GMX

GMX has announced receiving a grant from Arbitrum Foundation to support future GBC initiatives and growth of the NFT ecosystem on Arbitrum and beyond. They express gratitude for the trust placed in them.

Theseus Vault has launched with a current APY of 51.65% and max capacity of $100,000. It offers access to AI-optimized yield and liquidity strategies by Archimedes AI. The Theseus Vault Token (MOZ-THE-LP) allows exposure to assets farmed by the AI, with Archimedes ensuring optimal exposure to price appreciation and yield. The AI also plans swaps to mitigate price volatility risks. A portfolio page is set to be released for better tracking of deposits and yield. Thanks extended to partners for making this achievement possible.

Morphex team identified an issue on their forked version of GMX v1 contracts on BNB chain and reported it to GMX. The issue is not economically exploitable and did not affect any GMX users. Morphex followed the reporting process via bug bounty platform @ImmuneFi, demonstrating a collegial approach.

Since its launch on 1 September 2021 alongside Arbitrum, GMX protocol has facilitated 3.4 million trades by over 534,000 users, resulting in a trading volume exceeding $173 billion. The protocol has also distributed $276 million in fees to its stakeholders, thanking the community for supporting DeFi.

Bitcoin is on the move as halving approaches, providing ideal conditions for leverage traders. Fluid @GMX_IO Bot has seen over $28 million in total bot volume, with $14 million in the past 2 weeks. A $25,000 prize pool is up for grabs, with various prize categories from Whalers to Crustaceans. Contestants have 24 hours left to secure their chance for prizes.

In 48 hours, total GM positions on DeltaPrime Red have increased to $6.4M in GMX Rush. The current bonus APR for borrowing in AVAX is 36% for 1x borrowed and 162% for 4.5x borrowed. Incentives are airdropped every Wednesday, starting from Feb 14.

GMX's Twitter Space AMA with @Rodeo_Finance, @D2_finance, and @CamelotDEX has been rescheduled to Thursday, February 8, at 1 PM UTC. Join to learn about ETH++, RODEO++, unique vaults, and the strong #DeFi synergy between these Arbitrum protocols.

Rainbow is partnering with GMX_IO and Treasure_DAO to reward the Arbitrum community, encouraging Ethereum users to explore the Arbitrum ecosystem. GMX users can earn extra points by trading on GMX v2 and Rainbow. A special collaboration with smolverse offers points for minting the Rainbow Smol NFT. All point-earning actions on the Arbitrum network receive a 1.5x multiplier.

The liquidity in the $GM pools of GMX v2 has reached 350 million USD across Arbitrum and Avalanche. There have been 113,500 users and 3776 unique traders on GMX V2 in the last 24 hours. The BTC and ETH markets each offer more than 135 million USD in liquidity, while the SOL and ARB markets each offer 21 million USD. The new BNB market on Arbitrum has attracted 3 million USD in TVL. The GM liquidity pools offer better Open Interest balance and are more scalable than GLP.

A discussion involving Chainlink and Umami is about to commence.