CryptoPomato
Listing Committee of #GMX, Degen Onchain Trader. Sharing the news about Onchain Derivatives,
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As a leading project on the #perp Dex track, the core developer X of #GMX also responded to some questions regarding the GMX mechanism based on the events of #Hyperliquid from a few days ago, while calling on everyone to understand and support developers in solving problems. I have summarized it briefly:
GMX's Risk Management:
1. GMX dynamically adjusts the maximum leverage ratio through risk parameters (reducing as the total open contracts increase) to prevent high leverage operations from exploiting price impacts.
2. For reducing positions, when withdrawing collateral that exceeds the leverage limit, only the position size is reduced without decreasing the collateral, ensuring sufficient collateral is available for liquidation.
3. This mechanism effectively prevents similar issues but may affect user experience (e.g., variable leverage), which can be mitigated by gradually adjusting risk parameters.
GMX's Risk Management:
1. GMX dynamically adjusts the maximum leverage ratio through risk parameters (reducing as the total open contracts increase) to prevent high leverage operations from exploiting price impacts.
2. For reducing positions, when withdrawing collateral that exceeds the leverage limit, only the position size is reduced without decreasing the collateral, ensuring sufficient collateral is available for liquidation.
3. This mechanism effectively prevents similar issues but may affect user experience (e.g., variable leverage), which can be mitigated by gradually adjusting risk parameters.
#ไปฅๅคชๅETFๆนๅ้ขๆ
You know what? $38M position was liquidated from this @GMX_IO trader in 1 day. He loss $613k collateral in 1day by trading $ETH
#ETH๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ
You know what? $38M position was liquidated from this @GMX_IO trader in 1 day. He loss $613k collateral in 1day by trading $ETH
#ETH๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ
#ไปฅๅคชๅETFๆนๅ้ขๆ Bull Back๐
$776M Trading Volume in 24 hrs from 2,127 traders on #GMX #Kwenta & Polynomial
#ETH๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ #BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ
$776M Trading Volume in 24 hrs from 2,127 traders on #GMX #Kwenta & Polynomial
#ETH๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ #BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ
๐ Onchain #Derivatives Snapshot (05.14-05.20)
Let's see the performance of on-chain perpetual this week! #GMX #KWENTA Polynomial
๐ Current Open Interest: $274.8M
๐งโ๐ผ 12,310 traders holding positions
๐ Weekly Volume hits $1.46B
๐ฅ $541.1M #Liquidated
๐ต 48.28% of traders in profit
๐ค 41,102 trades executed
Let's see the performance of on-chain perpetual this week! #GMX #KWENTA Polynomial
๐ Current Open Interest: $274.8M
๐งโ๐ผ 12,310 traders holding positions
๐ Weekly Volume hits $1.46B
๐ฅ $541.1M #Liquidated
๐ต 48.28% of traders in profit
๐ค 41,102 trades executed
๐ฅ~$20.6M position with ~$2.37 collateral was #Liquidated from 160 traders on @GMX_IO & Kwenta & Polynomial in 24 hours!
๐ฅ #ETH๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ $13.21M
๐ฅ #BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ $2.71M
๐ฅ #SOL $2.06M
๐ญLargest Liq. Position: ~$7.22M on GMX from
0xCc5B1feF95f632c4A25f95ad88bFe12f928D04cB
๐ฅ #ETH๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ $13.21M
๐ฅ #BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ $2.71M
๐ฅ #SOL $2.06M
๐ญLargest Liq. Position: ~$7.22M on GMX from
0xCc5B1feF95f632c4A25f95ad88bFe12f928D04cB
๐ Onchain Derivatives Snapshot (04.08-04.14)
Let's see the performance of #on-chain #Perpetual this week! #GMX #KWENTA #Polynomial
๐ Current Open Interest: $268.8M
๐งโ๐ผ 11,660 traders holding positions
๐ Weekly Volume hits $1.97B
๐ฅ $224.2M liquidated
๐ต 50.52% of traders in profit
๐ค 73,348 trades executed
Let's see the performance of #on-chain #Perpetual this week! #GMX #KWENTA #Polynomial
๐ Current Open Interest: $268.8M
๐งโ๐ผ 11,660 traders holding positions
๐ Weekly Volume hits $1.97B
๐ฅ $224.2M liquidated
๐ต 50.52% of traders in profit
๐ค 73,348 trades executed
๐ฅ~$91.6M position with ~$8.6M collateral was #Liquidated from 1,133 traders on @GMX_IO & Kwenta & PolynomialFi in 24 hrs!
๐ฅ#BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ $32.63M
๐ฅ#ETH๐ฅ๐ฅ๐ฅ $19.86M
๐ฅ#SOL $13.63M
Largest Liq. Position: ~$13.1M on GMX from redtaped.eth
๐ฅ#BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ $32.63M
๐ฅ#ETH๐ฅ๐ฅ๐ฅ $19.86M
๐ฅ#SOL $13.63M
Largest Liq. Position: ~$13.1M on GMX from redtaped.eth
๐
Onchain Trader Spotlight
๐Trader Address: 0x2446bEb3905CfFbd2c5eB18F1f9c2996B05257c4
This @GMX_IO trader, a staunch believer in #BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ , has been rewarded with a handsome profit of $5,291,867.16!
Beginning his journey in the market on January 17th, he went long on $BTC when the price stood at $42,746 and continued his bullish stance on April 2nd. With a win rate of 66.67%, he's currently up by approximately $762,000. Holding a $BTC position worth around $13M at the moment, this trader's journey is one to watch!
Onchain Trader Spotlight
๐Trader Address: 0x2446bEb3905CfFbd2c5eB18F1f9c2996B05257c4
This @GMX_IO trader, a staunch believer in #BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ , has been rewarded with a handsome profit of $5,291,867.16!
Beginning his journey in the market on January 17th, he went long on $BTC when the price stood at $42,746 and continued his bullish stance on April 2nd. With a win rate of 66.67%, he's currently up by approximately $762,000. Holding a $BTC position worth around $13M at the moment, this trader's journey is one to watch!
๐Onchain Trader Spotlight
๐Trader Address: bdaf.eth
This @GMX_IO trader proves the power of buying the dip, securing massive profits twice!๐
First, he longed #ETH๐ฅ๐ฅ๐ฅ at $2,188 on Jan 23, pocketing ~$3M in a month. Then, he longed in the dip again with $ETH & #BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ on Apr 2, boosting his 7-day PnL to ~$619K. Despite a win rate of just 26.67%, he's up ~$731K. He is still holding ~$8M $ETH & $BTC position atm. Let's see if he could win more!!
๐Trader Address: bdaf.eth
This @GMX_IO trader proves the power of buying the dip, securing massive profits twice!๐
First, he longed #ETH๐ฅ๐ฅ๐ฅ at $2,188 on Jan 23, pocketing ~$3M in a month. Then, he longed in the dip again with $ETH & #BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ on Apr 2, boosting his 7-day PnL to ~$619K. Despite a win rate of just 26.67%, he's up ~$731K. He is still holding ~$8M $ETH & $BTC position atm. Let's see if he could win more!!
Once we properly break through this $2-ish level, new ATHs will not take long IMO.
Pretty crazy ROI still.
$SYN
Pretty crazy ROI still.
$SYN
๐Onchain Derivatives Snapshot (04.01-04.07)
๐Let's see the performance of on-chain #perpetual this week! #GMX #Kwenta #Polynomial
๐Current Open Interest: $400.33M
๐งโ๐ผ15,365 traders holding positions
๐Weekly Volume hits $1.88B
๐ฅ$116.76M liquidated
๐ต40.67% of traders in profit
๐ค65,899 trades executed
๐Let's see the performance of on-chain #perpetual this week! #GMX #Kwenta #Polynomial
๐Current Open Interest: $400.33M
๐งโ๐ผ15,365 traders holding positions
๐Weekly Volume hits $1.88B
๐ฅ$116.76M liquidated
๐ต40.67% of traders in profit
๐ค65,899 trades executed
I am very bullish on these narratives and my views on them are :
1) #AI - I was one of the first mover in AI ecosystem in Oct-Nov 2022 when chatgpt was in hype and no one was talking about it. All AI coins I bought are now up more than 10ร, $FET, $AGIX up like 40-50ร. Overall they still have huge potential and could do 10-20ร easily even from here as i can see whole crypto AI marketcap to be approx 300-400B$ in next 1-2 years.
2) #BRC20๐ ecosystem - As we coming closer to halving, Bitcoin ecosystem is coming into hype. My biggest bet in it would be $ORDI, $SATS, $LEVER, $RATS and there are many top notch upcoming projects like @runes_terminal which one should keep an eye on.
3) Restaking platforms - Coins like $PENDLE is up 7ร since our last buying and could do even more. I believe eigenlayer will be the one of the biggest airdrop in crypto till now and I have staked my $ETH in it as well as many other platforms such as Etherfi, renzo, zircuit which offers eigenlayer points as well. Also exposed in leverage restaking platforms like Gearbox and Fluid. Currently I have approximately 200k eigenlayer points and looking to farm more.
4) RWA - I was bit late into this narrative but still made good amount in $TOKEN and $POLYX. Blue-chips of this narrative would be $ONDO $TOKEN $POLYX.
Next 1-2 years would be life changing if u position yourself correctly in top narratives. Don't fumble it generational wealth :)
1) #AI - I was one of the first mover in AI ecosystem in Oct-Nov 2022 when chatgpt was in hype and no one was talking about it. All AI coins I bought are now up more than 10ร, $FET, $AGIX up like 40-50ร. Overall they still have huge potential and could do 10-20ร easily even from here as i can see whole crypto AI marketcap to be approx 300-400B$ in next 1-2 years.
2) #BRC20๐ ecosystem - As we coming closer to halving, Bitcoin ecosystem is coming into hype. My biggest bet in it would be $ORDI, $SATS, $LEVER, $RATS and there are many top notch upcoming projects like @runes_terminal which one should keep an eye on.
3) Restaking platforms - Coins like $PENDLE is up 7ร since our last buying and could do even more. I believe eigenlayer will be the one of the biggest airdrop in crypto till now and I have staked my $ETH in it as well as many other platforms such as Etherfi, renzo, zircuit which offers eigenlayer points as well. Also exposed in leverage restaking platforms like Gearbox and Fluid. Currently I have approximately 200k eigenlayer points and looking to farm more.
4) RWA - I was bit late into this narrative but still made good amount in $TOKEN and $POLYX. Blue-chips of this narrative would be $ONDO $TOKEN $POLYX.
Next 1-2 years would be life changing if u position yourself correctly in top narratives. Don't fumble it generational wealth :)
๐Onchain Trader Spotlight
๐ Tradao Address: 0xaea8E3Bd369217CC6E3e6AbdDf0dA318fBA8E59b
He must know something!!! This trader shorted #SOL๐ฅ๐ฅ๐ฅ๐ฅ , #ETH๐ฅ๐ฅ๐ฅ and #BTCใ since 24 Mar, and kept increasing the position with ~$2.2M collateral til 2 Apr. Then, he earned ~$525K in the past 24hrs
๐ Tradao Address: 0xaea8E3Bd369217CC6E3e6AbdDf0dA318fBA8E59b
He must know something!!! This trader shorted #SOL๐ฅ๐ฅ๐ฅ๐ฅ , #ETH๐ฅ๐ฅ๐ฅ and #BTCใ since 24 Mar, and kept increasing the position with ~$2.2M collateral til 2 Apr. Then, he earned ~$525K in the past 24hrs
๐Onchain #Derivatives Snapshot (03.25-03.31 )
๐Let's see the performance of onchain #Perpetual this week! #GMX #Kwenta #Polynomial
๐Current Open Interest: $448.68M
๐งโ๐ผ15,699 traders holding positions
๐Weekly Volume hits $1.9B
๐ฅ$72.21M Liquidated
๐ต45.46% of traders in profit
๐ค71,878 trades executed
๐Let's see the performance of onchain #Perpetual this week! #GMX #Kwenta #Polynomial
๐Current Open Interest: $448.68M
๐งโ๐ผ15,699 traders holding positions
๐Weekly Volume hits $1.9B
๐ฅ$72.21M Liquidated
๐ต45.46% of traders in profit
๐ค71,878 trades executed
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