Search results for "GMX"

The GMX project party sold 10,000 ETH for 29,597,000 USDT about 7 hours ago.

PANews reported on July 12 that, according to on-chain analyst Yu Jin's monitoring, the GMX Hacker yesterday transferred assets to the GMX project party, including 10.495 million FRAX and 10,000 ETH (30 million USD). Seven hours ago, the GMX project party sold 10,000 ETH for 29.597 million USDT, at a selling price of 2,959 USD. The conversion to stablecoins is expected to be preparation for returning assets to users.
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GMX Hacker has started to transfer 1700 ETH of their holdings, with some already flowing into Tornado Cash.

Odaily News According to on-chain analyst Ai Yi (@ai9684xtpa), the GMX Hacker has begun to launder their "self-held" 1,700 ETH. Although they have returned about $40 million in FRAX and ETH in the past 3 hours, they still retain nearly $5 million in profits generated from the coin pump as a "white hat bonus." Currently, 100 ETH has been transferred to Tornado.
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The GMX attacker has returned 3000 ETH to GMX.

According to a report from Golden Finance, PeckShield monitoring shows that the GMX attacker has returned 3000 ETH to GMX, valued at approximately 9 million US dollars.
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The GMX Hacker has returned 10.49 million USD in FRAX, and the 32 million USD exchanged for ETH has unrealized gains of 3 million USD.

PANews, July 11 news, according to monitoring by Lookonchain, the GMX protocol previously suffered a hacker attack. The hacker has chosen to return the stolen assets of $42 million and accepted a $5 million white hat bug bounty. So far, $10.49 million in FRAX has been returned. Meanwhile, the hacker has exchanged an additional $32 million in assets for 11,700 ETH, currently valued at about $35 million, with a profit of about $3 million. It is still unclear whether the hacker will return all 11,700 ETH (worth $35 million) or sell ETH to return $32 million while keeping a profit of $3 million.
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GMX Hacker Returns $42M Stolen Assets for $5M Bug Bounty

Gate News bot message, the GMX hacker has initiated the return of stolen assets worth $42 million in exchange for a $5 million white-hat bug bounty. According to the latest data, $10.49 million in FRAX tokens has already been returned. The remaining $32 million was previously converted into 11,700
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The GMX attacker refunded 5.49 million FRAX tokens to the project deployers.

Gate News bot news, security analysis company PeckShield has detected that the hacker who previously attacked the GMX project has returned 5.49 million FRAX Tokens to the GMX deployer. This development has garnered widespread attention from the Crypto Assets community, indicating that the attacker may be taking certain remedial actions. However, the specific reasons and subsequent developments remain to be observed.
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GMX hacked for 42 million USD! "Reentrancy vulnerability" causes disaster, official report reveals compensation plan

The long-established decentralized perpetual futures trading platform GMX suffered a hack on its V1 deployment on Arbitrum on July 9, resulting in losses of up to $42 million. This incident once again sounded the alarm for security in the DeFi space. On the evening of July 10, Taiwan time, GMX published a detailed report on platform X, disclosing the root causes of the attack, initial response measures, and subsequent plans, as well as explaining how to compensate affected users.
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Data: May be affected by the news that "GMX Hacker claims to return stolen funds", GMX has risen over 10% during the day.

ChainCatcher news, or affected by the message "GMX Hacker says he will return the stolen funds", GMX has risen over 10% during the day, currently reported at 12.5642 dollars.
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GMX Hacker: Funds will be refunded later.

Golden Finance reports that the GMX hacker sent a message to the GMX deployer's Address on-chain, stating that they will return the funds later. According to previous reports, on July 9, GMX stated in an on-chain message to the hacker that it acknowledged the GMXVl vulnerability and was willing to provide a 10% white hat bounty. If the remaining 90% of the funds are returned within 48 hours, it promised not to take further legal action.
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Aster has launched Mining point acceleration and contract experience funds, special benefits for trading users of platforms like Hyperliquid are waiting to be claimed.

Aster has launched a Mining Points Acceleration and Contract Trial Fund event, where users participating in platforms such as Hyperliquid, Drift, and GMX can obtain a 1.1x Mining Points acceleration and 100 USDT Contract Trial Fund. Aster also announced the launch of Aster Pro mode, allowing users to earn Rh Points by trading in Aster Pro mode starting from April 10.
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GMX Community initiates the proposal of changing the income distribution model to repurchase and distribute GMX

The GMX community has initiated a proposal to suggest changing the GMX revenue distribution model from repurchasing ETH to repurchasing GMX, in order to enhance long-term value retention capabilities, optimize user experience and protocol strategic flexibility, while fully preserving real income advantages.
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GMX releases a summary report on the $40 million vulnerability attack incident: GMX DAO will discuss further compensation measures.

According to ChainCatcher news and a report released by GMX, there has been a summary report on a vulnerability attack incident of approximately 40 million USD on GMX V1 on Arbitrum. The attacker directly called the increasePosition function of the Vault contract through reentrancy, bypassing the PositionRouter and PositionManager contracts (which are usually responsible for calculating the average shorting price). Through manipulation, the attacker lowered the average shorting price of BTC from $109,505.77 to $1,913.70. Using Flash Loans, the attacker bought GLP at a normal price of $1.45, opening a position of $15 million. Due to the manipulated price, the GLP price was pushed up to over $27, and the attacker redeemed G at a high price.
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GMX: The $40 million attack originated from a reentrancy vulnerability in the OrderBook contract.

PANews July 10 news, GMX official disclosed the reason and subsequent measures for the approximately $40 million attack on GMX V1 on the Arbitrum chain on July 9. According to the security team's analysis, the attack originated from a reentrancy vulnerability in the OrderBook contract, with the hacker exploiting this vulnerability to manipulate the average price of BTC short positions, thereby significantly raising the price of GLP and engaging in Arbitrage. The official has suspended related trading on the Avalanche chain, confirmed that the V2 version is unaffected, and will take measures such as disabling GLP minting and redemption, and establishing a compensation pool. GMX reminds V1 fork projects to promptly fix similar risks.
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Slow Mist Cosine: GMX-related fork projects need to avoid security risks similar to GMX v1.

Odaily News Yu Xian, the founder of Slow Fog, posted on the X platform stating that GMX-related fork projects need to pay attention to similar security risks. He mentioned that the fundamental reason for the theft of 42 million dollars from GMX last night was that GMX v1 immediately updates the global short average price (globalShortAveragePrices) when handling short positions, and this global average price will directly affect the calculation of the total asset size (AUM), thus leading to
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GMX Hacker has converted $42.8 million of stolen funds into ETH.

A hacker stole assets in an attack on the GMX V1 pool, exchanging all assets except for FRAX for 11,700 ETH, worth approximately $32.33 million, and deposited them into 4 wallets. At the same time, the hacker still holds about 10.495 million FRAX, totaling approximately $42.8 million in assets. This move seems to reject the project party's repayment proposal.
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GMX (GMX) fell 14.69% in the last 24 hours.

Gate News Bot news, July 10, according to CoinMarketCap, as of the time of writing, GMX (GMX) is currently priced at $12.16, having fallen by 14.69% in the last 24 hours, with a high of $15.03 and a low of $10.33. The 24-hour volume reached $171 million. The current market capitalization is approximately $124 million, a decrease of $21.3714 million compared to yesterday. GMX is a decentralized perpetual contract exchange that allows users to trade top cryptocurrencies like Bitcoin, Ethereum, Avalanche, etc., directly from their wallets, with up to 100x leverage. GMX determines liquidation timing through high-quality price feeds, protecting user positions from temporary price fluctuations. The platform offers a trading experience with low spreads and low slippage, allowing users to obtain the best prices without additional costs. GMX is currently on Arbit
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Breaking news! GMX V1 platform confirms it has been hacked, resulting in a loss of 40 million dollars and a big dump in coin prices.

Today (10) in the Asian early session, the decentralized exchange GMX token fell nearly 15% because the exchange's V1 platform and the GLP pool on Arbitrum suffered a loss of 40 million dollars due to an attack, while its V2 platform was unaffected.
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GMX Solana officially launched, supporting SOL and USDC to participate in Liquidity Mining

PANews March 13 news, according to the GMX-Solana official announcement, GMX Solana has officially launched, users can now mint GLV using SOL or USDC, provide Liquidity, and earn Money Laundering in selected markets.
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$GMX price fell 14% in the short term due to a certain Whale/institution dumping 267,000 GMX Gate News: According to Yu Jin monitoring, in early June, a Whale or institution purchased 302,000 GMX (USD 13.47 million) at an average price of USD 45 through six addresses, which pushed the GMX price up by 12%. Six hours ago, this Whale/institution transferred a total of 267,000 GMX (USD 8.5 million) to exchanges through four addresses for sale. This caused the GMX price to drop from USD 33 to USD 28, a decrease of 14%. This Whale/institution suffered a loss of USD 4 million on GMX. gate data shows that the price of $GMX has dropped by 2.57% in the past 24 hours, with the current price at $30.28, market cap at $297.27M, and 24-hour trading volume at $201.66K.
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GMX launches GMXLiquidity treasury GLV

GMX launches a decentralized derivative protocol and announces the launch of GMX Liquidity Vault (GLV), an automatically rebalancing vault that provides deep liquidity for traders and higher capital efficiency for LPs. The first vault launched is GLV [WETH-USDC], which users can purchase using ETH, USDC, or 7 other underlying GM Tokens.
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GMX: The proposal of 'Buyback GMX and distribute GMX' has been approved and is waiting for implementation.

BlockBeats news, on August 8th, according to the official announcement from GMX, the GMX community initiated a proposal to 'change the income distribution model to repurchase and distribute GMX', which has received majority support from the GMX DAO and is currently waiting to be executed. The proposal aims to utilize the advantages of 'repurchase' to enhance the long-term value preservation capability of GMX, optimize user experience and protocol strategic flexibility, while minimizing model changes and fully retaining the advantages of 'real income'.
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The GMX community is about to implement the proposal of 'changing the income distribution model to repurchase and distribute GMX'.

PANews reported on August 8th that GMX announced on the X platform, "The proposal to change the income distribution model to repurchase and distribute GMX" has received majority support from the GMX DAO and is currently in line for execution.
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GMX announced that V2 will use Chainlink as the Oracle Machine for the Avalanche Mainnet.

Odaily Planet Daily News GMX announced on the X platform that GMX V2 uses Chainlink as the Avalanche Mainnet Oracle Machine solution and will integrate Chainlink Data
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GMX: The deadline for the second round of funding proposal submission is June 24th

Odaily Planet Daily News GMX announced on X platform that the deadline for the second round of funding proposal submission is 8 a.m. on June 24th (UTC time)
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链上观察 - $GMX$即将有动作? 链上数据 @lookonchain 注意到 SmartMoney 购买了 $GMX$。SmartMoney 总是以低价买入并以高价卖出。 目前持有 10,411 $GMX ($810K),平均买入价为 $52。 当前 GMX 的交易价为 78.24 美元,近24小时里上涨了4.54%。

The Profitable Side of DeFi: Uncovering the Top 9 Earning Protocols

Despite the rapid growth of decentralized finance [DeFi], only a few protocols have been profitable. This article outlines the ten profitable DeFi protocols and the terminology used in assessing their earnings, including fees, supply-side fees, revenue, token emissions, and earnings. The ten protocols are $ETH$, $GNS$, $GMX$, $CVX$, Arbitrum/$OP$, $RDNT$, $ENS$, $DYDX$, and $AAVE$. These protocols generate fees and manage expenses effectively, showing their success in the DeFi space.
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Slow Fog: GMX was attacked because the global average price of GMX v1 short positions can be manipulated, and the GLP price was maliciously inflated for arbitrage.

The CISO of Slow Fog pointed out that the design flaw of GMX v1 allowed attackers to manipulate the global average price using short positions, thereby manipulating the price of GLP Token for profit.
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GMX V1 Vulnerability Emergency Warning: The official recommendation is to disable the leverage feature and set the parameters to "1" to prevent GLP minting.

According to GMX's official announcement on July 9, PANews reports that GMX V1 has encountered a vulnerability attack. The official recommends that all GMX V1 fork projects immediately take two measures: first, disable leverage functionality; second, set all maxUsdgAmounts parameters to "1" to prevent GLP minting. It is especially reminded that this parameter should not be set to "0", otherwise, the upper limit protection will be lost.
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GMX: The GLP liquidity pool of GMX V1 on Arbitrum was attacked due to a vulnerability, but GMX V2 was not affected.

GMX announced on the TG channel that the GLP pool of GMX V1 on the Arbitrum platform has encountered a vulnerability attack, resulting in approximately 40 million tokens being transferred. To prevent further attacks, Arbitrum and Avalanche have disabled the related trading functions, but GMX V2 and GMX tokens are unaffected.
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GMX is suspected of losing approximately 42 million dollars in assets, and the hacker's Address initial funds came from Tornado.

According to BlockBeats news on July 9, on-chain analyst Yu Jin monitored that GMX may have been hacked about an hour and a half ago, with assets worth approximately 42 million dollars stolen, including WBTC/WETH/UNI/FRAX/LINK/USDC/USDT. The initial funds for the hacker address that stole the assets were transferred from Tornado the day before yesterday.
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GMX: 1 million Tokens have been repurchased

ChainCatcher news, GMX stated on social platform that it has repurchased 1 million GMX Tokens and distributed them to stakers according to the BB&D rewards model.
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GMX: 1 million GMX Tokens have been repurchased.

BlockBeats news, on May 14, GMX stated on social media that it has repurchased 1 million GMX tokens and distributed them to stakers according to the BB&D rewards model.
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GMXToken reward distribution is now live

BlockBeats news, on October 30th, according to official sources, GMX announced that the reward distribution of its Token has now gone live, marking the transition from the old model based on ETH rewards to the new 'buyback and distribution of GMX' model. GMX just completed its first GMX Token reward distribution today. 30% of GMX V1 fees and 27% of GMX V2 fees will be used to repurchase GMX Tokens for distribution. The repurchase process allows anyone to deposit GMX
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AltCoin market conditions are warming up, with BANANA rising nearly 20% in the past 24 hours

The AltCoin market has warmed up, with BANANA, HOOK, NFP, GMX, IMX, APT, and FTM and other seven Tokens experiencing 24-hour increases of 19.44%, 19.25%, 13.04%, 12.77%, 10.30%, 9.51%, and 9.06%, respectively.
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GMX initiates on-chain voting to change the income distribution model to buyback and distribute GMX

Golden Finance reported that GMX announced that the 'Change the Revenue Distribution Mode to Repurchase and Distribute GMX' proposal has passed the Snapshot vote and started on-chain voting. The voting will end on August 5th. The proposal suggests changing GMX's current revenue distribution mode from 'repurchasing ETH and distributing ETH' to 'repurchasing GMX and distributing GMX'.
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Odaily Planet Daily News The decentralized derivative protocol GMX announced the launch of the second round of funding on the X platform.
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GMX has officially selected LayerZero as its messaging partner for multichain expansion.

BlockBeats news, on April 15, GMX officially selected LayerZero as its messaging partner for multi-chain expansion through a majority vote of 75.54%. This integration will bring the following advantages to GMX: • Ability to scale to over 125 Blockchains; • All contracts and security are fully controlled by GMX; • Fast, zero slippage asset transfers; • Utilizing battle-tested infrastructure trusted by billions of dollars in assets and hundreds of applications.
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GMX and MIM_Spell contracts were attacked by a Hacker, resulting in a loss of 13 million dollars.

According to the Gate.io News bot, a report from the blockchain security company PeckShield has detected that the crypto assets trading platform GMX and MIM_Spell related contracts have been hacked. This attack resulted in approximately 6260 Ether (ETH) being stolen, with losses amounting to 13 million dollars based on current market prices. The news was first published by the crypto assets information platform Wu Shuo.
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$GMX reached a high of $35.13, and the GMX proposal suggests increasing the buyback distribution coverage to 90%. gate News: On November 26th, the GMX community proposed a new proposal to increase the current Buyback and Distribution (BB&D) coverage ratio from 27% to 90%. According to the proposal, a total of 103,764 GMX tokens (about 5% of the circulating supply) were repurchased in the past 30 days, with a total value of $3.3412 million. As a result, $GMX reached a high of $35.13 this morning and has now fallen to $32.35. gate data shows that $GMX price has pumped 2.27% in the past 24 hours, with the current price at $32.35, market cap of $317.81M, and 24-hour trading volume of $77.74K.
GMX announced two important governance proposals on Snapshot. These votes involve updating the maximum leverage parameters on GMX and establishing a GMX token pool and market on GMX V2. The governance vote to establish a GMX token pool and market on GMX V2 is to determine the potential listing of GMX tokens on the market. GMX token's Oracle feeds have been tested and will be deployed on Avalanche in June 2024. The voting options include creating different GMX markets, such as the GMX-USDC market or the GMX-GMX market.
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Food for thought: $GMX$ Outperforms During times of intense market volatility, $GMX$ DEX has been observed to perform better than other exchanges. In fact, in the last couple of days, it has demonstrated exceptional performance when compared to Gains Network [$GNS$], generating three times the trading volume and twelve times the fees. This indicates that GMX DEX is a reliable platform for traders, especially during periods of market uncertainty, where it can provide liquidity and stability. Overall, its ability to handle large volumes and generate substantial fees makes GMX DEX a promising option for those seeking a robust and dependable exchange.
Crypto Narratives List The listed narratives vary in age and popularity, and I won't be discussing their potential or which ones to choose in this post, nor will I provide extensive technical analysis unless requested. The list is presented in no particular order and includes the following: Real Yield, which includes tokens like $CRV$, $FXS$, $GMX$, and $DPX$. Real World Assets (RWA), which includes tokens like $MKR$, $CFG$, $GFI$, $MPL$, and $TRU$. Liquid Staking Derivative (LSD), which includes tokens like $LDO$, $FXS$, and $RPL$. ZK-EVM, which includes tokens like $KNC$ and $ROSN$. Soulbound token (SBT), which includes tokens like $GFI$. On-chain Option trading, which includes tokens like $HEGIC$ and $RBN$. Modular blockchains, which include tokens like $CELT$. Artificial Intelligence (AI), which includes tokens like $OCEAN$, $FET$, $AGIX$, $ORAI$, and $RNDR$. Layer2 (L2), which includes tokens like $OP$, $MATIC$, and $METIS$. Composable Networks, which includes tokens like $GMX$ and $CRV$. Perpetual DEXes, which include tokens like $GMX$, $GNS$, $DYDX$, and $WOO$. Gaming/Metaverse, which includes tokens like $APE$, $MANA$, $AXS$, $SAND$, $MAGIC$, and $ILV$. Omnichain, which includes tokens like $STG$, $RDNT$, and $JOE$. Crosschain, which includes tokens like $ROUTE$, $CHNG$, and $HFT$. Privacy, which includes tokens like $ROSE$, $RLC$, $CSIX$, and $NYM$.
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$GMX$ successful breakout. Looking for entry on pullback.

GMX v1 liquidated old BTC positions, incurring $13 million in costs, some of which will be used to repurchase GMX.

PANews April 7 news, according to @SigmaSquared monitoring, the GMX v1 platform recently liquidated an old BTC position, generating over $13 million in fees, including borrowing costs. It is reported that 30% of this fee will be used to buy back GMX Tokens. In addition, it was mentioned that a $4 million TWAP (time-weighted average price order) is currently affecting a Token with a market capitalization of $100 million.
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GMX proposes to increase the coverage range of repurchase and distribution expenses from 27% to 90%

GMX proposal plans to increase the coverage of repurchase and distribution expenses from 27% to 90%, supporting Token repurchase and Airdrop mechanisms, and increasing the monthly repurchase amount of GMX to 345,534, with a repurchase value of $8.489 million. However, the changes may affect the performance of GMX prices, and the benefits and negative impacts will be borne by the holders.
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The GMX Multiplier Points system has been updated, and MP has been converted to esGMX at a ratio of 25:1.

Odaily Planet Daily News GMX announced on X platform that its Multiplier Points system has been updated, and MP has been converted to esGMX at a ratio of 25:1. The received esGMX can be vested based on the user's current average stakeToken quantity.
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GMX's new proposal suggests changing the profit distribution mode from "repurchasing ETH and distributing ETH" to "repurchasing GMX and distributing GMX"

The GMX team proposes to replace the original profit distribution model of "repurchasing ETH and distributing ETH" with "repurchasing GMX and distributing GMX", which can enhance the long-term value retention ability of Token, optimize user experience, and strategic flexibility of the protocol. In the new model, 30%, 70%, and 27% of the fees will be used to repurchase GMX Token to create continuous buying pressure, promote the stability and rise of Token price; while users can choose to keep GMX unchanged or convert it to ETH or AVAX when receiving or compounding.
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DeFi's Latest Buzz: From Tokens to Swaps, Here are the Major Updates of the Week Firstly, the Arbitrum token has been launched, and Radiant V2 is now live on the Arbitrum network. Radiant V2 enables cross-chain borrowing and lending, which allows users to access liquidity from different blockchains. This could potentially make the DeFi ecosystem more interconnected and accessible. $ARB$ $RDNT$ In other news, the Uniswap proposal to launch version 3 on Avalanche has been approved. Uniswap is a decentralized exchange that allows users to swap cryptocurrencies without the need for an intermediary. Version 3 promises to offer several improvements, including increased efficiency and lower costs. $UNI$ Arbitrum has also announced that its DAO/Foundation will begin grants programs soon. This move could potentially attract more developers to build on the Arbitrum network and expand the ecosystem. $ARB$ UniDex, a meta-aggregator for DeFi, has released SwapsV3, an upgraded version of their swap aggregator. This new version promises to offer better user experience and more features, such as gas optimization. Fantom Foundation has launched a new Fantom Wallet with an improved design. The new wallet promises to be more user-friendly and intuitive, making it easier for users to navigate the Fantom ecosystem. $FTM$ Polygon Labs and Immutable have introduced Immutable zkEVM, a chain for games that offers EVM compatibility. This could potentially make it easier for game developers to build on blockchain technology and create new gaming experiences. $MATIC$ $IMX$ GMX has proposed deployment on Coinbase's Base Blockchain Sui Network, which will go live in Q2 2023. Sui is an L1 project that has raised hundreds of millions of dollars in funding. If the deployment is successful, it could potentially bring more liquidity and users to the Sui network. $GMX$ Popsicle Finance, a project by Daniele Sesta, is now live on Arbitrum. Popsicle Finance is a platform that allows users to earn yield by providing liquidity to different pools. Its launch on Arbitrum could potentially make it more accessible to users and attract more liquidity to the platform. $ICE$ Plutus DAO has introduced $plsARB, an Arbitrum derivative token that allows holders to earn dual yield in PLS and ARB. This could potentially incentivize more users to hold the token and contribute to the Plutus DAO ecosystem. SushiSwap, a decentralized exchange, has received a subpoena from the SEC. The reason for the subpoena is currently unclear, but it is yet another reminder of the regulatory challenges that DeFi projects may face in the future. $SUSHI$ Finally, Timeswap, an automated market maker for lending and borrowing, launched on Arbitrum. This could potentially offer users a new way to earn yield and access liquidity on the Arbitrum network.
According to the Snaphot voting page, the governance voting for the governance proposal released by the previous GMX to establish a GMX Token pool and market on GMX V2 has ended, according to the voting results: 1. Create a GMX-USDC Token pool and market, and then create a GMX-GMX with 98.66% support; 2. Only create GMX-USDC Token pools and markets to get 1.12% support; 3. Only create GMX-GMX Token pools and markets with 0.18% support rate; 4. Create a GMX--GMX Token pool and market, and then create a GMX-USDC to get 0.03% support; 5. The GMX market is not listed to receive 0% support.