GMX

**GMX has reduced trading fees on its GOLD/USD and SILVER/USD perpetual markets to institutional-grade levels.** - Trading fees now **1-2 basis points** during CME market hours on Arbitrum - When contributing to open interest balance: **2 bps total** for opening and closing positions - When adding to skew: **4 bps** The 24/7 precious metals markets are listed under the RWA category and searchable by name (GOLD, SILVER) or ticker (XAU, XAG). Markets crossed **$10M in volume within 24 hours** of launch. **Key features:** - Powered by [Chainlink Data Streams](http://app.gmx.io) with sub-second latency - Accessible cross-chain via GMX Account - No brokerage account or custody required More commodities and asset classes under evaluation. [Trade on GMX →](http://app.gmx.io)

**Key Changes for Metals Traders:** - **Liquidation threshold tightens** from 200x to 100x during off-hours - Positions exceeding the cap **cannot be increased**, only reduced - Thresholds **return to normal** when regular trading hours resume **Action Required:** Traders should manage position sizes before CME close if operating near maximum leverage to avoid restrictions. **Trading Parameters:** - GOLD/USD and SILVER/USD offer up to **100x leverage during CME hours** - **25x leverage cap** applies outside standard hours - Standard fee rates apply during off-hours - Powered by sub-second Chainlink Data Streams pricing - No expiry dates, self-custody maintained [Full details](https://docs.gmx.io/docs/trading/overview/#rwa-and-commodity-markets)

The GMX DAO acquired **18,650 GMX tokens** for approximately **$110,000** between April 8-14, 2026, at an average price of **$5.90 per token**. **Program Totals (March 5 - April 14):** - 124,420 GMX tokens reacquired - Total investment: ~$790,000 - Blended average price: $6.35 The buyback program shows the DAO's ongoing commitment to token value management, with the latest purchase coming in below the program's average price point.

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.