GMX

GMX now offers 24/7 perp markets for WTI Crude Oil, Brent Crude, and Natural Gas — three of the most actively traded commodity instruments in the world, now accessible without a broker, margin account, or weekend blackout.

All three markets are live on Arbitrum, with seamless access for users on Base, Ethereum, and @BNB_Chain . Fees start at just 1–2 bps during market hours.

This follows last week's launch of Gold and Silver perps — GMX's first real-world asset markets — and continues the protocol's expansion into globally traded instruments beyond crypto.

GOLD/USD and SILVER/USD: Trading Fees Reduced to Just 1/2 bps During Market Hours!

When contributing to OI balance, the total cost for opening and closing a position is now only 2 basis points during on-hours. When adding to the skew, it is 4 bps.

Standard rates (4 bps underweight / 6 bps overweight) apply during off-hours. Maximum leverage is 100x during on-hours and 25x during off-hours.

GOLD/USD and SILVER/USD are listed under the RWA category on GMX, also searchable by ticker (XAU, XAG). The markets are deployed on Arbitrum and accessible cross-chain via your $GMX Account from Ethereum, Base, and @BNB_Chain

Weekly Buyback Update

The GMX DAO has successfully reacquired 6747.1 $GMX for ~$55,000 at an average of around $8.15, between September 23–29. 🫐

Program Summary (Mar 5 – Sep 29):

489,656 GMX tokens were acquired for ~$3,165,000, representing a blended average of ~$6.46 🔵

𝗚𝗧 𝗔𝗶𝗿𝗱𝗿𝗼𝗽 𝗳𝗼𝗿 𝗚𝗠𝗫 𝗦𝘁𝗮𝗸𝗲𝗿𝘀 𝗮𝗻𝗱 𝗚𝗧 𝗕𝘂𝘆𝗯𝗮𝗰𝗸 𝗦𝗲𝗮𝘀𝗼𝗻 𝟮

GM Labs is rolling out a GT airdrop for GMX stakers, rewarding average staked GMX over the snapshot window at a 1:1 ratio, with a ~100 GMX minimum.

GT Buyback Season 2 also begins: referral rewards remain at 50%–100% of GT earned by referees through trading, scaling with VIP tier. Referral quotas are the only route to sell GT into the buyback.

On GMTrade, buybacks will run daily, with ~99% of protocol fees flowing into the buyback and ~1% going to LPs. LPs continue to earn GT through staking and benefit directly from the stronger buyback.

Read the full announcement on the gov.gmx.io Governance forum.

GMX DAO reacquired ~7,692 $GMX for ~$60,000 at an average of ~$7.80 between September 9–15, 2026. 🫐

Program Total (Mar 5 – Sep 15):

476,282 GMX tokens were repurchased for ~$3,060,000 at a blended average of ~$6.42 🔵

Establishing a $10M GMX Market Making Fund

GM Labs is establishing a $10M market-making fund for the GMX token, funded from the treasury.

Read the full announcement on the gov.gmx.io Governance forum.

The GMX DAO has reacquired 15,390 $GMX for ~$120,000 at an average of ~$7.80 between September 2–8, 2026. 🫐

Program Total (Mar 5 – Sep 8):

468,590 GMX tokens have been reacquired for ~$3,000,000; representing an overall blended average of ~$6.40 🔵

GMX DAO has reacquired 23,720 $GMX for approximately $180,000 at an average price of ~$7.59 between August 26 and September 1, 2026. 🫐

Program Total (Mar 5 – Sep 1):

453,200 GMX tokens repurchased for about $2,880,000 at a blended average of ~$6.35 🔵

GMX DAO has reacquired 13,700 GMX tokens this week (August 19–25, 2026) for approximately $100,000, at an average price of about $7.30 per token.🫐

Program Total (Mar 5 – Aug 25):

429,480 $GMX have been repurchased for around $2,700,000 in total, at a blended avg of ~$6.29 🔵

Live on GMX: QQQ/USD and SPY/USD perps, wave 1 of the TradFi expansion.

24/7 trading of the Invesco QQQ Trust and SPDR S&P 500 ETF, even outside US market hours.

Up to 50x leverage during trading hours, and 25x off-hours. Fees: 1 or 2 bps on-hours / 4 or 6 bps off-hours (based on the OI balance).

Backed by the GLV: [WETH-USDC] liquidity vault on Arbitrum; priced by low-latency Chainlink Data Streams.

Biweekly Update:

The GMX DAO has reacquired 20,900 $GMX for ~$135,000 at an average of ~$6.46, between August 5–18, 2026. 🫐

Program Total (Mar 5 – Aug 18):

415,780 GMX tokens have been rebought on the open market for ~$2,6M, at a blended average of ~$6.25 🔵

Just shipped:

🔹New Builders page: SDK, REST API, subgraph + earnings calculator
🔹Trader & Affiliate page: vip rates, tiers from $10m volume, dedicated account manager
🔹GMX Account: deposit any asset you hold on Arbitrum
🔹Referral share cards improved
🔹Trader profiles now live at /traders

GMX DAO has reacquired 10,560 $GMX for ~$65,000 at an average of ~$6.16 between July 29–August 4, 2026. 🫐

Program Total (Mar 5 – Aug 4):

394,880 GMX tokens rebought for ~$2,46M at a blended average price of ~$6.24 🔵

Two big app updates shipped in July:

Smart wallet support for Express and One-Click trading, clearer swap routing, and GMX as an installable app.

Plus: passkey login options, in-app card funding and Apple/Google Pay, shareable performance cards, and cheaper TP/SL closes.

The GMX DAO has repurchased 12,380 $GMX for ~$85,000 at an average price of ~$6.87, from July 22–28, 2026. 🫐

Program Total (Mar 5 – Jul 28):

384,320 GMX tokens have been rebought for ~$2,400,000, with a blended average of ~$6.25 🔵

Have you tried the latest UX updates yet?

🔹 Passkey login: Face ID, Touch ID, Windows Hello. No email, no seed phrase.
🔹 Fund your wallet with a card, Apple Pay, or Google Pay
🔹 Share your PnL, win rate & curve with a performance card

And plenty more.

View the new Announcements page in the Dapp to learn more.

GMX DAO has re-acquired 15,360 GMX tokens for ~$100,000 at an average price of ~$6.51, between July 15–21, 2026. 🫐

Program Overview (Mar 5 – Jul 21):

A total of 371,940 $GMX were rebought for ~$2,315,000, at a blended average of ~$6.22 🔵

Introducing the GMX Balancer Program.

If you consistently trade to balance the book — taking the underweight side of our markets and earning the positive price impact and funding that comes with it — this one's for you:

We're rewarding the trading desks that keep GMX's markets balanced with a higher direct reward than the standard referral program, paid straight to your wallet. ⬇️

The GMX Masters competition has concluded, awarding $16,500 across the Auto Trading, Alpha Pool, pop-up volume, and subscriber tracks.

Congratulations to all the winners! And a heartfelt thanks to everyone who traded and tested AI-driven strategies on GMX's 100+ markets over the past weeks.

Over the last week (July 8–14), the GMX DAO has repurchased 22,190 $GMX for ~$130,000 at an average of ~$5.86 🫐

Program Total (Mar 5 – Jul 14):

356,580 GMX tokens have been reacquired for ~$2,215,000 at a blended average of ~$6.21 🔵