GMX launches a SHIB perpetual futures market on Arbitrum
The SHIB/USD perpetual swap market is a synthetic GMX V2 market supported by a WETH/USDC pool
GMX announces another popular meme asset for trading, following the listing of WIF and PEPE: SHIB (Shiba Inu). A perpetual futures market for the SHIB token is now live on GMX V2 on the Arbitrum blockchain.
The SHIB/USD market is a synthetic market backed by a WETH/USDC liquidity pool. A price feed for the SHIB token is being provided by Chainlink Data Streams, offering GMX traders sub-second pricing updates and rapid execution speed.
Liquidity & market parameters
The SHIB market is a synthetic SHIB/USD perpetual swap market, supported by WETH/USDC as the backing assets in its GM liquidity pool. Spot trading of SHIB is not facilitated by this synthetic market.
Liquidity providers can now deposit WETH or USDC into the GM liquidity pool for SHIB/USD, to support trading on GMX and earn a large share of the generated pool fees.
Bonus ARB rewards will be airdropped weekly to early liquidity providers to the SHIB pool. These liquidity incentives are part of GMX’s Arbitrum STIP-Bridge campaign, aimed at bootstrapping market liquidity.
GMX security partner Chaos Labs has provided recommendations for the new market’s initial listing parameters.
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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.
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