xhir retweeted
$GMX just released the new @chaoslabs risk oracles allowing for a more optimized way to raise available liquidity, with more optimizations coming soon
Finally GMX as an AMM based perp dex will be scaling harder, and harder.
$BTC now has $112M long and $116M short liquidity.
xhir retweeted
A major upgrade to the GMX dApp is now live:
🔹The interface has been fully revamped with new styles, including updated colors, and improved readability and usability
🔹The navigation menu has been streamlined
🔹A new 'Light Theme' mode is available
🔹All GMX V1 items were relocated to a dedicated interface, which can be accessed via the footer of the dApp
1/2 👇
xhir retweeted
Posting this message in hopes of connecting with the individual responsible for the GMX V1 exploit.
You've successfully executed the exploit; your abilities in doing so are evident to anyone looking into the exploit transactions.
The white-hat bug bounty of $5 million continues to be available.
It's likely already clear to you that the decision between accepting this bounty and keeping the exploited funds is the difference between being able to spend the funds freely versus taking additional risks to access them.
We would like to reiterate that the option of the white-hat bug bounty would lead to an outcome where this $5 million can be freely spent right now. We can assist with providing proof of source of funds if that is ever needed.
If we can come to an agreement on this, the $5 million would be legitimately categorised as a white hat bounty. GLP users would be made whole, with the $5 million difference covered by the Treasury's allocated bug bounty funds, so there would be no basis for any further action.
Please contact us:
Email: security@gmx.io
On-chain: (GMX Deployer: 0x5F799f365Fa8A2B60ac0429C48B153cA5a6f0Cf8)
Immunefi: (immunefi.com/bug-bounty/gmx/…)
xhir 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.
xhir retweeted
New staking epoch just started and we’re looking at 58% APR for the next 7 days.
What could be better than that i hear you asking, how about doubling that to 116% APR in next week’s epoch?
Best part? It’s all 100% farm fresh organic🫐
$GMX
xhir retweeted
Additional context regarding the impact of the enormous position that was liquidated on GMX, for those interested in understanding it better:
🔸 A very large whale on the Avalanche blockchain has been trading on @GMX_IO
🔸 He held a $15,5 million Long position on $BTC for well over a year
🔸 Because of the very volatile global markets and the BTC price tumbling over the last few days, his position was ultimately liquidated
🔸 This single trade generated over $13 million in fees for the GMX protocol
🔸 Of that $13 million, 30% will be used to buy back GMX tokens from the market, which will then be distributed to $GMX stakers on both Arbitrum and Avalanche
🔸 This represents a huge $4 million ‘TWAP’ buy on the GMX token, which currently has a market cap of $110 million. That buyback is starting slowly and will take quite a while to complete
🔸The accrued protocol fees will begin to be distributed to GMX stakers on Wednesday
Adding a few screenshots to illustrate the position and its impact:
xhir retweeted
729,000 GMX users have managed to generate $280 Billion in notional trading volume.
Over the past 365 days, GMX's multichain perpetual exchange generated about $100 Million in fees and earned nearly $32 Million in revenue.
Learn more on @TokenTerminal: tokenterminal.com/explorer/s…
xhir retweeted
🆕📊 @GMX_IO enters into a Data Partnership with Token Terminal
▪️GMX is a leading permissionless perpetual exchange built on @Arbitrum and @Avax.
▪️The protocol serves as a foundational liquidity baselayer for multichain DeFi.
▪️With ~$280 billion in notional trading volume and counting, GMX recognized the need for reliable and data-driven stakeholder reporting.
Learn more 🧵
xhir retweeted
GMX-Solana is now live!
Enjoy the full GMX experience on #Solana, alongside Arbitrum and Avalanche:
🔸Intuitive perpetual swaps directly from your wallet
🔸Permissionless. Decentralised. Self-custody
🔸Transparent and fair Chainlink pricing
🔸Lightning-fast onchain execution
GMX Solana is officially live!
You can now mint GLV with SOL or USDC, to provide liquidity and earn fees across selected markets.
You can now trade 20+ major cryptocurrencies—all directly from your wallet.
Get started now! gmxsol.io
xhir retweeted
#GMX_IO suits "big balls" whale traders. New trader, emerged just 2 days ago, made $1.8M profit on $1M collateral already and atm holds the biggest ever $50M short with 30x leverage 😱
xhir retweeted
The top DeFi protocols on Arbitrum today, ranked by TVL, 7d Fees, and 7d Revenue:
TVL
🥇 @aave - $1.095b
🥈 @GMX_IO - $448.89m
🥉 @Uniswap - $355.84m
4️⃣ @compoundfinance - $181.27
5️⃣ @FTI_US - $117.08m
6️⃣ @CamelotDEX - $96.56m
7️⃣ @pendle_fi - $87.77m
8️⃣ @usdx_money - $82.79m
9️⃣ @Dolomite_io - $79.55m
🔟 @vertex_protocol - $71.95m
Fees (7d)
🥇 @Uniswap - $1.61m
🥈 @GMX_IO - $1.08m
🥉 @aave - $880k
4️⃣ @MYX_Finance - $680k
5️⃣ @AcrossProtocol - $505k
6️⃣ @arbitrum - $276k
7️⃣ @CamelotDEX - $198k
8️⃣ @HMXorg - $153k
9️⃣ @magpiexyz_io - $125k
🔟 @Uniswap Labs - $123k
Revenue (7d)
🥇 @GMX_IO - $394k
🥈 @arbitrum - $217k
🥉 @magpiexyz_io - $125k
4️⃣ @Uniswap Labs - $123k
5️⃣ @aave - $104k
6️⃣ @pendle_fi - $91k
7️⃣ @HMXorg - $66k
8️⃣ @metamask - $63k
9️⃣ @gains_trade - $52k
🔟 @CamelotDEX - $43k
xhir retweeted
GMX and the TON Foundation are collaborating, to push the boundaries of DeFi on decentralised, public blockchains:
As part of this initiative, the TON Foundation and GMX are launching a developer competition. We invite participants to design a cutting-edge Perpetual DEX on the $TON Blockchain, which achieves two key goals:
🔹 Drive innovation in high-frequency trading
🔹 Drive innovation in transaction fee optimisation
Through this collaboration, the TON Foundation seeks to leverage GMX’s extensive Perp DEX expertise, including on efficient, low-slippage trading and competitive fee structures.
GMX's focus is on supporting the evolution of trading on public blockchains, and the potential opportunities this creates for the GMX DAO.
Developers, founders, and projects within the TON ecosystem are encouraged to apply for the competition, which offers a chance to win GMX advisory services and TON Foundation support.
Apply here: docs.google.com/forms/d/e/1F…
