The new and improved GMX contracts include dynamic fees, asset weights for GLPs, automatic stop-losses for leverage trading, staking and bonuses.

Source code: https://github.com/xvi10/gambit-contracts/pull/4/files

Arbitrum Mainnet contracts: https://explorer.arbitrum.io/address/0x5F799f365Fa8A2B60ac0429C48B153cA5a6f0Cf8

Arbitrum is an Ethereum Layer 2 solution which enables instantaneous transactions with low transaction costs while remaining trustlessly secure.

We are thrilled to be a part of the projects launching on Arbitrum to build DeFi applications which offer the best user experience without compromising on security.

GMX trading and staking will begin once Arbitrum is open to the public.

About Arbitrum

Arbitrum is a scaling solution for Ethereum that drastically reduces costs…

Continuing on from Pt I, this post details the floor price mechanics for GMX.

NOTE: Some parts of the tokenomics have been updated, please check the docs for the latest version: https://gmxio.gitbook.io/gmx/

Floor Price

Similar to XVIX, there will be a floor price fund set up for GMX. This floor price which can be activated by burning GMX in return for a portion of the capital in the floor price fund. The price at which GMX can be burnt will be:

Floor price = 0.9 * Capital / (GMX Backed Supply)

The 0.9 factor leads to the floor price increasing as GMX…

We are excited to announce that Gambit has now been integrated with 1inch!

This will bring swaps with zero price impact to all 1inch users.

Swap on 1inch: https://1inch.exchange/#/

Swap and leverage trade on Gambit: https://gambit.financial

Connect with us

• Website: https://gambit.financial/
• Twitter: https://twitter.com/GambitProtocol
• Telegram: https://t.me/GambitProtocol
• Announcements: https://t.me/GambitAnnouncements
• Discord: https://discord.gg/VeaYadJYGE

This is the first of two posts on the GMX token’s utilities.

NOTE: Some parts of the tokenomics have been updated, please check the docs for the latest version: https://gmxio.gitbook.io/gmx/

Liquidity Provision

In the current version of Gambit, liquidity is provided by minting USDG tokens with any whitelisted asset. This liquidity is then used to enable zero price impact swaps and to support leverage trading, with 50% of fees being re-deposited to over-collateralize the system and 20% distributed as rewards.

The idea of a stablecoin that generates interest from the assets backing it is attractive, but it has held the project back…

Gambit will be UniDex’s first integration to provide leverage trading and derivatives for their upcoming release.

UniDex is a trading terminal that specializes in aggregation. The project has constantly been pushing out new updates and improvements since its inception and have built a very comprehensive product. Their trading terminal currently includes swaps, limit orders, options, and leverage markets.

There is a strong synergy between the two projects as Gambit will serve to provide swaps with zero price impact and leverage trading with lower liquidation risks to all UniDex traders. …

The migration to GMX is live! You can now swap your GMT, xGMT, GMT-USDG and xGMT-USDG tokens on https://gambit.financial/migrate.

To migrate:

• Click on the “Migrate” button for the token you want to migrate
• Key in the amount to migrate
• Click on “Approve …”
• Wait for the approval transaction to confirm
• Click on “Migrate”

To ensure the migration was successful, check that the “Your wallet: …” value at the top of the page shows the expected amount of GMX tokens.

Each GMX will have a starting price of 2 USD.

The following conversion rates will be fixed for the migration:

• GMT…

As proposed in https://gov.gambit.financial/t/merge-all-tokens-into-one-and-launch-in-a-big-way-on-arbitrum/59 we will be merging all XVIX, XLGE, GMT and xGMT tokens into a single GMX token.

The migration will begin on 22 Jun 2021 at 12 PM (UTC) and will end on 6 Jul 2021 at 12 PM (UTC). There will be a migration page on https://gambit.financial/ to facilitate the process.

Each GMX will have a starting price of 2 USD.

The following conversion rates will be fixed for the migration:

• GMT: 10.97 USD, 5.485 GMX per GMT
• xGMT: 90.31 USD, 45.155 GMX per xGMT
• GMT-USDG LP: 6.68 USD, 3.34 GMX + 0.334 …

It has been three weeks since the mainnet launch of Gambit, during this time the protocol has handled ~400 million USD of volume and distributed ~380,000 USD in fees.

We have also received a lot of feedback and that has played a large part in formulating the plan to bring Gambit forward.

Based on these, we have the following prioritisations:

• Improving the tokenomics of GMT and xGMT
• Adding more utility for GMT and xGMT tokens
• Securing the resilience of the USDG peg
• Increasing usage
• Further decentralisation

With these in mind, we would like to share our proposals with the community…