GMX

The Governance vote on the proposal to select a bridging & messaging partner for GMX has concluded.

The DAO has expressed a preference for @LayerZero_Core as the preferred messaging infrastructure provider for GMX Multichain.

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🔹 24h Volume: $1.01 Billion.

Thank you to the hundreds of thousands of GMX users who continue to support permissionless onchain trading.

A new proposal to the GMX DAO has been published on the Governance forum:

🔸 "GMX V2 Hybrid Deployment on Botanix"

This proposal seeks to gauge the community’s interest in deploying GMX V2 on @BotanixLabs' Spiderchain.

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Reminder: a crucial Governance proposal related to the ongoing development of GMX Multichain is live for voting on Snapshot.

🔸 "Bridging & Messaging Partner For GMX"

This Snapshot vote will end on Saturday, April 12.

Cast your vote now: https://snapshot.box/#/s:gmx.eth/

GMX aims to provide an optimised onchain trading experience for its thousands of weekly users. To that end, the devs recently implemented several enhancements:

🔸 Added support for Stop Market Orders

🔸 Enabled 'drag and drop' editing of orders (Take Profit/Stop Loss/Limit/Stop Market) directly on the chart

🔸 Optimised swap routing for both spot swaps and perpetual trades

🔸 Introduced various enhancements to the Trade UI: a new Version/Network dropdown, an Order Types dropdown, a clearer Chart Header, and updated token decimal logic

🔸 Improved the Mobile UI, by including 24-hour volumes in the market dropdown and updating the position cards.

🔸 Updated BigNumbers to use the k, m, and b suffixes for better clarity and readability in the dApp

🔸 Enhanced the recently introduced Depth Charts, refining the step sizing, colours, chart display for newer assets, and mobile experience

🔸 Updated the PnL Analysis page to show 7-day data by default, for a cleaner overview

🔸 Clarified the Network Fee calculations by including the estimated gas buffer refund in the cost display

🔸 Strengthened the logic for Limit Swaps and Limit Increase orders

🔸 Updated the helpers of the SDK

An important new Governance proposal related to the ongoing development of GMX Multichain is now live on Snapshot:

🔸 "Bridging & Messaging Partner For GMX"

Tokenholders, please review the proposal and cast your vote: https://snapshot.box/#/s:gmx.eth/

729,000 GMX users have managed to generate $280 Billion in notional trading volume.

Over the past 365 days, GMX's multichain perpetual exchange generated about $100 Million in fees and earned nearly $32 Million in revenue.

Learn more on @TokenTerminal: https://tokenterminal.com/explorer/studio/dashboards/ae3fd53e-3c20-4382-980a-ef83dbf6991d

Reminder: Nominations for the three governance committees of the GMX DAO are now open.

As we approach the end of the initial six-month terms for GMX's Governance Committee, Listing Committee, and Security Committee, we invite the community to nominate new candidates for these positions.

The nomination period for new committee members will remain open until April 2.

For more information on the responsibilities of committee members and the associated compensation, please visit: https://t.co/PVNVpEvf4v.

If new delegates are not elected by the DAO, the current committee members have expressed their willingness to continue serving for another term.

An important GMX Community Call has been scheduled:

Q&A Session and Presentation of the Proposals by the potential Bridging & Messaging Partners for GMX Multichain

All community members are invited to listen in to this Community Call on Google Meet, ask questions, and hear from the involved parties.

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📅 Date: Monday, 31 March

🕛 Start Time: 1:30 PM UTC | 9:30 AM ET | 5:30 PM UAE | 9:30 PM SGT
🕛 Expected End Time: 3 PM UTC | 11:00 AM ET | 7 PM UAE | 11 PM SGT

📍 Venue: Google Meet: https://t.co/GYEImVCluB

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The related discussion thread on the GMX Governance forum, including the bridging & messaging partners' submitted proposals, can be found here:

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Important security notice:

There appears to have been an exploit related to Abracadabra/Spell's cauldrons that utilise GM tokens, as noted by PeckShield and other security specialists monitoring the blockchain.

To clarify, no issues have been identified with GMX contracts, and they are not affected by this unfortunate situation.

We believe the issue relates solely to the Abracadabra/Spell cauldrons. These cauldrons allow for borrowing against specific GM liquidity tokens.

The contributors from Spell, GMX, and security researchers are currently investigating the cause of the issue.

A new Governance proposal is live on @Tallyxyz:

🔸 "Administration of Protocol Owned Liquidity"

Tokenholders, please review the proposal and cast your vote: https://www.tally.xyz/gov/gmx

A new market is now available for trading:

🔸 MKR/USD

Go Long or Short the @MakerDAO token with up to 50x, enjoying the GMX experience of self-custody and permissionlessness. Alternatively, provide liquidity to earn pool rewards.

$MKR

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Introducing a new market for traders and LPs on GMX:

🔸 OM/USD (Mantra)

You can now trade OM perpetual swaps directly from your wallet, enjoying self-custody, up to 50x leverage, and fast onchain execution on Arbitrum.

$OM @MANTRA_Chain

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A new market is now available for trading:

🔸 HYPE/USD

Long or Short the @HyperliquidX token with up to 50x, enjoying the GMX experience of self-custody and fast onchain execution, or provide liquidity to earn rewards.

$HYPE

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Introducing a new market for traders and LPs on GMX:

🔸 JUP/USD

You can now trade $JUP perpetual swaps directly from your own wallet, with self-custody, up to 50x leverage, and lightning-fast onchain execution on @Arbitrum.

@JupiterExchange

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6 important announcements from GMX in February that you may have missed:

1️⃣ Depth Charts are now available on GMX
2️⃣ GMX-Solana: Mainnet Beta is live
3️⃣ New conditional order type introduced: Stop Market
4️⃣ GMX Development Update
5️⃣ GMX Blueberry Club launches the GMX Pass, gamifying liquidity provision and boosting rewards
6️⃣ New markets created: SONIC, BERA, LDO, CAKE, AIXBT, FET, ONDO, VIRTUAL, and PENGU on @Arbitrum, plus TRUMP and MELANIA on @Avax

Details 👇

A new Governance proposal is now live on Snapshot:

🔸 "Decentralization of Fee Distribution Process"

Tokenholders, please review the proposal and cast your vote: https://snapshot.box/#/s:gmx.eth/

The next Governance Community Call for the GMX DAO has been scheduled:

📅 Thursday, 6 March
🕛 1:30 PM UTC / 8:30 AM EST / 9:30 PM SGT
📍 On the Discord Stage

Join us to learn about the current developments and future plans for GMX. Set a reminder: https://discord.com/events/837652500948713502/1346471140666638399

The following updates were completed by GMX's development contributors over the past weeks:

🔸 Depth Charts are now available for all markets, allowing users to visualise the deep liquidity of GMX. Helpful tooltips about price impact and execution pricing have also been added

🔸 Created new markets for SONIC, AIXBT, CAKE, ONDO, FET, VIRTUAL, PENGU, BERA, LDO, TRUMP, MELANIA, FARTCOIN, AI16Z and ANIME, providing many new opportunities for traders and liquidity providers

🔸 Redesigned the Tradebox, optimising it with a cleaner and simpler look, new informational tooltips, and improved tooltip placements

🔸 Introduced Stop Market orders, enabling you to automatically execute a stop-market order (either Long or Short) if a specified support/resistance level is breached

🔸 Consolidated all token approval actions into the CTA buttons for clarity and smooth trade flow.

🔸 Updated the SDK to include fixed method signatures, better error logging and handling, and an improved ReadMe file, making it easier to integrate with GMX

🔸 Implemented a new, more reliable Profit & Loss calculation method allowing for more consistent, smoother PnL updates

🔸 Updated the Ecosystem page to feature new GMX integrations and collaborators

🔸 Launched a Dune Dashboard for 'Net Funding and Borrowing Rates', providing added-value for Arbitrage traders

🔸 Added the display of Annualised Fee Values to the dApp Dashboard's weekly fee tooltip