GMXv2 Trading Volume Surpasses $25 Billion USD

**Stimpak** has launched a new competitive trading platform that gamifies perpetual futures trading on the GMX protocol. The platform offers two main formats: - **Head-to-head Duels** for one-on-one trading competitions - **Deathmatch tournaments** for group-based competitive trading Built on GMX's decentralized exchange infrastructure, Stimpak allows traders to compete while potentially earning prizes through their trading activities. The platform transforms traditional perpetual trading into a competitive gaming experience, targeting traders who enjoy both financial markets and competitive gameplay.

**GMX partners with Pendle** to enable yield trading on its popular single-sided ETH liquidity pool. Users can now trade yield from GMX's GM: ETH/USD pool through Pendle's platform: - **Yield Tokens (YT)** represent fees generated per GM token - **Principal Tokens (PT)** are redeemable for 1 GM at maturity (Jan 29, 2026) - Pool has **$57M+ TVL** with high yields available The integration allows liquidity providers to separate and trade their yield exposure independently from the underlying assets. **Additional GMX opportunities:** - GM: ETH/USD [WETH-USDC] pool: $105M+ liquidity - GLV: [WETH-USDC] vault: $37M+ liquidity Over 14,000 users currently provide liquidity on GMX across its permissionless pools. [Trade on Pendle](https://app.pendle.finance/trade/pools/0x358925d171380e05b12036a2bf7051704cb85fab/zap/in?chain=arbitrum) | [View GMX Pool](https://app.gmx.io/#/pools/details?market=0x450bb6774Dd8a756274E0ab4107953259d2ac5412)

**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.