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GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero-price impact trades. Trading is supported by a unique multi-asset pool that earns fees from market making, swap fees, and leverage trading for liquidity providers.
Q3 GDP and September PCE to be released on October 29, with market expectations of 3.2% annualized GDP growth
Odaily reports: GMX 🫐 posted on X that Q3 GDP and September PCE data will be released simultaneously on October 29 at 8:30 AM ET. Market expectations are for annualized GDP growth of about 3.2%, with core PCE up about 0.3% month-over-month and about 3.1% year-over-year. The Fed voted 10-2 to keep interest rates in the 3.75%-4.00% range, with both dissenters favoring a rate hike; this will be the first batch of major data released since then and will influence the December decision.
The market expects about a 90% probability that the Fed will keep rates unchanged in October
GMX 🫐 posted on X that the FOMC will announce its interest rate decision at 2:00 PM ET on October 28, and Warsh will hold a press conference at 2:30 PM. The market expects about a 90% probability that rates will remain unchanged in the 3.75% to 4.00% range, and about an 80% probability of a rate hike in December. Crude oil prices have pulled back, but energy-driven inflation persists; if the stance is hawkish in December, it would typically push up the dollar and yields and put pressure on gold, which is currently around $4,000.
Developers Can Charge Fees from User Orders as GMX Opens Builder Fees Mechanism on Solana
GMX 🫐 posted on X that it has opened the Builder Fees mechanism on Solana, allowing third-party developers to build trading interfaces, route orders, or create automation tools and charge fees from each position order submitted by users. Developers need to publish fee rates on-chain, and traders sign the rate in each order; the fee is added on top of the standard trading fee and calculated based on position changes. For example, when a position is increased by $1,000 and the fee rate is 0.01%, $0.10 is charged, with final settlement to the developer's claim vault. Orders submitted through developer interfaces will use the same liquidity pools, oracle prices, and price impact rules as other orders. Builder Fees apply to market and limit orders for increasing positions, decreasing positions, and stop-loss position reductions, but do not apply to swaps, liquidations, or ADL.
Arbitrum Network Holds About $3.8 Billion in Stablecoins, USDG Lands in Its DeFi Ecosystem
Odaily News: Global Dollar (USDG), issued by stablecoin issuer Paxos, will launch in the DeFi ecosystem of Ethereum Layer 2 network Arbitrum, covering Morpho, GMX, Fluid, and Maple, with Kraken providing fiat on-ramp and off-ramp services.Arbitrum aims to capture a portion of the economic benefits generated by stablecoins on its network. The network currently holds about $3.8 billion in stablecoins, of which about 60% is USDC issued by stablecoin issuer Circle.Stablecoin alliances are growing. OpenUSD has gained support from Mastercard, Visa, Stripe, Coinbase, and Shopify, while Qivalis has secured backing from 37 European banks. (CoinDesk)
GMX Proposes $10M Token Market-Making Fund from Treasury, Launches GT Buyback
Odaily News: On-chain trading platform GMX has published a governance proposal to allocate $10 million from its treasury in the first phase to establish a GMX token market-making fund. The fund will use cross-chain aggregate open interest as a reference metric, primarily conducting buybacks when GMX's circulating market cap falls below aggregate OI, and shifting to liquidity provision when circulating market cap is not below aggregate OI.The proposal also outlines a subsequent roadmap, including cross-collateral and cross-margin modes, market grouping, net open interest, RFQ, permissionless markets, Robinhood integration, and a new USDG LP product line. Additionally, GMX will initiate a GT buyback and distribute GT airdrops to GMX stakers, with specific details to be announced in subsequent proposals.
Connecticut Attorney General Issues Crypto Alert as Investor Loses $200,000
Odaily News: Connecticut Attorney General William Tong and State Banking Commissioner Jorge Perez issued a consumer alert on September 3 stating that a resident deposited $200,000 into an unregulated DeFi crypto trading platform following suspected deception, and the funds are currently unrecoverable.The alert lists seven offshore DeFi platforms—GMX, Gains Network, dYdX, Aevo, Drift Protocol, Vertex Protocol, and Hyperliquid—but does not specify that the resident used any of them.Connecticut officials noted that some platforms offer leverage of 50x, 100x, and up to 250x; the related perpetual contracts also involve risks associated with liquidation, funding rates, smart contracts, and oracles.The alert also covers perpetual contracts linked to Apple, Tesla, Nvidia, and SpaceX, stating that these correspond to synthetic prices rather than actual stocks. Officials remind residents to verify the registration status of crypto services, retain transaction and communication records, and promptly report suspected scams. (Bitcoin.com News)
Related news
Q3 GDP and September PCE to be released on October 29, with market expectations of 3.2% annualized GDP growth
Odaily reports: GMX 🫐 posted on X that Q3 GDP and September PCE data will be released simultaneously on October 29 at 8:30 AM ET. Market expectations are for annualized GDP growth of about 3.2%, with core PCE up about 0.3% month-over-month and about 3.1% year-over-year. The Fed voted 10-2 to keep interest rates in the 3.75%-4.00% range, with both dissenters favoring a rate hike; this will be the first batch of major data released since then and will influence the December decision.
The market expects about a 90% probability that the Fed will keep rates unchanged in October
GMX 🫐 posted on X that the FOMC will announce its interest rate decision at 2:00 PM ET on October 28, and Warsh will hold a press conference at 2:30 PM. The market expects about a 90% probability that rates will remain unchanged in the 3.75% to 4.00% range, and about an 80% probability of a rate hike in December. Crude oil prices have pulled back, but energy-driven inflation persists; if the stance is hawkish in December, it would typically push up the dollar and yields and put pressure on gold, which is currently around $4,000.
Account transfer functionality will be suspended on October 28; GMX reminds holders that they do not need to migrate on their own
GMX 🫐 posted on X stating that the account transfer function will also be suspended on October 28. Holders do not need to migrate on their own, and any "migration" links they encounter are scams.
Unstaking requires an application and a 180-day wait; GMX staking on Arbitrum and Avalanche is migrating to new contracts
Odaily reports: GMX 🫐 posted on X that GMX staking on Arbitrum and Avalanche will migrate to new contracts on October 28. To unstake, users must submit an application, and tokens can be withdrawn after 180 days; when submitting the application, an 80% staking weight threshold must be met. Already-staked GMX and esGMX will remain as is, and no action is required.
Developers Can Charge Fees from User Orders as GMX Opens Builder Fees Mechanism on Solana
GMX 🫐 posted on X that it has opened the Builder Fees mechanism on Solana, allowing third-party developers to build trading interfaces, route orders, or create automation tools and charge fees from each position order submitted by users. Developers need to publish fee rates on-chain, and traders sign the rate in each order; the fee is added on top of the standard trading fee and calculated based on position changes. For example, when a position is increased by $1,000 and the fee rate is 0.01%, $0.10 is charged, with final settlement to the developer's claim vault. Orders submitted through developer interfaces will use the same liquidity pools, oracle prices, and price impact rules as other orders. Builder Fees apply to market and limit orders for increasing positions, decreasing positions, and stop-loss position reductions, but do not apply to swaps, liquidations, or ADL.
Top perpetual DEX notional trading volume over the past 7 days: Hyperliquid leads with $48.1 billion
Odaily News: Over the past 7 days, Hyperliquid ranked first in perpetual DEX notional trading volume with $48.1 billion; Kalshi recorded $14.9 billion, trade.xyz $12.2 billion, Lighter $11.7 billion, Aster $10.8 billion, GMX $8.8 billion, edgeX $6.4 billion, Polymarket $4 billion, Ondo Finance $1 billion, and fomo $853 million.