GMX V2 Beta is now live!
The second iteration of the GMX protocol is now live on Arbitrum and Avalanche mainnet! To start trading on the new crypto asset markets or provide liquidity for them, please refer to the guides below
GMX V2 Beta can be accessed via: https://app.gmx.io/#/v2
GMX V2 Beta features:
New assets are now available for trading: these include SOL, XRP, LTC, DOGE, & ARB on Arbitrum, and SOL, XRP, LTC, and DOGE on Avalanche. Additional V2 markets will be added in the future.
Multiple collateral types can be used for trading positions. For example, a 0.1 ETH position can be opened with 1 ETH of collateral, for a low-cost and low-leverage ETH long.
Faster execution speed and lower slippage. The new oracle system signs prices every block. This helps to ensure that orders get executed at the closest execution price possible, even if there are a high number of transactions.
Low-fee swaps of 5-7 bps. Traders now pay just 0.05% to 0.07% to swap between crypto assets.
For Liquidity Providers:
Isolated pools: Liquidity in V2 is provided through isolated GM (GMX Market) Pools. This allows liquidity providers to customize their exposure to only the tokens which they prefer.
Long / Short balancing incentives: V2 has increased incentives for open interest for longs and shorts to be balanced. This balance helps to automatically hedge liquidity providers against trader profits.
Swap incentives: Increased swap incentives help to keep the tokens in the pool balanced, allowing the GM Pool token’s price to track the price of the underlying tokens more closely.
GMX V2 comes with many other new features as well. To learn about all of them, please consult the Guides below.
GMX V2 Guides:
Trading guide: https://docs.gmx.io/docs/trading/v2
Providing liquidity guide: https://docs.gmx.io/docs/providing-liquidity/v2
As V2 is just recently live, liquidity for the V2 markets may initially be low.
This beta release uses a similar oracle system to GMX V1, as the contracts have been tested and audited based on this system.
Our next steps will be to upgrade this beta release version to integrate Chainlink's low-latency oracles. The switch to Chainlink oracles will not impact user experience and will not require any liquidity migration.
We invite you to share your experience with the GMX V2 markets!
Please report any bugs to: https://discord.com/channels/837652500948713502/887140734996713522
And post your other feedback to: https://discord.com/channels/837652500948713502/953636725727576074
We will pass this on to the contributors to further improve the on-chain trading experience.
Connect with GMX
Technical Updates: https://t.me/GMX_Technical_Announcements