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 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.

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