GMXv2 Launches Arbitrum Grant Incentives

**GMX's commodity markets are seeing significant adoption**, with $WTIOIL recording approximately $39 million in trading volume in a single day. **Key highlights:** - $WTIOIL now ranks as the third-largest market on GMX, trailing only Bitcoin and Ethereum - Five commodity perpetuals are now live: gold, silver, WTI crude oil, Brent crude oil, and natural gas - Markets operate with low fees and remain accessible even on weekends - Price data is delivered through [Chainlink Data Streams](https://chain.link) The platform enables **permissionless access to commodity trading onchain**, allowing users to trade traditional commodities through decentralized infrastructure at scale. This marks a notable expansion of DeFi beyond crypto-native assets into traditional financial markets.

**GMX DAO's Latest Buyback Activity** Between June 3-9, GMX DAO reacquired **22,480 $GMX tokens** for approximately $130,000, averaging $5.78 per token. **Program Performance Since March** - Total tokens acquired: 235,280 GMX - Total spent: ~$1,525,000 - Overall average price: $6.48 per token The latest purchase shows a **lower average cost** compared to the program's overall average, suggesting the DAO is buying during favorable market conditions. This ongoing buyback program, which began March 5, demonstrates the protocol's commitment to token value management through systematic open market purchases.

**GMX Masters Competition Opens for Early Registration** GMX has partnered with Elfa AI to launch a 4-week automated trading competition featuring: - **$15,000 USDC prize pool** for top performers - **AI-powered trading signals** provided by Elfa AI - **Live execution** on GMX's perpetual markets - Open for early sign-ups now Participants will compete by creating trading strategies that execute in real-time on GMX's decentralized perpetual trading platform. The competition combines AI-driven market signals with on-chain trade execution, allowing traders to test their strategy-building skills in a live market environment. This marks a novel approach to trading competitions in DeFi, blending artificial intelligence with decentralized exchange infrastructure.

GMX has introduced **SPCX/USD perpetual contracts**, allowing traders to gain pre-IPO exposure to SpaceX with up to 10x leverage. **Key Details:** - SPCX/USD is a **synthetic perpetual market**, not actual SpaceX equity - Does not provide shares, ownership, voting rights, dividends, or IPO allocation - Launching with **limited initial open interest capacity** as infrastructure develops - Part of GMX's expanding **real-world asset (RWA) perpetuals** offering - Post-IPO, the market will transition to an On-Hours/Off-Hours trading schedule This represents a new market category for GMX, enabling leveraged exposure to one of the world's most valuable private companies through decentralized derivatives.

GMX has announced its official sponsorship of the Arbitrum Open House in London, featuring a substantial $415,000 prize pool for participants. **Event Details:** - **Dates:** July 10-12 (in-person), with a 3-week online Buildathon starting May 25th - **Location:** London - **Focus:** DeFi perpetuals trading and builder tooling **What Participants Can Expect:** - GMX contributors will be on-site to provide hands-on guidance - Technical workshops on DeFi Perps - Access to builder tools and infrastructure - Mentoring from the Arbitrum ecosystem - Opportunity to take projects from concept to mainnet **Competition Structure:** Early-stage teams can join the online Buildathon phase before competing for prizes and potential entry into the in-person Founder House in London. Applications are now open at [openhouse.arbitrum.io](http://openhouse.arbitrum.io/?utm_source=twitter&utm_medium=social&utm_campaign=oh-london-buildathon)