A popular decentralized perpetual exchange, GMX launched its second iteration on August 3. It’s live on Arbitrum and Avalanche with a list of new asset markets for trading.
The GMX v2 will enable traders with faster executions and lower swap fees. It also benefits liquidity providers with incentives from long/short balancing and swaps fees.
The newer version enables trading of several L1 tokens including SOL, XRP, LTC, DOGE and ARB on Arbitrum as well as on Avalanche. It also offers multiple collateral types for trading options.
As liquidity is deployed in isolated GM pools on v2, it allows liquidity providers to choose their exposure to preferred assets. Liquidity within GM Pools backs the long positions opened from the protocol.
“Our next steps will be to upgrade this beta release version to integrate Chainlink’s low-latency oracles,” says the official announcement.
GMX was originally launched on Ethereum-L2 Arbitrum in September 2021, it expanded to Avalanche in January 2022.
