Tradao is the first onchain permissionless copy trading & data analysis platform for @GMX_IO
Derivative
Joined April 2023
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- Followers17K
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Tradao retweeted
The GMX DAO community has addressed key questions around the distribution plan for the recovered GLP funds. A follow-up vote is expected to go live on Snapshot tomorrow, Thursday.
Once the results of this vote are in, the distribution of the funds to users will begin.
Tradao retweeted
Our initial analysis of today’s GLP exploit, conducted in collaboration with our security partners and lead auditor, still confirms that the attack vector is specific to GMX V1. The manipulation involved relates to the calculation of the short average price on V1, and the same calculation mechanism is not employed in the GMX V2 contracts.
Out of an abundance of caution, GMX had already updated the caps for the GM tokens of GMX V2 on Arbitrum and Avalanche, so that minting new tokens is currently restricted in most liquidity pools. A follow-up notification will be sent out once this restriction is lifted.
GMX will provide a detailed post-mortem analysis publicly, as soon as the investigation into the incident is complete.
The GLP pool of GMX V1 on Arbitrum has experienced an exploit. Approximately $40M in tokens has been transferred from the GLP pool to an unknown wallet.
Security has always been a core priority for GMX, with the GMX smart contracts undergoing numerous audits from top security specialists. So, in this hands-on-deck moment, all core contributors are investigating how the manipulation occurred, and what vulnerability may have enabled it.
Our security partners are also deeply involved, to ensure we gain a thorough understanding of the events that occurred and minimise any associated risks as quickly as possible. Our primary focus is on recovery and pinpointing the root cause of the issue.
Actions taken:
Trading on GMX V1, and the minting and redeeming of GLP, have been disabled on both Arbitrum and Avalanche to prevent any further attack vectors and protect users from additional negative impacts.
Scope of the vulnerability:
Please note that the exploit does not affect GMX V2, its markets, or liquidity pools, nor the GMX token itself.
Based on the available information, the vulnerability is limited to GMX V1 and its GLP pool.
As soon as we have more complete and validated information, a detailed incident report will follow.
Tradao retweeted
The GLP pool of GMX V1 on Arbitrum has experienced an exploit. Approximately $40M in tokens has been transferred from the GLP pool to an unknown wallet.
Security has always been a core priority for GMX, with the GMX smart contracts undergoing numerous audits from top security specialists. So, in this hands-on-deck moment, all core contributors are investigating how the manipulation occurred, and what vulnerability may have enabled it.
Our security partners are also deeply involved, to ensure we gain a thorough understanding of the events that occurred and minimise any associated risks as quickly as possible. Our primary focus is on recovery and pinpointing the root cause of the issue.
Actions taken:
Trading on GMX V1, and the minting and redeeming of GLP, have been disabled on both Arbitrum and Avalanche to prevent any further attack vectors and protect users from additional negative impacts.
Scope of the vulnerability:
Please note that the exploit does not affect GMX V2, its markets, or liquidity pools, nor the GMX token itself.
Based on the available information, the vulnerability is limited to GMX V1 and its GLP pool.
As soon as we have more complete and validated information, a detailed incident report will follow.
Tradao retweeted
Why trade on GMX in 2025?
Here’s why it’s still the DEX for onchain natives 👇
🔹 Fully permissionless. 100% self-custody. No deposits. No middlemen. Trade straight from your wallet.
🔹 Transparent & verifiable. All data on public chains. What you see is what the protocol sees.
🔹 Deep liquidity. Plus you get zero price impact on BTC & ETH on their single-asset pools.
🔹 100x leverage when you need it.
🔹 Lower liquidation risk. Transparent #Chainlink Data Streams oracles prevent CEX-style price spikes and unfair liquidations.
🔹 1-Click Trading = true DEX flow, with a CEX feel. No wallet popup spam, just streamlined onchain execution.
🔹 Trade 70+ assets w/ deep liquidity. BTC, ETH, SOL, LINK, FARTCOIN, meme coins & more.
🔹 Use your favorite collateral. Long BTC w/ BTC, short SOL w/ SOL, or even long ETH w/ stETH or USDe to earn yield while you trade.
🔹 Funding farming strategies? Multi-collateral support makes it easy. No other Perp DEX does this better.
🔹 Battle-tested. 6+ audits, $5M bug bounty, zero significant exploits.
Bonus:
🌍 GMX is on #Arbitrum, #Avalanche, and #Solana, and is actively expanding across Base, Sonic, Berachain, & more. Remember the name: GMX Multichain. You'll hear a lot about it this year.
Tradao retweeted
GMX on BTC?😏
Bitcoin Finance is growing on Botanix. @GMX_IO is looking to launch a Bitcoin-native version of its exchange on the network.
Here are the details:
Tradao retweeted
Establishing the GMX Reserve for GMX Solana
We are pleased to announce that now is an opportune time to establish the GMX reserve for GMX Solana, in light of the upcoming bridging of GMX to the Solana. To this end, we will be carrying out the following operation:
Background:
- 49,783 GMX has been purchased at an average price of $10.04, totaling 500,000 USDC.
- The acquired GMX has been withdrawn to an Arbitrum address.
arbiscan.io/address/0x807989…
- All the GMX has transferred to the GMX Treasury (Tally) for temporary custody.
arbiscan.io/tx/0x1fe2b36cd70…
tally.xyz/gov/gmx/treasury
1. 500,000 USDC should be transfered from GMX Solana Treasury to the operation team to complete the buyback via its 5/7 multisig. The proposal for this operation is:
app.squads.so/squads/3j2gq4Z…
2. Upon completion of the GMX bridge to Solana, the GMX Treasury should transfer the custodied GMX to the GMX Solana Treasury. The GMX Solana Treasury will then use the entirety of this GMX to purchase GM in the GM:GMX-USDC pool, as previously agreed.
Impacts following step 1:
- A temporary decrease in the asset value of the GMX Solana Treasury will be observed—from approximately $540,000 down to $40,000—until the GMX bridge is settled.
- The daily maximum buyback value for GT will be limited to 1,600 USDC until the GMX bridge is completed.
We appreciate your continued support and understanding as we take this important step toward strengthening the GMX Solana.
Tradao retweeted
祝贺 Tradao 获得推荐收入#15！
他们当之无愧地展示了优秀的交易者和复制交易
如果您是 KOL 并喜欢被动推荐收入，
创建您自己的代码并传播给您的朋友
app.gmx.io/#/referrals
🚀 Tradao have absolutely crushed it this time! We’ve fought our way through the ranks of @GMX_IO's top affiliates and snagged an insane milestone!
🏆Rank: 15th
💵Trading Volume: $1.13B
👫Referrals: 233
🔢No. of Trades: 23,733
Big thanks to every single one of you who’s supported us. We’re not slowing down—more surprises are coming your way! 💪
Tradao retweeted
GMX剛發了個公告，簡單來說就是有問題的是 @MIM_Spell 那邊一個跟GM有關的池子被攻擊了，並不是GMX自已的合約被攻擊，GMX整體的合約安全並沒有受影響，後續有新的公告會繼續更新。
Tradao retweeted
Important security notice:
There appears to have been an exploit related to Abracadabra/Spell's cauldrons that utilise GM tokens, as noted by PeckShield and other security specialists monitoring the blockchain.
To clarify, no issues have been identified with GMX contracts, and they are not affected by this unfortunate situation.
We believe the issue relates solely to the Abracadabra/Spell cauldrons. These cauldrons allow for borrowing against specific GM liquidity tokens.
The contributors from Spell, GMX, and security researchers are currently investigating the cause of the issue.
Tradao retweeted
給大家分享個有趣的事，剛剛在Hyperliquid上獲利的那位內幕大神最初於2月3日在GMX上玩，最高盈利達$2M，後來估計發現了Hyperliquid，於2月20日開始存入第一筆資金，並從22日起在Hyperliquid和GMX下對沖單。之後，他以在GMX上虧損$2M換來在Hyperliquid大賺$10M，成為備受關注的內幕哥。
如今回頭看，這位巨鯨離開GMX是好是壞真不好說😂
以下是內幕哥在GMX和Hyperliquid的表現：
GMX: tradao.xyz/#/user/0xe4d31c25…
Hyperliquid: hyperdash.info/trader/0xe4d3…
Here’s an interesting tidbit to share with everyone: That insider trading guru who just made a killing on Hyperliquid started out playing on GMX on February 3rd, with peak profits hitting $2M. Later, he likely discovered Hyperliquid, depositing his first funds there on February 20th and starting to place hedged bets on both Hyperliquid and GMX from the 22nd onward. After that, he took a $2M loss on GMX but turned it into a massive $10M gain on Hyperliquid.
Looking back now, it’s hard to say whether this whale leaving GMX was a good or bad move 😂.
Here’s how Insider Bro performed on GMX and Hyperliquid:
GMX: tradao.xyz/#/user/0xe4d31c25…
Hyperliquid: hyperdash.info/trader/0xe4d3…
Tradao retweeted
Tuesday 9:30am EST with @GMX_IO @pendle_fi @Tradaoperp @KnightSafeTeam @offchain
Join us with some of the biggest brains on Arbitrum and learn how they're building for the Next-Gen of DeFi users!
xitter.cf/i/spaces/1kvJpbOvbmDKE…
Tradao retweeted
How are we building for the Next-Gen of DeFi users?
Come by next Tuesday, Dec 10th, 9:30am EST and join us with some of the biggest brains on Arbitrum making it happen! 🫡
@GMX_IO
@pendle_fi
@Tradaoperp
@KnightSafeTeam
@offchain
xitter.cf/i/spaces/1kvJpbOvbmDKE
Tradao retweeted
GMX is introducing a 25% reduction of Open & Close fees on select markets:
On 4 December 2024, the SOL/USD, DOGE/USD, and LINK/USD markets will be the first markets to trial updated parameters, aimed at making trading more affordable and secure.
The Open and Close fees for all trades on these markets will be reduced to a flat 4.5 basis points, from the current rates of 7 bps / 5 bps.
Additionally, the newly activated liquidation fees (initial parameter: 20 basis points) will be implemented for these markets at the same time.
These updates aim to lower costs for all traders, support larger markets, and create a safer and more sustainable mechanism for liquidity providers absorbing liquidations.
Feedback and monitoring of these updates will be evaluated over several weeks, before considering application to additional markets.
Tradao retweeted
🚀 We're thrilled to announce the @Nimble_network Builders in Web3 Social Campaign with $USDT and Nimble Points as rewards! Join us as we drive innovation and collaboration across our ecosystem. Don't miss out on this exciting event!
🔗 Campaign link: app.galxe.com/quest/BaJLS2ba…
Here’s the list of participating projects in alphabetical order:
@Adot_web3
@Artela_Network
@Axelarzh
@BitReserveFi
@ChainbaseHQ
@ContinuumDAO
@dekube_official
@Gaianet_AI
@gabby_world_
@HashKey_Global
@jaspervault
@KiloEx_perp
@KodoCrypto
@labelfiai
@lh_vivi_
@TheMonsterApp
@Nimble_network
@Node_DAO
@NnsDaos
@OpenTaskAI
@quantlytica
@ReflectionAI_
@Tradaoperp
Let’s build the future of Web3 together! 💫
Tradao retweeted
Polynomial Superchain is live 🟢✨
Stake now at polynomial.fi
This is a significant milestone in our mission to hyperscale on-chain derivatives trading, and we invite everyone to join us.
Details on staking and our points program below 👇