what's gmx?
GMX is a decentralized perpetual exchange protocol that enables users to trade spot and perpetual futures for cryptocurrencies like BTC, ETH, and others with up to 100x leverage directly from their wallets on blockchains such as Arbitrum, Avalanche, and Solana. It features liquidity provision through pools like GLP and GM, where providers earn fees from trading, borrowing, and swaps. The platform emphasizes security, transparency, and community governance, with decisions on asset listings and incentives made via Snapshot proposals. GMX has expanded to support multichain trading from various EVM-compatible networks, reducing friction and enhancing accessibility for DeFi users.
GMX re-acquired 20,150 tokens for $125,000 at $6.20 each from April 1-7, 2026.
contract
arbitrum-one
avalanche
Re-acquired 20,150 GMX tokens for approximately $125,000 at an average price of $6.20 per token between April 1 and April 7, 2026.
Redesigned Referrals page with new Traders and Affiliates tabs displaying active codes, earned discounts, referred volume, traders, and earned rebates over time.
Participated in the Synthesis hackathon by issuing a bounty in collaboration with bondoncredit and iEx_ec for autonomous agents trading perpetuals on GMX.
Outperformed most tokens during the post-FTX bear market due to generating revenue and sharing it with holders, according to Arthur Hayes' analysis cited by @coindesk and @cryptohayes.
Integrated into Vooi's Perp Arena comparison tool, enabling traders to compare GMX execution performance against other perpetual trading platforms.
Re-acquired 16,250 GMX tokens for approximately $111,000 at an average price of ~$6.83 per token between March 11-17, 2026, as part of the GMX DAO buyback program.
Integrated with Gelato's Turbo Relayer gasless infrastructure, which provides sub-300ms transaction confirmations and up to 20x faster execution with 30-90% lower gas overhead.
Processed $360+ billion lifetime perpetuals trading volume across all deployments.
Generated $480 million in cumulative fees.
Served over 750,000 traders.
Has over 70 protocol integrations.
Confirmed launch of a cross-margin trading mode.
Redeployed 600,000 GMX from Trader Joe and Uniswap to GMX V2's GMX-USDC pool with $400k injection, targeting 2% market cap liquidity depth.
Approved governance proposal March 4, 2026, redirecting all staking rewards to Treasury. Rewards unlock only when GMX price exceeds $90, require stakers maintain 80% balance staked, and are tied to staking duration.
Implemented an 80% staking rule requiring users to maintain 80% of peak staked GMX balance or forfeit accumulated rewards.
Launched live in-dapp Chat Support feature this week.
Redesigned the Trading Interface to improve leverage management and conditional order functionality.
Has approximately 2,000 daily traders on the platform.
Ranks third among Solana perpetual DEXs as of February 2026.
GMTrade (formerly GMXSOL) achieved daily volume exceeding $200M as of February 2026.
GMTrade (formerly GMXSOL) reached $30M in open interest as of February 2026.
GMTrade (formerly GMXSOL) reached approximately $15M in TVL as of February 2026.
Launched on Solana in March 2025 as a decentralized perpetuals platform, featuring multi-pool liquidity, dynamic funding rates, and cross-market liquidity (GLV), supporting indices, stocks, commodities, and forex.
Suspended GMX-PERP perpetual futures trading on Coinbase Advanced and Coinbase International Exchange on 2026-03-16, with final settlement at $6.76145 USDC.
Participates as a partner in Arbitrum Open House NYC Founder House event scheduled for March 6-8, 2026.
Launched governance proposal "GMX Labs Leadership Update" on Snapshot, opening vote to elect Security Council for Season 4 from March 16, 2026; hiring a CEO to lead strategy, formalize organization, strengthen partnerships, and guide expansion.
Integrated Chaos Risk Oracles for real-time parameter updates to enable safer and more capital-efficient markets.
Launched Buyback Transparency and Staking Power upgrades, beginning a new reward epoch on March 25, 2026. Features a 1M GMX buy-wall at $5, funded by treasury via multi-sig, with ongoing weekly buyback cycles. Repurchased 18,500 GMX for ~$120,000 at $6.49 (March 18-24).
Achieved 50% revenue growth over the past 30 days (measured from approximately January 18, 2026 to February 17, 2026).
Launched MET/USD trading pair with up to 25x leverage, available on Ethereum, BNB Chain, Arbitrum, and Base.
A WBTC.b–USDC liquidity pool on Arbitrum has a TVL of $134K with a current APY of 30.7% and a 30-day average APY of 19%.
Powers leveraged gold tokens on Toros Finance deployed on Arbitrum.
Buyback program purchased 56,200 GMX, bringing total GMX bought back to 2.02 million, with activity increasing 42.6% over 30 days ending Feb 24, 2026, though 7-day activity decreased 59.7%.
Participates in an event hosted by Fluid with Chainlink, Dune, and others during Consensus Hong Kong on 2026-02-12, focusing on finance and tokenization.
More than 45,000 users hold GM or GLV LP tokens.
Achieved $6.76B in cumulative trading volume over the 30-day period ending around February 5, 2026.
Listed on Coinbase exchange.
GMX Labs funding proposal for 2026-2027 is live for voting on Snapshot.
Listed among anticipated perpetuals projects on Arbitrum for 2026, referenced as an L2 focused on high-speed execution, and in context of DeFi applications including GTE (DEX), Teko (lending), Valhalla (perps), Avon (order book lending), and Cap Money (stablecoin).
Suffered $42M exploit on Arbitrum V1 on July 9, 2025, due to a reentrancy vulnerability distorting GLP price, offered $5M recovery bounty.
updates open interest calculation method on December 22nd, altering funding and borrow dynamics at the contract level
Launched on MegaETH as 8th chain, offering BTC, ETH, SOL, and its first 24/7 RWA perpetuals (GOLD/USD, SILVER/USD) with up to 50x leverage via Chainlink oracles, featuring a stablecoin-only GLV vault for USDM deposits where LPs earn perpetual, swap, and GLV fees.
GMX ranks #10 among top crypto projects by revenue generation with -13% price performance over the past 30 days, compared alongside projects like Hyperliquid, Jupiter, Aave, and Lido during a market rotation toward revenue-generating protocols.
Period 2 rewards distributed for Botanix x GMX competition, which concludes on Monday December 15th.
Launched CC/USD perpetual trading pair with up to 25x leverage on Ethereum Mainnet, Arbitrum, Base, and BNB Chain. Expanded multichain scaling to Base, BNB Chain, and Ethereum Mainnet in Q4.
Launched mainnet incentives campaign, offering 75% fee discounts on gTrade and $300k+ in prizes for the Naughty or Nice trading competition, with points management experience being built.
DAO reacquired 105,770 GMX tokens for $680,000 at an average price of $6.43 between March 5 and April 7, 2026.
Generated $10.5M fees and $3.88M revenue in Q4 2025, with annualized fees at $41.64M. Distributes real yield from perpetuals trading fees to holders or uses fees for buybacks and burns, including 27% of fees used to remove 2.96M GMX tokens (28.54% of circulating supply) in 2025.
GMX is one of the top advertisers on Base network's new advertising model, which has generated $57K in revenue so far.
The GMTrade mobile app launches and is now available for users to trade on the Solana network.
Second round winners announced for Botanix partnership competition, with 40 qualified traders sharing 4,000 USD equivalent in stBTC rewards.
DAO reacquired 37,340 GMX tokens for $235,000 at an average price of $6.29 per token between March 25-31, 2026, under the Buyback & Distribute model. Current staking APR sits at 22.14%.
Period 1 rewards distributed for Botanix partnership program, with Period 2 snapshot scheduled for Monday.
Current weekly trading volume reaches $2.1B, and token unlocks near completion.
The project officially rebrands from GMXSOL to GMTrade and announces the upcoming launch of a mobile trading app.
GMXSOL officially rebrands to GMTrade and announces the upcoming launch of its mobile app for Solana-based trading.
MUX platform integration enables unified trading interface for routing trades to GMX v2, demonstrated by a user routing $353k in ETH through GMX v2 while managing other positions from a single window.
$500K retention bonus distribution completes for users who held GLV tokens throughout the 3-month GLP Distribution Plan retention period, now claimable in the dApp. The bonus distributes in GLV [WETH-USDC] and GLV [BTC-USDC] tokens on Arbitrum.
US Equities & ETF markets are now live on GMX-Solana platform. A mobile app for trading on Solana is in development.
Over 41,700 GMX tokens were repurchased this week through the Buyback & Distribute program, with current staking APR at 31.52%.
Whale activity on the platform enables opening a $52M BTC long position with negative fees. Botanix competition first round concludes with top 40 traders sharing $4,000 USD in stBTC rewards.
GMX integrates with Botanix platform, enabling users to mint exclusive Botanix Pioneer Trader NFTs with perks by making a trade.
GLP assets under management near $2.5M with a maximum cap set at $5M.
GMX users with substantial perpetual trading volume qualify for Infinex crate allocations, which contain vouchers redeemable for INX tokens during the upcoming Infinex TGE.
New platform Stimpak integrates with GMX to offer competitive perpetual trading through gamified Duels and Deathmatch tournaments with prizes.
Senate Agriculture Committee releases Boozman-Booker Bill draft that explicitly names GMX as a protocol benefiting from the new CFTC oversight framework, clarifying that smart-contract revenue sharing is not broker-dealer activity and protocol-level fee switches can operate under CFTC rules rather than SEC enforcement.
GMX's single-sided ETH liquidity pool integrates with Pendle Finance yield trading platform, allowing users to trade Yield Tokens representing fees and Principal Tokens redeemable for GM tokens at maturity.
The three-month GLV retention phase concludes on November 14, with a $500,000 retention bonus to be distributed to eligible holders who maintained their allocation. GLP from V1 is fully deprecated.
$500,000 retention bonus in GLV tokens will be distributed to holders who maintained their GLP Distribution Plan allocations through the three-month retention period ending November 14.
New DAO proposal outlines distribution of funds stuck in Archi Finance related to the July GLP V1 vulnerability affecting users.
Trading competition announced in partnership with Botanix offering $12,000 in stBTC rewards over 6 weeks across 3 rounds for BTC perpetuals trading.
GMX goes live on Botanix, a Bitcoin-based DeFi platform, offering perpetual and spot trading functionality.
Solana beta UI goes live, enabling user interface access for trading on the Solana chain.
Arbitrum holds more than 90% of total TVL.
DAO approved proposal to buy $110,000 worth of GT from GMXSOL monthly to support ecosystem growth and accelerate GT issuance. GMXSOL produced 1,751,592 GT in September with minting costs increasing 18%.
New Multichain functionality launches, expanding trading infrastructure to all major EVM chains without fragmenting liquidity.
Token bridging goes live on Stargate Finance, enabling cross-chain transfers to Solana and other future chains.
Botanix ecosystem integration now includes the protocol in its first batch of supported protocols alongside Bitzy, Arch Swap, and Morpho Labs.
Daily fees reached a record high exceeding $1M.
Integration with Chaos Risk Oracles enables real-time monitoring of open-interest caps, funding rates, and price impact parameters across 126 assets, securing over $500M in TVL.
The platform bought back 13% of total token supply year-to-date, representing the largest buyback percentage across 28 projects studied, with portions redistributed to holders.
Platform is one of the primary destinations for the $137.5B in stablecoin transfer volume processed on Arbitrum last month, as the network's stablecoin market cap hits $4.8B (up 31% in 30 days).
Gold market (XAUT/USD) is now live on the platform, with Tether Gold available for both perpetual and spot trading.
Integration with Dolomite lending market on Arbitrum provides looping and delta-neutral strategies for GM and GLV tokens with DRIP incentives.
Integration with Botanix now enables Bitcoin yield generation on the platform.
Risk Oracle systems now power automated parameter adjustments on the platform during volatility events, successfully preventing liquidation cascades during Friday's market stress as part of $10B in secured positions across multiple protocols.
V2 open interest has recovered to above $500M, indicating increased trading activity on the platform.
The platform has launched on BNB Chain, providing access to perpetual and spot trading markets for BNB Chain's 4.5 million daily active users.
MorphoLabs lending market integration now allows GLV [WETH-USDC] and GLV [WBTC-USDC] liquidity products to be used as collateral for borrowing on Arbitrum, enabling enhanced capital efficiency for liquidity providers.
Token price has dropped to single digits (below $10), marking a significant price level.
A major protocol upgrade featuring a 100% Stablecoin pool is coming soon to address current liquidity constraints and enable increased whale trading activity.
A new LINEA/USD perpetual trading market is now active, marking the 4th new perp market launch.
Multi-chain expansion planned for the coming weeks will enable trading from Binance Chain, Ethereum Mainnet, Berachain, Linea, and Plasma networks, with liquidity provision from these chains to be unlocked for horizontal scaling.
stBTC integration enables yield-bearing collateral functionality on the platform, allowing users to earn yields on their margin while trading in BTC.
Bitcoin Finance launches with GMX integration on Botanix blockchain, marking expansion into the Bitcoin Layer 2 ecosystem.
New Multichain dApp launches with Base blockchain integration, providing 1.3 million Base users access to 90+ Perpetual and 23 Spot markets with cross-chain trades executing in under one second.
Governance proposal for Season 3 Listing Committee Election is active on Snapshot, where community will vote for three members responsible for streamlining new asset listings.
The plvGLP chapter closes after July exploit repayment coordination via GLV partnership, transitioning value to new plvLOOP vault on Arbitrum.
The platform has been overtaken by Hyperliquid in the perpetual DEX market after previously competing with dYdX for the top position, indicating a shift in market dominance within the sector.
Six GMX assets including GLV tokens, GM tokens, and GMX can now be used as collateral for borrowing in Radiant's money market on Arbitrum.