GMX introduces SUI/USD and SEI/USD perpetual swaps
The new markets for SUI and SEI are synthetic, backed by WETH-USDC liquidity pools. Liquidity is dynamically allocated to these GM pools through GLV.
Perpetual futures markets for SUI/USD and SEI/USD have been launched on GMX V2 on Arbitrum. Users can now trade both popular tokens at up to 50x via app.gmx.io, benefitting from rapid onchain execution, deep liquidity, and self-custody.
GMX aims to build out a decentralised finance ecosystem that provides highly liquid on-chain markets for traders, and offers users efficient earning opportunities through straightforward liquidity products. In line with this vision, GMX is launching perpetual swap markets for SUI and SEI, with liquidity facilitated by the new GMX Liquidity Vault (GLV).
Exec Summary
GMX lists SUI/USD and SEI/USD perp swaps
SUI/USD and SEI/USD included in GLV [WETH-USDC]
Mint GLV to provide liquidity with optimal capital efficiency
High-performance price feeds are provided by Chainlink Data Streams
Market Parameters & Liquidity
The new perpetual swap markets are synthetic in nature, supported by underlying WETH-USDC liquidity pools. Users can trade SUI and SEI with up to 50x leverage, but these markets do not support spot swaps.
Additionally, the SUI and SEI liquidity pools have been added to GLV [WETH-USDC], the new GMX Liquidity Vault. This ensures that liquidity automatically shifts to these pools to meet trader demand.
GLV ensures that liquidity constantly flows to the markets that need it the most. This unique mechanism enables GLV to support numerous synthetic markets at the same time. It optimises capital efficiency for GLV liquidity providers, by channelling their deposits to the markets with the highest utilisation and returns.
Read more about GLV and its advantages in the launch announcement here.
Price feeds for SUI and SEI are provided by Chainlink Data Streams, the low-latency oracle solution designed specifically for Perp DEXes, for which GMX is the exclusive launch partner.
Providing Liquidity to GLV or a GM pool
Visit https://app.gmx.io/#/pools/ or click the blue button above
Select your desired liquidity pool in the drop-down menu under Buy GM, or under ‘Pools’. Or, select GLV to provide liquidity to GMX’s new auto-optimising liquidity vault, which offers balanced exposure to a mix of GM pools.
Click the Buy button
Input the amount you would like to supply to support trading on GMX and earn rewards on
Click the blue Buy button, and confirm the token allowance and onchain transaction
Please note: As a liquidity provider in any of GMX’s single-asset or dual-asset GM liquidity pools, you are:
exposed to the price movements of the underlying asset(s)
exposed to trader PnL, as long as the pool isn't precisely 50:50 balanced between Longs and Shorts. Funding rates generally 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 price of your GM tokens.
To compare the strong performance of the GM pools with other benchmark LP positions, please visit the GMX Dune Dashboard.
Connect With GMX:
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/
Disclaimer
This announcement is for informational purposes only and does not constitute legal, financial, or investment advice. GMX or any other parties make no warranties or representations regarding the accuracy, completeness, or suitability of the information presented and will not be liable for any losses, damages, or adverse consequences that may arise in relation to this announcement.
It is strongly advised to undertake your own due diligence and seek advice from relevant professionals before making decisions based on this announcement.
<3 GLV.