affecting connections to the main GMX trading interface at [app.gmx.io](https://app.gmx.io/). The incident has been **resolved according to Cloudflare**, though some users may have experienced slow or failed connections during the outage. **GMX protocol remains fully operational** - the underlying infrastructure was not affected by the frontend connectivity issues. Users can access the **backup frontend** at [gmxalt.io](https://gmxalt.io/) if they encounter any connection problems with the main site. This follows GMX's recent domain transfer to Cloudflare for enhanced security measures.

**GMX has democratized liquidity provision** with over 30,000 users holding LP tokens across its decentralized exchange protocol. **Three Revenue Streams Available:** - Spot swaps - Perpetual trading fees - Market-making activities **Strong Performance Metrics:** - GM liquidity providers earn **63% of all trading fees** - Lower impermanent loss compared to traditional AMMs - Consistently outperform benchmark LP positions **Example: LINK/USD Market on Arbitrum** - $11.2M liquidity at ~90% utilization - 25.23% Fee APR this month - Additional 6.72% APR vs benchmark over 3 months GMX V2 maintains balanced open interest through incentives and an Adaptive Funding mechanism, limiting LP exposure to trader PnL while keeping it generally positive long-term. [View Pools](https://app.gmx.io/#/pools) | [LP Analytics Dashboard](http://dune.com/gmx-io/v2-lp-dashboard)

**GMX attracts over 14,000 liquidity providers** earning from three revenue streams: market-making, swaps, and borrowing fees. **SOL/USD pool performance highlights:** - $11M in liquidity at ~90% utilization - **32.52% Fee APR** over the last month - Extra **38% APR** above benchmark (corrected from initial 3.8%) - Significantly outperforming JLP **Key advantages for liquidity providers:** - Receive **63% of all trading fees** - Lower impermanent loss vs typical AMMs - Consistently outperform benchmark LP positions - Limited exposure to trader P&L due to balanced Open Interest **GMX V2 features:** - Balanced Open Interest through LP/trader incentives - Adaptive Funding mechanism - Generally positive long-term returns Users can bridge SOL tokens to Arbitrum via PortalBridge and deposit directly into the [SOL/USD pool](https://app.gmx.io/#/pools/details?market=0x09400D9DB990D5ed3f35D7be61DfAEB900Af03C9). Analyze performance data on the [GMX V2 LP Analytics Dashboard](http://dune.com/gmx-io/v2-lp-dashboard).

**GMX liquidity providers gain new borrowing options** as Radiant's money market now accepts GLV tokens as collateral. **Key developments:** - GLV [WETH-USDC] and GLV [BTC-USDC] tokens now eligible for collateral use - **~$60 million in liquidity** unlocked for GMX V2 LPs - Enhanced capital efficiency for existing liquidity positions **What this means:** GMX V2 liquidity providers can now **borrow against their positions** without withdrawing from pools, maximizing capital utilization across DeFi protocols. This follows Venus Protocol's similar integration of GM tokens, showing **growing institutional acceptance** of GMX liquidity tokens as valuable collateral assets.

GMX rolled out significant platform improvements this summer across multiple fronts. **Key Developments:** - **GMX Express** launched with gasless, interruption-free onchain trading experience - **16 new markets** added including AERO, BRETT, KAS, OKB, CVX, HBAR, CRO, ALGO, SPX6900, MNT, PUMP, XMR, MOODENG, PI, CRV, and DOLO - **Distribution completed** for Arbitrum GLP holders affected by previous vulnerability - **Educational expansion** with GMX Perpetuals Trading course now live on Updraft platform **Platform Expansion:** - **US stocks and ETFs** now available on GMX-Solana including SPY, QQQ, AAPL, NVDA, TSLA, AMZN, GOOGL, MSFT, META, and MSTR - **Botanix deployment** brings GMX to Bitcoin L2, enabling Bitcoin-native leverage trading - **New order types** including TWAP orders alongside existing Stop Market orders These updates expand GMX's trading capabilities across multiple chains while improving user experience through gasless transactions and educational resources. Join [GMX Telegram](https://t.me/GMX_IO) or [Discord](https://discord.gg/H5PeQru3Aa) for more details.