GMX $4M Trading Rewards join Avalanche
GMX $4M Trading Rewards join Avalanche Rush, AVAX will now provide GMX with $4 million in assistance and Rush rewards plus other benefits for users.
over the course of many months.
On January 6, 2022, Avalanche implemented the GMX protocol, enabling $16 billion in swaps and futures trading. You may use your own wallet to trade AVAX, BTC, and ETH and benefit from the EVM-compatible blockchain’s sub-second finality. Traders may focus on their strategy as their transactions settle almost instantaneously. GMX $4M Trading Rewards join Avalanche Rush
About Avalanche Rush
Avalanche Foundation launched Avalanche Rush in August 2021 to build the Avalanche DeFi ecosystem. The incentive scheme improved Avalanche’s DeFi total value locked (TVL) by 900% in a month.
GMX on Avalanche
GMX benefits from Avalanche’s secure low-fee chain and its expanding DeFi ecosystem. The presence of many other respected teams of builders on Avalanche allows the protocol to expand its cooperation, including with new partners building products on top of GMX’s pools.
Due to the growing trading community on Avalanche, GMX has settled more than $16.2 billion in trading volume since its launch on Avalanche in January 2022. This makes for an average of $51 million in daily swaps and perpetual futures trading. Eager analysts can dive into the details at Token Terminal, DeFi Llama, or the analytics dashboards at Dune.com.
By November 2022, Avalanche had 16,300 GMX users. The protocol’s GLP Liquidity Pool makes all spot swaps and derivatives trading on GMX feasible. The pool has $65 million in deposits.
“GMX is nothing without its supportive community. Building partnerships and fostering a builders’ mindset among users has always been the focus, so that we, together, evolve an ecosystem stronger than the sum of its individual parts. Avalanche understands this well. And community contributions like the GMX Blueberry Club and Blueberry Podcast are prime examples of it too.” — Jone Zee, GMX Communications Coordinator
About GMX
GMX is a permissionless and decentralized exchange system that provides a capital-efficient on-chain alternative for hedging Bitcoin, Ethereum, and AVAX. GMX was developed by the Global Markets Exchange (GMX) company.
About Avalanche
By calculating the shortest time to finality, Avalanche network is the blockchain industry’s quickest smart contracts platform digital asset. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.
