GMX, a decentralized trading platform, has recently launched a series of incentives for users on the Arbitrum network. The platform is offering low-fee on-chain trading comparable to VIP tiers of some leading centralized exchanges (CEXs), while allowing users to retain custody of their funds. This initiative is seen as a move to attract more users to the benefits of decentralized finance (DeFi).
Boosted APRs and Liquidity Migration Rebates
Further sweetening the deal, GMX is providing boosted Annual Percentage Rates (APRs) on the GM pools of its Version 2 update. Users who provide liquidity can look forward to receiving weekly ARB airdrop rewards. Additionally, those migrating their existing GLP liquidity to a GM pool will be rewarded with a rebate covering the fees incurred when selling their GLP.
For those interested in the specifics of these new incentives, more information can be found on GMX's official communication channels.
Engagement Through Social Media
The platform has been actively engaging the community through various social media outlets. A number of tweets from different partners and collaborators have been shared, indicating a collaborative effort in promoting GMX's services and updates. These tweets serve as additional resources for users to stay informed about the latest happenings and developments within the GMX ecosystem.
Educational and Collaborative Events
GMX is not just about incentives; they are also focused on providing educational content. They have partnered with Chainlink and Umami for a Twitter Space discussion centered around secure trading, pricing, and liquidity provision on-chain. This initiative reflects GMX's dedication to ensuring that its users are well-informed and supported in their on-chain activities.
Updates on the Avalanche Network
In addition to the incentives on Arbitrum, GMX has announced an important update for users on the Avalanche network. The RewardRouter address has been updated, which now allows for on-chain voting. The update also includes a cap on the max Multiplier Point boost percentage to 200%, following a community vote. Users are advised to note the new RewardRouter address and update their records accordingly to continue enjoying GMX services on Avalanche without interruption.