๐๐ง ๐๐ถ๐ฟ๐ฑ๐ฟ๐ผ๐ฝ ๐ณ๐ผ๐ฟ ๐๐ ๐ซ ๐ฆ๐๐ฎ๐ธ๐ฒ๐ฟ๐ ๐ฎ๐ป๐ฑ ๐๐ง ๐๐๐๐ฏ๐ฎ๐ฐ๐ธ ๐ฆ๐ฒ๐ฎ๐๐ผ๐ป ๐ฎ
GM Labs is rolling out a GT airdrop for GMX stakers, rewarding average staked GMX over the snapshot window at a 1:1 ratio, with a ~100 GMX minimum.
GT Buyback Season 2 also begins: referral rewards remain at 50%โ100% of GT earned by referees through trading, scaling with VIP tier. Referral quotas are the only route to sell GT into the buyback.
On GMTrade, buybacks will run daily, with ~99% of protocol fees now flowing into the buyback and ~1% going to LPs. LPs continue to earn GT through staking and benefit directly from the stronger buyback.
The most bullish AMM news today is not the official statement, but the comment letter from SEC Commissioner @HesterPeirce that went along with it
โTruly decentralized systems that are driven by autonomous softwareโฆ do not need need an exemptionโ (Aka normal permissionless Uniswap)
The exemption applies to permissioned pools on Uniswap v4, creating a pathway for compliant trading in the US for assets and users where this is needed
This can be incredibly useful for amm adoption, and we will be submitting a comment letter with proposed improvements
https://t.co/WOOau5GzWK
Establishing a $10M GMX Market Making Fund
GM Labs is establishing a $10M market-making fund for the GMX token, funded from the treasury. The fund will use the protocolโs combined Open Interest across all chains as its reference...
Full details belowโฌ๏ธ
Crypto, commodities, ETFs and equities, all trading on-chain 24/7. Denaria has now built a mobile front-end on top of these GMX markets on Arbitrum.
It's great to see our deep liquidity reaching traders through new interfaces.
On X, ZZZ, and GMX
X, GMX's original lead developer, has stepped back from active development and is nowadays an advisor to GMX. He has personally confirmed that he deployed $ZZZ on Robinhood Chain this weekend.
The wallet used for that is not an active GMX deployer and is not connected to any active GMX V2 contract. It is an original personal deployer, the same one also previously used to launch XVIX, a project that preceded GMX.
GMX moved to fresh deployer wallets long before this deployment, as part of an OpSec upgrade implemented in coordination with X. Those new wallets are not controlled by individuals and have additional security safeguards.
X has renamed his personal Twitter account to @ExponentLabs_ and has started setting out an AI-focused vision for autonomously evolving protocols there.
He is building this project outside GM Labs (@GMLabsHQ), the company behind GMX and GMTrade, so GMX has no link to it beyond his advisory role. Anyone curious about what he is building can follow him there.
Live on GMX: QQQ/USD and SPY/USD perps, wave 1 of the TradFi expansion.
24/7 trading of the Invesco QQQ Trust and SPDR S&P 500 ETF, even outside US market hours.
Backed by the GLV: [WETH-USDC] liquidity vault on @Arbitrum; priced by low-latency @Chainlink Data Streams.
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Build with CMC (DIY): How to Build a GMX Trading Bot
Build a GMX trading bot with CoinMarketCap API using momentum signals, market regime logic, Python examples, and GMX execution.
Learn More
https://t.co/M7DJd8KRZC