GMX's new single-sided BTC pool currently offers 9.28% APR! Earn market-leading APRs on your BTC or ETH as well. Mint GM liquidity now: 🔸 https://t.co/jtu8bBlCUl 1/3

🫐

Recently, GMX concluded its Arbitrum S.T.I.P. incentives campaign. Let's assess its achievements: Part 3️⃣: The GMX Grants Program ________ To quickly recap, the STIP campaign aimed to: 🔹 Encourage on-chain engagement with DeFi on Arbitrum by converting CEX users to DEX users and increasing the activity on GMX V2 🔹 Create a range of yield-earning, capital-efficient, composable liquidity pools 🔹 Allocate part of the STIP grant for a Grants Program for Arbitrum ecosystem partners building on GMX V2. Today, we'll examine the impact of element three: 3.) Grants Incentives for Builders The main aim of the grant program was to encourage the growth of the broader, composable GMX V2 ecosystem, by offering development assistance through grants. This would, by extension, increase liquidity and trading on GMX while boosting the Arbitrum DeFi sector. GMX v2's GM liquidity pools are fully composable and offer high yields, making them attractive for DeFi vaults and money markets. Other builders focused on integrating GMX's Perpetuals into their dApps, developing copy-trading solutions, and building alternative front-ends. ________ The main results: 🔸 The grants program was popular. In mere days, 54 applicants applied for funding. GMX's Grants Committee reviewed the proposals, funding 22 applications out of the 54, with 1,673,500 ARB allocated to the grantees. Based on their achieved milestones, ~1,290,000 ARB was ultimately distributed. 🔸 The grantees focused on integrating GMX V2 trading generated a whopping ~518 million in volume during the campaign. 🔸 On the liquidity side, the grantees achieved a combined TVL of 40 million on their platforms — significantly deepening the liquidity of the GM markets. 🔸 Other successful products that came out of the Grants Program include GMX Tradingview Alerts, and an open-source Python SDK for GMX. 🔸 For more details on the various grant recipients and what they built, view the highlight post in the comments. ________ Conclusion: The funded grant proposals have led to direct improvements in the GMX V2 tooling, and boosted community involvement on Arbitrum. The resultant increase in liquidity made using GMX V2 more attractive, and the number of active traders grew. The data suggests that GMX’s use of the Arbitrum DAO STIP grant has been effective. The allocated funds achieved the main objective: driving tangible on-chain engagement with DeFi on Arbitrum. The liquidity and trading incentives programs directly drove growth on GMX V2, while the GMX Grants Program also helped to foster the broader Arbitrum ecosystem. A more detailed report underpinning these conclusions is available at: 👉 https://forum.arbitrum.foundation/t/leveraging-the-stip-grants-program-to-grow-the-gmx-and-arbitrum-defi-ecosystem/23100 ________ A huge thank you to @Arbitrum for the comradery and support, allowing GMX to further nurture the blockchain's DeFi ecosystem. And to Gitcoin's @GrantsStack for helping to make the GMX Grants Program run smoothly. And, of course, to all the involved builders: @UmamiDao @D2_Finance @Rage_Trade @SniperMonke01 @Rodeo_Finance @Tradaoperp @Vaultkaofficial @dappOS_com @CryptoIbuki @pear_protocol @GMDprotocol @perpieio @DeltaPrimeDefi @FluidToken @symbiosis_fi @Dolomite_io @steadefi @rabbithole_gg @FungiAgent It was a pleasure to collaborate with you. The GMX Ecosystem graph is currently being updated to include all your valuable contributions: Together, let's keep building better #DeFi.

The new yield-earning 100% BTC and ETH liquidity pools on GMX have attracted 15+ Million USD in just a few days. Earn double-digit APRs on your BTC and ETH as well: 🔸 https://t.co/F65XNy0zap

🫐

GMX recently concluded its Arbitrum S.T.I.P. campaign and it's time to assess its success. Did the protocol effectively transform GMX v2 into foundational DeFi infrastructure for @Arbitrum..? Part 2: Trading Incentives To recap, the STIP campaign aimed to: 🔹 Encourage on-chain engagement with DeFi on Arbitrum by increasing the activity on GMX V2. 🔹 Create a range of perpetual and spot pools that are highly liquid, yield-earning, composable and capital-efficient. 🔹 Allocate part of the STIP grant for a Grants Program for Arbitrum ecosystem partners building on GMX V2. 🔹 Convert centralised exchange users to DEX users, and foster a vibrant on-chain trading environment. Were those goals achieved? Let's take a closer look at the evidence: GMX targeted three main stakeholder groups: liquidity providers, traders, and ecosystem builders. Today, let's focus on number 2: the incentives for traders. 2⃣. Trading Incentives Trading fee rebates of up to 75% were offered to all traders on the GMX V2 markets. The goal was to provide users with a frictionless on-chain trading experience: low fees, fast execution, and self-custody. Note: the incentives were designed to encourage active participation with GMX v2 on Arbitrum, while guarding against abuse like wash-trading. The main results: Over its eight months of existence, GMX v2 has generated a total trading volume of $34.38B. From the start of the STIP campaign (the second week of November), v2 trading volume shows a clear upward trend. 🔹 Total trading volume increased by 28.22% during the incentive period. 🔹 The average daily volume on V2 during the campaign period was $197.84M. 🔹 March was the most successful month overall, with the STIP incentives boosting trading volume up to $7.74B, and $14.52M in protocol fees collected. During the entire STIP campaign, GMX processed over $29.72B in volume and generated $27.10M in fees. This was the highest fee generation across all perpetual DEXs, demonstrating the demand among traders and the product-market fit of v2. Conclusion: The above image illustrates the impact achieved by the STIP Trading Incentives. GMX has effectively utilised all the incentives and has been able to maintain mindshare across all the top Perp DEXs, with more volume, protocol fees collected, and daily active users. Despite fierce competition marked by aggressive liquidity mining and trading incentives campaigns, GMX has maintained its position as the leading protocol on Arbitrum in terms of Total Value Locked (TVL), fees, protocol revenue, and L2 gas consumption. The DeFi community’s continued trust in the platform has fueled the further adoption of Arbitrum and solidified its user base, capturing 50% of the total Perpetual (Perp) market. GMX’s TVL and activity have exhibited remarkable stickiness, consistently locking between 15% and 30% of all TVL on Arbitrum over the past year. Additionally, GMX has consistently ranked among the top perpetual protocols in all of DeFi! ____ Coming up: part 3, where we look into the results of the GMX Grants Program! You can access the full report on GMX's successful STIP program at: 👉 https://forum.arbitrum.foundation/t/leveraging-the-stip-grants-program-to-grow-the-gmx-and-arbitrum-defi-ecosystem/23100

GMX's development contributors have, over the last two weeks: 🔹Completed the code update for GMX V2 contracts to support Chainlink timestamp-based feeds. Deployment is pending further testing. 🔹Created a new Trade History and Claims History 🔹Made various other UX enhancements 🔹Fixed an issue with the price sometimes not updating on the chart 🔹Incorporated limits into the TP/SL modal 🔹Made general UI improvements to the Global Leaderboard 🔹Updated the Leaderboard page to display competition winners' rewards 🔹And more...

Important reminder: The old GMX RewardRouter will be disabled on 15 April 2024. Note: this update may affect funds in http://esgmx.market and Key Finance (http://gmxkey.com), which would be frozen. Original announcement for Arbitrum: https://t.me/GMX_Technical_Announcements/11 Original announcement for Avalanche: https://t.me/GMX_Technical_Announcements/12

GMX has launched a new market for perpetual & spot trading on GMX V2 on #Arbitrum:

🔹OP, from the @Optimism Layer 2.

Trade now, and take part in the just-launched GMX #EIP4844 Trading Competition, or provide liquidity to the OP $GM pool: https://t.co/U2cmox6myO

1/3

Liquidity providers to the new $OP pool share 20,000 ARB of incentives this week. Deposit OP or USDC into the $GM pool, and earn pool fees plus an ARB airdrop:

✅ https://t.co/jtu8bBlCUl

Note: all GMX V2 traders also benefit from up to 75% rebate on their trading fees!

2/3 https://t.co/a9ijWdMj0U

A special Trading Competition will kick off on Wednesday, to celebrate the launch of GMX’s new Leaderboard and Ethereum’s #EIP4844 upgrade, which will vastly reduce gas costs on Arbitrum and GMX.

Trade, win, and earn your share of the 280,000 ARB prize pot! 👇

1/3

The GMX #EIP4844 Trading Competition consists of two 7-day contests. Traders compete in two categories: ROI and Notional Profit.

To participate, just trade any perpetuals on GMX V2 on #Arbitrum between March 13-27.

Rank on the leaderboard to win your share of the $550,000+… https://t.co/zfiOyvqY1Z

GMX announces the launch of a new perpetual & spot market on GMX V2 on @Arbitrum:

🔹@AVAX token from the Avalanche blockchain

Provide liquidity now to benefit from $GM pool bootstrap incentives. Or trade with low fees and full custody of your funds: https://t.co/fhPcc8rVLK

1/3

20k ARB of liquidity incentives is being allocated to LPs in the new AVAX pool this week.

Deposit WAVAX or USDC into the AVAX $GM pool and earn from fees:

✅ https://t.co/F65XNy01kR

GMX V2 traders also benefit from up to a 75% rebate on all open and close fees, meanwhile.

2/3 https://t.co/MCylBHhy7T https://t.co/It7cKE28ZW

GMX reached a milestone today, as Epoch 18 of the STIP campaign begins:

✅ Record volume: $1.32 Billion in 24h
✅ More than 6900 daily users

ARB incentives have been increased, to match the record levels of activity.

Provide GM liquidity or trade now: http://app.gmx.io

1/5

The record trading volumes as BTC broke its all-time high were evident across all metrics: Open Interest, Trading Volume and Protocol Fees on GMX reached a peak.

2/5 https://t.co/52aES8T6B0