GMGN launches public beta for perpetual trading product

GMGN launches public beta for perpetual trading product

The memecoin trading terminal is pushing into derivatives with third-party liquidity and a 3.5% annualized yield on account balances.

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by Editorial Team

GMGN, the multi-chain trading terminal best known for helping degens snipe memecoins across Solana and Ethereum, is making its first serious play at derivatives. The platform launched a public beta for perpetual contracts trading on September 21, with co-founder Haze announcing the rollout and inviting users to stress-test the feature via Telegram groups.

What the beta actually includes

The initial offering is relatively focused. The beta currently features the SOL/USDC trading pair, served up through a standard interface with charts, order books, and positions management. Rather than bootstrapping its own liquidity pools, GMGN is sourcing liquidity from third-party providers.

The fee structure undercuts many established competitors. Takers pay 0.045% per trade, while makers pay 0.015%. For context, GMGN’s spot trading fees have historically sat at 1%, so the derivatives product is priced to attract volume rather than maximize per-trade revenue.

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There’s also a yield component. Account balances on the platform will earn a 3.5% annualized return, a feature that doubles as both a user retention tool and a reason for traders to keep capital parked on the platform between trades.

From memecoin terminal to derivatives platform

GMGN operates as a non-custodial trading terminal across more than 10 blockchains, including Solana and Ethereum. Launched in 2023 as an Ethereum-focused smart-money tracker, it shifted focus toward Solana by 2024, driven by the rise of memecoins. The platform offers features such as token discovery, rug/honeypot scans, copy trading of labeled smart-money wallets, and automation capabilities including trailing take-profit and stop-loss orders.

It’s also worth noting that no native GMGN token has been announced in connection with the beta launch. The public beta currently lacks comprehensive details on leverage ratios and collateral types.

The competitive landscape and what it means

GMGN is entering a perpetual contracts market that’s already well-populated. Centralized exchanges like Binance and Bybit dominate derivatives volume, while decentralized alternatives like Hyperliquid, dYdX, and Jupiter’s perpetuals on Solana have captured significant on-chain market share.

The public beta is live now, with GMGN collecting user feedback through its Telegram channels.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
FINANCE
GMGN launches public beta for perpetual trading product
GMGN launches public beta for perpetual trading product

The memecoin trading terminal is pushing into derivatives with third-party liquidity and a 3.5% annualized yield on account balances.

by Editorial Team

Share

Add us on Google

GMGN, the multi-chain trading terminal best known for helping degens snipe memecoins across Solana and Ethereum, is making its first serious play at derivatives. The platform launched a public beta for perpetual contracts trading on September 21, with co-founder Haze announcing the rollout and inviting users to stress-test the feature via Telegram groups.

What the beta actually includes

The initial offering is relatively focused. The beta currently features the SOL/USDC trading pair, served up through a standard interface with charts, order books, and positions management. Rather than bootstrapping its own liquidity pools, GMGN is sourcing liquidity from third-party providers.

The fee structure undercuts many established competitors. Takers pay 0.045% per trade, while makers pay 0.015%. For context, GMGN’s spot trading fees have historically sat at 1%, so the derivatives product is priced to attract volume rather than maximize per-trade revenue.

Advertisement

There’s also a yield component. Account balances on the platform will earn a 3.5% annualized return, a feature that doubles as both a user retention tool and a reason for traders to keep capital parked on the platform between trades.

From memecoin terminal to derivatives platform

GMGN operates as a non-custodial trading terminal across more than 10 blockchains, including Solana and Ethereum. Launched in 2023 as an Ethereum-focused smart-money tracker, it shifted focus toward Solana by 2024, driven by the rise of memecoins. The platform offers features such as token discovery, rug/honeypot scans, copy trading of labeled smart-money wallets, and automation capabilities including trailing take-profit and stop-loss orders.

It’s also worth noting that no native GMGN token has been announced in connection with the beta launch. The public beta currently lacks comprehensive details on leverage ratios and collateral types.

The competitive landscape and what it means

GMGN is entering a perpetual contracts market that’s already well-populated. Centralized exchanges like Binance and Bybit dominate derivatives volume, while decentralized alternatives like Hyperliquid, dYdX, and Jupiter’s perpetuals on Solana have captured significant on-chain market share.

The public beta is live now, with GMGN collecting user feedback through its Telegram channels.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.