About GMX
GMX is a decentralized spot and perpetual exchange where users trade cryptocurrencies like BTC, ETH, and AVAX with leverage and swaps directly from a wallet. The project came from a merger of the XVI/XVIX and Gambit communities, and its founding team is anonymous. GMX launched on Arbitrum in September 2021 and expanded to Avalanche in early 2022. Its design uses a liquidity-pool model where GLP, a multi-asset liquidity token, backs swaps and leveraged trading on the platform. The native token, GMX, is used for staking and governance, with stakers earning a share of platform fees and rewards. GMX has a fixed maximum supply of 13.25 million tokens, with roughly 10.4 to 10.6 million in circulation. It is one of the more widely used decentralized derivatives platforms operating on layer-2 and alternative networks.
USDG market cap on Arbitrum One climbs to $31.2 million after $10.2 million daily jump
USDG's rapid growth on Arbitrum One highlights the increasing importance of stablecoins in DeFi ecosystems and their potential revenue impact.
Arbitrum adopts Paxos’ USDG as ecosystem dollar with DeFi support
Arbitrum's adoption of USDG could enhance DeFi liquidity and stability, fostering broader ecosystem growth and increased user engagement.
Hyperliquid’s monthly active addresses hit all-time high of ~291,900
Hyperliquid's growth in active addresses highlights its competitive edge in decentralized trading, but may invite increased regulatory scrutiny.
GMX disables v2.2b contracts, urges integrators to migrate to v2.2c before September 14 deadline
The migration to v2.2c highlights the critical need for developers to adapt swiftly to maintain seamless integration and avoid operational disruptions.
GMTrade launches 24/7 perpetual trading for commodities on Solana
GMTrade's 24/7 commodity trading on Solana could revolutionize market access, enabling continuous trading and potentially increasing market liquidity.
Orderly goes live on Robinhood Chain, enabling no-code perp DEX creation
The integration of no-code DEX creation on Robinhood Chain could democratize DeFi access but may challenge user experience and security standards.
A sourced map of GMX's relationships is on the way.
Partners, competitors and related assets, each link independently verified and source-linked before it appears here.
The Crypto Briefing podcast is on the way.
Conversations on GMX and the wider market, hosted by our team, will appear here once episodes are live.