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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.
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
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)
GMX: Since March, has repurchased a total of 313,650 GMX tokens at an average price of $6.27, with a total value of $1.965 million
: GMX stated on the X platform that the GMX DAO repurchased 23,280 GMX tokens at an average price of approximately $5.37 from June 24 to 30, with a total value of about $125,000. Since the repurchase plan was initiated on March 5, a total of 313,650 GMX tokens have been repurchased, with a total value of approximately $1.965 million and an average price of about $6.27.In the second quarter of 2026, the GMX DAO repurchased a total of 228,030 GMX tokens, with a total value of approximately $1.41 million and an average price of about $6.18.
Binance to Delist Leveraged Trading Pairs Including LSK/USDC and HEI/USDC
According to the official announcement, Binance Margin will delist the following margin trading pairs on May 15, 2026, at 14:00 (UTC+8): - Cross-margin trading pairs: LSK/USDC, HEI/USDC, GMX/USDC, BIGTIME/USDC, MAV/USDC; - Isolated-margin trading pairs: HEI/USDC, BIGTIME/USDC.