GMX launches Dollar Vault for USDG liquidity
GMX launched the GMX Dollar Vault — a new GLV vault listed as GLV [USDG-USDG] — that lets users deposit the Paxos-issued USDG stablecoin and earn in dollars, with no crypto price exposure on the deposit. The vault spreads deposits across the BTC, ETH, and SOL perp markets on GMX, holding a basket of GM pool tokens that rebalance automatically toward the best-performing pools.
- Earns the majority share (63%) of trading, liquidation, and borrowing fees; base yield is expected to sit between 7% and 12% APR
- Carries an 8%+ launch boost for the first 8 weeks on up to $100M of program TVL, funded by Arbitrum's USDG program together with GMX
- No deposit fee and no lock-up; GM [USDG] pools for BTC, ETH, and SOL also went live for whitelisted large depositors with a 5% boost
- Arbitrum announced the same day it is joining the Global Dollar Network, bringing USDG to Arbitrum One
GMX
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.
