GMX launches MEW, FLOKI, MEME & BOME perpetual swaps
Four new meme markets are now live for trading on GMX: MEW, FLOKI, MEME, and BOME. Liquidity is dynamically allocated to the GM pools supporting these synthetic markets through GLV.
GMX is excited to introduce four new markets on Arbitrum: MEW/USD, FLOKI/USD, MEME/USD and BOME/USD. Users can now trade these perpetual swap contracts while enjoying self-custody, deep liquidity and blazing-fast onchain execution.
Exec Summary
GMX lists MEW, FLOKI, MEME and BOME perpetual swaps
All four meme markets have been added to GLV [BTC-USDC], to auto-optimise their liquidity
Mint GLV now, to provide liquidity on GMX and earn with maximum capital efficiency
Chainlink Data Streams supply low-latency price feeds for all four assets
GM Market Parameters
The FLOKI, MEME, MEW and BOME markets are oracle-based, synthetic perpetual swaps. They allow users to trade these memes with up to 50x, without requiring native liquidity for the tokens on Arbitrum.
The synthetic markets reliably track the market price of these meme tokens, while being backed by GM liquidity pools containing BTC-USDC. Learn more about how GMX’s synthetic markets work by clicking here.
Dependable price data is provided by Chainlink Data Streams, the leading low-latency oracle solution for Perpetual DEXes. Please note that Spot trading for these meme tokens is not available on GMX.
GMX Liquidity Vaults
The FLOKI, MEME, MEW and BOME markets have been included in GLV [BTC-USDC], the auto-optimising GMX Liquidity Vault (GLV). GLV will automatically direct liquidity to these markets based on their utilisation, to help meet trader demand.
GLV can be considered an improved version of the GLP pool from GMX V1. It functions as an index of GM pools, dynamically reallocating liquidity to those pools with the highest utilisation. As a result, GLV offers liquidity providers a well-balanced product that maximises capital efficiency and delivers market-leading risk-adjusted returns.
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 vaults, which offer balanced exposure to an index of GM pools
Click the Buy button
Enter the amount you would like to supply to support trading on GMX and earn with
Click the blue Buy button, and confirm the token allowance and onchain transaction
Exposure as an LP on GMX
As a liquidity provider in any of GMX’s innovative 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 performance of the past seven days). These fees are auto-compounded into the pool, automatically increasing the value of your GM tokens.
There are no lock-up periods for providing liquidity on GMX; you can exit your GM or GLV position whenever you want.
For a comparison of the performance of the GM pools against other benchmark LP positions, please refer to 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/
4 at once; let's gooooo!