GMX

GMX's $GM and $GLV tokens serve dual purposes: they function as high-yield liquidity provider positions with 50% market exposure while also acting as building blocks for delta-neutral strategies. **Key Features:** - Dolomite's money market leverages these tokens for advanced yield generation - Supports Looping and Delta-Neutral strategies across GMX's liquidity tokens - Enables traders to capture yields while minimizing directional market risk The integration allows users to construct sophisticated positions that balance exposure and returns.

The GMX DAO has launched a new governance proposal on Snapshot for community voting. **What's Being Voted On:** - GMX Marketing & Trader Incentive Program proposal - Tokenholders can cast their votes on [Snapshot](https://snapshot.box/#/s:gmx.eth/) **Recent Context:** - This follows a separate proposal from January 26 regarding GMX Labs funding for 2026-2027 - Both proposals are part of ongoing governance decisions for the protocol's development GMX tokenholders are encouraged to review the proposal details and participate in the voting process.

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 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.

**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 maintains steady token buybacks** under its Buyback & Distribute model, repurchasing over 34,500 GMX tokens in the past week. The program directly **rewards GMX stakers** through token distribution, though staking APR has declined from 31.52% to 22.14% compared to the previous week. - Current staking APR: **22.14%** - Weekly buyback: **34,500+ GMX tokens** - Previous week's buyback: 41,700 tokens The consistent buyback activity demonstrates GMX's commitment to **returning value to token holders** through its systematic reward mechanism.

**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.

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](https://arbiscan.io/address/0x7EB417637a3E6d1C19E6d69158c47610b7a5d9B3) - Avalanche: [View on Snowtrace](https://snowtrace.io/address/0x1A3A103F9F536a0456C9b205152A3ac2b3c544902)