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's original lead developer, on X under the handle ZZZ, has stepped back from active development and now serves as an advisor to GMX. He confirmed personally that he deployed $ZZZ on Robinhood Chain over the weekend; the wallet used is not an active GMX deployer.
The GMX DAO's open-market buyback program continues its weekly cadence. It reacquired 23,720 GMX for ~$180,000 at ~$7.59 between August 26 and September 1, 2026. The program added 10,560 GMX for ~$65,000 at ~$6.16 in late July/early August, followed by 20,900 GMX for ~$135,000 at ~$6.46 in mid-August.
Program running total since March 5: 453,200 GMX rebought, with the buyback dashboard showing the annualized rate and value at the current market price.
GMTrade now offers round-the-clock trading of commodity markets, including Gold and WTI crude, so they trade even at 3am Sunday or on holidays. The markets are backed by Chainlink Data Streams RWA pricing.
GMX shipped a batch of app optimizations this week. The Earn Portfolio now shows everything a user has earned from Staking and LP, margin deposits can include a trigger price, and Trade History captures a trade's full lifecycle. The update also adds history exports for three popular tax tools and a new "Buy with" option. GMX pointed users to its changelog for details and invited feature suggestions.
GMX has listed QQQ/USD and SPY/USD perpetuals, the first wave of its broader TradFi expansion, now available for 24/7 trading of the Invesco QQQ Trust and SPDR S&P 500 ETF even outside US market hours. The markets are backed by the GLV [WETH-USDC] liquidity vault on Arbitrum and priced by low-latency Chainlink Data Streams.
GMX frames these listings as Wave 1 of its TradFi expansion, signaling more traditional-asset markets to come.
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 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.
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.
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 listed perpetuals for the Invesco QQQ Trust and SPDR S&P 500 ETF, its first TradFi markets, with 24/7 trading, up to 50x leverage, and Chainlink-priced feeds.
GMX released V2, its major protocol upgrade introducing isolated markets, GM liquidity tokens and lower fees, live on both Arbitrum and Avalanche.
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.
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.
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