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News

Avalanche Foundation Offers $4 Million For Trading Platform GMX

November 7, 2022 - Around 2 mins mins to read
The Avalanche Foundation offers incentives for the decentralized trading platform GMX worth $4 million in AVAX tokens.
Avalanche Foundation Offers $4 Million For Trading Platform GMX

Avalanche Rush, a $180 million liquidity incentive program, is the source of the incentives. Its goal is to boost liquidity and consumers for DeFi (decentralized finance) applications on its smart contract platform.

The $4 million in AVAX tokens will be given over several months along with partner platforms that are growing on top of GMX, according to a statement from the Avalanche Foundation. The exchanges TraderJoe, YieldYak, and Dopex are examples of partner platforms.

Avalanche and another scaling protocol, Arbitrum, are available as spot and perpetual futures contracts on the decentralized market GMX.

The incentive scheme allows partner protocols to develop new kinds of goods on top of the revenue model used by GMX while offsetting some of the risk involved in providing liquidity on the exchange.

Users may be more likely to offer liquidity on GMX and use the new goods partner platforms are developing if $4 million is distributed over a few months.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Avalanche

Avalanche Foundation

Avalanche Rush

AVAX

GMX

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Avalanche Foundation Offers $4 Million For Trading Platform GMX

The Avalanche Foundation offers incentives for the decentralized trading platform GMX worth $4 million in AVAX tokens.
Avalanche Foundation Offers $4 Million For Trading Platform GMX

Avalanche Rush, a $180 million liquidity incentive program, is the source of the incentives. Its goal is to boost liquidity and consumers for DeFi (decentralized finance) applications on its smart contract platform.

The $4 million in AVAX tokens will be given over several months along with partner platforms that are growing on top of GMX, according to a statement from the Avalanche Foundation. The exchanges TraderJoe, YieldYak, and Dopex are examples of partner platforms.

Avalanche and another scaling protocol, Arbitrum, are available as spot and perpetual futures contracts on the decentralized market GMX.

The incentive scheme allows partner protocols to develop new kinds of goods on top of the revenue model used by GMX while offsetting some of the risk involved in providing liquidity on the exchange.

Users may be more likely to offer liquidity on GMX and use the new goods partner platforms are developing if $4 million is distributed over a few months.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News