The annual return of some altcoins on the decentralized trading platform GMX has risen to nearly 75%.
GMX users can trade spot and continuous futures contracts with the market’s largest cryptocurrencies through the platform’s interface for low transaction fees. With the activation of the incentive provided by Arbitrum today, the return rates on the platform increased.
In pairs opened for USD, XRP trading pools provide approximately 75% return, and Solana (SOL) and Dogecoin (DOGE) pools provide 65% return.
Liquidity in these pools is provided from individual pools in GMX Market. Liquidity providers who lock their cryptocurrencies to GMX receive a share of transaction fees from transactions such as leveraged trading on the platform.
GMX, organized by Arbitrum $40 million in the grant program to take the most ARB The qualifying project was selected. GMX is one for the next 12 weeks including liquidity incentive in three different categories 12 million ARB will distribute.
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The incentives GMX was granted by the @Arbitrum DAO to support the growth of the Arbitrum DeFi ecosystem have been successfully received.
On Wednesday 8 November, tomorrow, the GMX V2 incentive program kicks off… pic.twitter.com/sxePzsLY9W
— GMX 🫐 (@GMX_IO) November 7, 2023