GMX

GMX has announced the start of the second one-week trading contest for the #EIP4844 upgrade on Arbitrum, with a prize pool of 140,000 ARB tokens. Winners of the first contest will receive their earned prizes soon. Additionally, GMX has launched new perpetual and spot trading markets for OP (Optimism), AVAX (Avalanche), ATOM (Cosmos), NEAR, and AAVE tokens on its Arbitrum V2 platform. Liquidity providers to these new markets are incentivized with rewards in ARB tokens. GMX V2 traders also benefit from up to 75% rebates on trading fees. The launch of these new markets and trading contests coincides with the Ethereum #EIP4844 upgrade, which reduces gas costs on Arbitrum and GMX.

The GMX decentralized exchange protocol, powered by dappOS V2, has attracted over 30,000 new traders, fueling significant growth in its user base. The platform offers risk-free trading with 'all in' vouchers and currently provides an annual percentage rate (APR) of up to 22% for its GLP token on the Avalanche ecosystem. The GMX team hints at more exciting developments on the horizon, encouraging users to stay tuned.

GMX, a decentralized exchange protocol operating on Arbitrum and Avalanche, has announced plans for a series of special community spaces leading up to the launch of its Genesis product. The first of these spaces will feature a discussion with @coinflipcanada on the @GMX_IO Twitter account tomorrow. GMX's utility and governance tokens, GMX and GLP, offer attractive annual percentage rates of 13% and 21% respectively for users on the Arbitrum and Avalanche ecosystems.

GMX, a decentralized exchange protocol deployed on Arbitrum and Avalanche, has announced the launch of its vaults on Aura. These vaults offer up to 60% annual percentage yield (APY) on GMX assets through a variety of different vaults, allowing users to diversify their yield. The vaults have no lock-up period, are secured and audited, and deposits are recorded, making depositors eligible for a future PRFCT token airdrop.

The capacity has been increased to 2,000,000 with Theseus Vault TVL currently at 990K.

Trading volume on #GMXv2 has surged past $25 billion USD, with over $2.88 billion traded in the V2 markets in the last week. Providing features like self-custody, deep liquidity, and fast execution, GMXv2 offers an optimized on-chain trading experience.

GMX is giving away 500 $ARB tokens in a lottery style to the next 200 new GMX_IO v2 users on Rage. To enter, users need to execute a trade on GMX v2 via Rage. The giveaway starts on 5th March 2024 at 15:00 UTC.

A proposal to add GMX's BTC $GM pool token to Aave V3 on Arbitrum has been implemented. This move highlights the significance of GM tokens as prime #DeFi collateral, enabling LP's to borrow against their $172M of gmBTC.

GMX_IO's 5th Fluid Trading Contest is set to run from March 3rd to March 16th, featuring a total prize pool of $35,000. Participants earn points based on trading volume and profit percentage, with no risk of losing points due to liquidations. The contest includes three volume categories - Crustaceans, Dolphins, and Whalers, each with varying prize pools. Traders of all sizes are encouraged to participate to be rewarded for both trading volume and profitability.

GMX V2 was launched six months ago with several improvements including One-Click Trading, new markets to trade, Chainlink Data Streams, Adaptive Funding Rates, and Price Impact Distributions. These updates aim to enhance the trading experience, speed, scalability, and pool yields on GMX. The long-term vision for GMX is to become a decentralized finance ecosystem.