GMX introduces BONK, WLD and TAO perpetual swaps
Three new perpetual swap markets have just launched on GMX: TAO/USD, BONK/USD, and WLD/USD. Liquidity will be dynamically allocated to the GM pools backing these synthetic markets through GLV.
GMX users can now trade BONK/USD, WLD/USD (Worldcoin) and TAO/USD (Bittensor) perpetual swaps with up to 50x on GMX, while benefitting from self-custody, deep liquidity and lightning-fast onchain execution on Arbitrum.
Exec Summary
GMX lists BONK, TAO and WLD perpetual swap markets
TAO/USD GM pool added to GLV [BTC-USDC]
BONK/USD and WLD/USD GM pools added to GLV [WETH-USDC]
Mint GLV now to provide liquidity on GMX with optimal capital efficiency
Low-latency price feeds for the three assets are supplied by Chainlink Data Streams
GLV Liquidity & Market Parameters
All three new markets are synthetic: they track the price of BONK, WLD, and TAO, but are backed by GM liquidity pools that do not contain these same assets. The WLD/USD and BONK/USD markets are supported by WETH-USDC pools, while the TAO market is supported by a BTC-USDC liquidity pool.
This synthetic market structure allows users to trade BONK, TAO and WLD perpetual swaps at up to 50x via app.gmx.io, without requiring native liquidity for these tokens on Arbitrum. Robust price data is provided by Chainlink Data Streams, the leading low-latency oracle solution optimised for Perpetual DEXes. Spot trading for these three assets is not available on GMX.
The BONK and WLD liquidity pools have been included in GLV [WETH-USDC], the auto-optimising GMX Liquidity Vault with a 50/50 WETH/USDC composition. The TAO liquidity pool has been added to GLV [BTC-USDC] instead. GLV will automatically direct liquidity to these markets to meet trader demand.
GLV can be considered an upgraded version of the GLP pool from GMX V1. It functions as an index of GM pools, dynamically reallocating liquidity to those pools that have the highest utilisation. As a result, GLV offers liquidity providers a well-balanced product that delivers excellent risk-adjusted returns and maximises capital efficiency.
How to Provide Liquidity to GLV or a GM Pool
Choose your desired liquidity pool in the drop-down menu under Buy GM, or under ‘Pools’. Alternatively, select GLV to provide liquidity to GMX’s new auto-optimising liquidity vault, which offers balanced exposure to various GM pools.
Click the Buy button
Enter the amount you would like to supply to support trading on GMX and earn rewards with
Click the blue Buy button, and confirm the token allowance and onchain transaction
Exposure as a Liquidity Provider
Please note: As a liquidity provider in GLV or any of GMX’s GM liquidity pools, you are:
exposed to price movements of the underlying asset(s)
subject to trader PnL, as long as the pool is not precisely 50:50 balanced between Longs and Shorts. Adaptive funding rates typically bring the pool back to balanced Open Interest, resulting in only a small (and generally positive) effect on LPs from trader PnL in the long term.
earning fees from market making and trading activity at the pool’s listed rate (estimates are based on the past seven days’ performance). These fees are auto-compounded into the pool, automatically increasing the value of your GM tokens.
For a comparison of the performance of the GM pools against other benchmark LP positions, please visit the GMX Dune Dashboard.
Join the GMX community:
Website: https://gmx.io/
Twitter: https://twitter.com/GMX_IO
Telegram: https://t.me/GMX_IO
Announcements: https://t.me/GMX_Announcements
Discord: https://discord.gg/H5PeQru3Aa
Github: https://github.com/gmx-io
Documentation: https://docs.gmx.io/