GMX Swaps and Leverage Trading Deployed on Avalanche
Leveraged trading with a maximum of 30x is now available on Avalanche.
In order to encourage liquidity, 50,000 esGMX tokens will be given out each month to GLP holders on Avalanche from January 2022 through March 2022. This amount will be reduced to 25,000 per month from April 2022 until December 2022.
To clarify some FAQ:
- GMX staked on Arbitrum will receive fees from both Avalanche and Arbitrum
- Bridging of GMX from Arbitrum to Avalanche is not live yet but will be available in the coming weeks together with GMX-AVAX liquidity on Avalanche
- GMX staked on Arbitrum will receive rewards as ETH while GMX staked on Avalanche will receive rewards as AVAX
- If you unstake GMX to bridge it to Avalanche you will lose multiplier points, we might support bridging multiplier points later on but it will take some time to implement
- GLP on Avalanche is a separate token from the GLP on Arbitrum, the price and rewards will differ between the two networks
- If you received esGMX rewards from GLP, you would need GLP on the chain you received the rewards from to vest the esGMX into GMX
- Vesting for Avalanche is not yet available, but will be available in the coming weeks