GMX is now live on Botanix, becoming a first-mover on the new Bitcoin Layer 2 blockchain

Botanix users can now trade and provide liquidity on GMX, enjoying the best in Bitcoin-native leverage trading and yield opportunities on a permissionless, battle-tested, and transparent platform.

Jul 02, 2025

GMX, the leading self-custodial multichain trading solution, has deployed its Perpetual DEX and liquidity infrastructure on Botanix's Spiderchain, marking its first entry into the Bitcoin ecosystem. The strategic move unlocks native Bitcoin trading and yield opportunities, leveraging Botanix's EVM-compatible Layer 2 infrastructure.

Exec Summary

GMX has successfully deployed on Botanix Labs’ Bitcoin Layer 2 blockchain
Botanix’s Spiderchain offers low fees, relatively fast block times, as well as full compatibility with the Ethereum Virtual Machine
Launch brings native Bitcoin trading to GMX, unlocking many new opportunities
Put idle BTC to work by bridging and depositing into GMX’s GM Pools, and earn yield on your Bitcoin

GMX V2 on Botanix: Bridging Bitcoin & DeFi

The hybrid GMX deployment introduces a dedicated Bitcoin market on Botanix, enabling trades to be secured, settled, and collateralised with BTC. This integration offers Bitcoin holders a smooth entry into DeFi, allowing them to maintain self-custody and eliminating the need for wrapped assets or centralised bridges.

Get started with on-chain Bitcoin finance by bridging to Botanix: https://botanixlabs.com/mainnet

Bitcoin Market Details:

At launch, GMX on Botanix will provide traders and liquidity providers with a single, liquid BTC/USD market. This primary Bitcoin market will be supported by two underlying liquidity pools, which enable anyone to provide liquidity and earn fees from multiple sources — leverage trading, passive market making, and spot swaps:

GM: BTC/USD [STBTC-STBTC]
GM: BTC/USD [STBTC-USDC.E]

Note that stBTC is staked, liquid Bitcoin on Botanix, automatically earning native Bitcoin yield from transaction fees on the network. USDC.E is a well-known bridged version of the USDC token issued by Circle, which is bridgeable via Stargate.

The [STBTC-STBTC] liquidity pool on GMX is thus a single-asset pool, backed solely by Bitcoin. The [STBTC-USDC.E] pool is a dual-asset pool, backed 50:50 by Bitcoin and the USDC stablecoin. Traders and liquidity providers can choose either pool according to their preferences.

For instructions on how to provide liquidity on GMX on Botanix, or how to trade Bitcoin there, please see the following tutorial video:

Why GMX on Botanix:

The Botanix EVM inherits finality from Bitcoin's Proof-of-Work blockchain. With Botanix's average transaction fees around $0.02 and block times of approximately six seconds, users can expect a cost-effective trading experience. While longer block times are required to achieve transaction finality, the UX will resemble that of existing GMX deployments.

The expansion to Botanix underscores GMX's commitment to pioneering decentralised trading solutions across all major blockchain ecosystems – now including Bitcoin. Alisia Painter, COO and co-founder of Botanix Labs, emphasises the significance of the new GMX deployment:

“The launch of GMX on Botanix is a significant step forward for Bitcoin-native DeFi and the Bitcoin ecosystem in general. For the first time, Bitcoin holders can trade, earn yield, and participate in a fully permissionless DeFi ecosystem, all without wrapping their BTC or leaving the Bitcoin security model…

GMX on Botanix gives Bitcoiners the tools they have been waiting for: real leverage trading and yield on a platform that is as battle-tested as it is innovative, fully decentralised and powered by Bitcoin.”

Strategic Advantages for GMX

By launching on Botanix's Spiderchain, GMX can:

Access a New User Base: Tap into the Bitcoin community, offering them native BTC trading with self-custody and GMX’s market-leading yield opportunities.
Offer Secure Settlement: GMX can leverage Bitcoin's robust security for trade settlement, minimising counterparty risk.
Foster Ecosystem Growth: Collaborate with Botanix Labs and other key DeFi partner protocols, such as Chainlink and Dolomite, to drive continued adoption and innovation.

Coinflipcanada, GMX core contributor focused on ecosystem and strategy, explains the broader vision:

“We believe that Bitcoin is reaching an inflection point in scalability, akin to what Arbitrum and other L2s achieved in unlocking new use cases on Ethereum. When it comes to Botanix, we have observed a strong commitment to ecosystem development, with significant momentum from both native and established DeFi partners."

Technical Feasibility and Infrastructure

Botanix's Spiderchain offers full EVM compatibility, ensuring that GMX's smart contracts can be seamlessly deployed and executed.

The integration is further supported by crucial infrastructure providers, including Chainlink DataStreams, Gelato Network, RPCs, and subgraphs, ensuring a robust DeFi ecosystem for users.

GMX partner Dolomite, a popular borrowing and lending market, is also deploying on Botanix, as are numerous other protocols.

About GMX

GMX is the go-to non-custodial exchange for trading perpetuals and spot, providing a seamless trading experience across many popular public blockchains.

The permissionless multichain DEX offers deep liquidity, low swap fees, and up to 100x leverage. It features one-click trading, support for numerous collateral types, and reliable sub-second oracle pricing through Chainlink Data Streams.

Liquidity provision on GMX is democratic: the permissionless protocol enables anyone to make markets and earn fees. Thanks to its robust trading and liquidity infrastructure, GMX serves as a foundational baselayer for the multichain DeFi ecosystem.

About Botanix Labs

Botanix Labs is building the first fully decentralised EVM-equivalent L2 on Bitcoin, combining the ease of use and versatility of the EVM with the decentralisation and security of Bitcoin.

The project leverages Bitcoin’s Proof of Work (PoW) as the underlying settlement and decentralised Layer 1, while adopting a Proof of Stake consensus model. Stake (represented in Bitcoin) is securely stored on the distributed network ‘Spiderchain’, secured by a randomly selected subset of participants through decentralised multi-signatures.