GMX
5906 followers · 3 stories
The GMX is a decentralized exchange protocol that deployed on two EVM chains, Arbitrum and Avalanche. The utiitty and governance token for its Arbitrum ecosystem is GMX, which generates 13% APR for the users. On the other hand, the token for the Avalanche ecosystem is GLP, which gives around 21% APR. GMX also has an API for developers to tap into its infrastructure.
GMX DAO buyback tops 415,000 tokens reacquired
The GMX DAO's open-market buyback program continues. It reacquired 10,560 GMX for ~$65,000 at ~$6.16 between July 29 and August 4, followed by 20,900 GMX for ~$135,000 at ~$6.46 between August 5–18.
Program running total since March 5: 415,780 GMX rebought for roughly $2.6M at a blended average of ~$6.25.
GMX launches Builders page and new trader tools
GMX shipped a new Builders page with an SDK, REST API, subgraph, and an earnings calculator, alongside a Trader & Affiliate page featuring VIP rates, tiers starting at $10M volume, and a dedicated account manager.
Also rolled out: GMX Account (deposit any asset held on Arbitrum), improved referral share cards, and trader profiles. GMX positions the Builders page as the on-ramp for apps seeking its deep, sticky perps liquidity and low-price-impact execution.
GMX July app update adds smart wallet and one-click trading
GMX shipped two significant app updates in July. Highlights include smart wallet support for Express and one-click trading, clearer swap routing, and GMX as an installable app.
The update also added passkey login options, in-app card funding with Apple/Google Pay, shareable performance cards, and cheaper TP/SL closes.
GMX Labs appoints its first Chief Executive Officer
Following a public recruitment with 20 applicants, the community member known as 'Q' was appointed as GMX Labs' first CEO, selected by the Interim Leadership Committee as a formal governance milestone for the protocol.
GMX DAO approves a strategic plan to restore price discovery
The DAO passed a plan that redirected all GMX staking rewards to the Treasury (effective March 4, 2026), deployed protocol earnings into open-market GMX buybacks, and restructured fragmented protocol liquidity.
GMX V2 launches on Arbitrum and Avalanche
GMX released V2, its major protocol upgrade introducing isolated markets, GM liquidity tokens and lower fees, live on both Arbitrum and Avalanche.
GMX deploys to the Avalanche blockchain
GMX went live on Avalanche on January 6, 2022 as part of the Avalanche Rush incentives program, bringing its spot and perpetual trading to a second chain.
GMX launches on the Arbitrum network
The decentralized spot and perpetual exchange went live on the Ethereum layer-2 Arbitrum network in September 2021, having previously operated as Gambit Financial on BNB Chain.