GMX realises the primary Perp DEX listing of the new DOLO token
Traders can now permissionlessly trade perpetuals for the DOLO token from Dolomite with up to 50x leverage
GMX is the first onchain exchange to launch a perpetual swap market for the DOLO token from the popular money market Dolomite, which has just had its Token Generation Event. The Day 0 listing creates interesting opportunities for DeFi traders, DOLO airdrop recipients, and potential liquidity providers.
Exec Summary
GMX has created a perps market for DOLO/USD on Arbitrum
The synthetic DOLO/USD perpetual swap is supported by a WETH-USDC liquidity pool
The DOLO/USD GM pool has been integrated into the GLV: WETH-USDC vault, facilitating dynamic liquidity allocation for the new markets
DOLO Market Details
The DOLO/USD market offers perpetual swaps for the just-launched token from Dolomite, a next-generation decentralised money market protocol. The market reliably tracks a price average of DOLO/USD using a low-latency Chainlink Data Streams feed, enabling seamless trading with up to 50 leverage.
The market is synthetic, supported by a GM liquidity pool holding WETH and USDC. You can provide liquidity to this GM pool using either WETH or USDC on Arbitrum, to earn rewards from trading activity and market-making.
Users can also easily provide liquidity to a range of GMX’s performant synthetic markets, including DOLO/USD, through GLV. For more details about these opportunities as an LP on GMX, see the Liquidity section below.
Dolomite has been a key partner of GMX, supporting numerous GMX assets as collateral in its money market, including GLV ETH, GLV BTC, and 14 different GM liquidity tokens. The protocol’s capital-efficient lending and borrowing markets are live on Arbitrum, Berachain and Mantle.
Liquidity: GLV Vaults and GM Pools
There are two opportunities available for liquidity providers on GMX:
Purchase GM tokens to provide liquidity to a single isolated pool, allowing you to earn 63% of all trading and market-making fees that specific pool generates. These fees are auto-compounded into the GM token price for you.
Alternatively, you can purchase GLV tokens to provide liquidity across a range of synthetic GMX markets based on that liquidity pair (e.g., BTC-USDC or WETH-USDC).
The GLV vaults offer a straightforward way to provide liquidity, similar to GLP from GMX V1. It is an innovative vault solution built on top of the individual GM liquidity pools.
GLV contains multiple GM tokens, and automatically rebalances its liquidity towards the best-performing GM pools. This model maximises capital efficiency for liquidity providers, while ensuring that liquidity is directed toward markets with high demand.
Data for Liquidity Providers
Insightful data dashboards are available for users providing liquidity on GMX. To assess the base performance of the GLV vaults on Arbitrum and Avalanche, visit:
https://dune.com/gmx-io/gmx-analytics#v2-glv-pools
This section of the main GMX Analytics Dashboard displays the long-term price trends of the two GLV vaults, and compares GLV’s performance to that of a standard Uniswap V2 LP position with the same two assets (the Benchmark Comparison).
To view the long-term price development of GM and see how GM pools perform against a standard Uniswap V2 LP position with the same assets, check out:
https://dune.com/gmx-io/gmx-analytics#v2-gm-pools
For detailed performance data on the isolated GM pools, as well as GLV [BTC-USDC] and GLV [WETH-USDC], please visit the upgraded V2 LP Dashboard:
https://dune.com/gmx-io/v2-lp-dashboard
This Dashboard allows you to compare the performance of GM and GLV against each other, as well as against any of the following benchmarks, across multiple timeframes:
- Uni V2 Positions (Long-Short)
- The Long Token
- The Short Token
- Any other GM pool or GLV
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/