GMX Summer Boost is coming to Avalanche: provide liquidity and trade perpetuals to grab your share of AVAX rewards
Stimulus funds from the GMX Summer Boost campaign are being distributed as liquidity and trading incentives over 12 weeks.
Sizable AVAX rewards are coming to GMX users during GMX Summer Boost, an incentive program facilitated by GMX and the Avalanche Foundation that starts on 3 July. GMX users on Avalanche will profit from the following Boost incentives:
Liquidity Incentives will be distributed to the GM pools on Avalanche to deepen market liquidity and minimise slippage. These rewards will boost liquidity providers' returns and boost the user experience for on-chain traders.
Additionally, GMX traders on Avalanche will enjoy an additional boost: an up to 75% discount on their open and close fees.
Liquidity incentives
Starting July 3, enjoy boosted rewards on the following GM pools on Avalanche:
AVAX/USD [WAVAX-USDC]
AVAX/USD [WAVAX]
BTC/USD [BTC-USDC]
BTC/USD [BTC]
ETH/USD [ETH-USDC]
ETH/USD [ETH]
DOGE/USD [WAVAX-USDC]
XRP/USD [WAVAX-USDC]
SOL/USD [SOL-USDC]
LTC/USD [WAVAX-USDC]
Provide liquidity to GMX’s market-leading GM pools on Avalanche and start earning boosted farming rewards now:
Any new GM markets added on Avalanche during the GMX Summer Boost campaign period will also receive boosted rewards.
Trading incentives
As part of the GMX Summer Boost campaign, GMX is letting all Avalanche traders benefit from a 75% rebate on their open and close fees.
This Boost discount brings GMX's trading fees to a level comparable to the VIP tiers of leading centralised exchanges, making it highly attractive to start trading on-chain now.
Experience permissionless trading on GMX with fast execution and minimal fees:
At the end of every weekly campaign epoch, trading fee rebates will be paid out in gmAVAX+ tokens for all qualifying trades.
Distributing gmAVAX+ rewards
Please note: all Boost incentives from the campaign on Avalanche will be paid out as gmAVAX+ tokens.
These gmAVAX+ tokens represent AVAX tokens that are being used in GMX’s single-asset liquidity pool for the AVAX-USD market on Avalanche. In other words, they are regular AVAX tokens actively providing liquidity to the single-sided AVAX/USD [WAVAX] pool.
You can find this AVAX/USD [WAVAX] pool in the list of Avalanche GM pools in the GMX dApp, where it appears as the second pool on the list.
By providing incentives in this form, GMX ensures maximum capital efficiency and encourages users to actively engage with the Avalanche DeFi ecosystem. However, as with all GMX liquidity pools, the gmAVAX+ tokens are not locked in the pool. Users are free to use their rewards as they wish.
Incentives will be distributed weekly, with each week of the campaign referred to as an epoch. Once an epoch ends, GMX users will receive their earned rewards directly in their wallets via airdrop.
About the Boost campaign
GMX Summer Boost is a part of Avalanche Boost, a liquidity incentive program by the Avalanche Foundation designed to drive user engagement.
The campaign follows the exponential growth driven by the successful Avalanche Rush program between mid-2021 and early 2022.
Details of the Boost incentives:
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.