GMX testnet V2 is out, What is the alpha, what should u know/do?
like always i gotcha
🔥GMX testnet V2 is out
It seems similar yet its very different
❓Do know whats new?
❓What impact/opportunity will these new things bring?
🐑Heres what i found/ speculate
The UI seems similar yet its very different with tons of hidden alpha
First i'd like to say bitch i was right.
🔥MORRRREEE markets
If u look closely, or follow gud kol like me u will notice small words
Avax/usd
(Backed by WAVAX-USDC)
i can soon provide LP with no shitcoin exposure 🤯
Spot-only
(usdc-usdt)
stable swap
BNB/USD
(backed by ETH-DAI)
ETH/USD
(USDC)
New challenger in town for synthetic asset?
Now that i have ur attention on some new things u can potentially do.
lets go thru the docs a bit
📍They have introduced "Markets"
TLDR
3 key types of tokens
🔹 Long Collateral token
🔹 Short Collateral token
🔹 Index token
🔹LP can deposit long or short token to mint liquidity token
🔹As LP you are still taking on Trader's PnL
🔹Seperate LP for liquidity provider to choose what asset/market they want to
(yes u can be btc or eth maxi n be LP now doing GLP with only single exposure)
👨🏻💼What is it like as a trader?
🔹You can now select which LP u want to trade in
with recommendatioin for which pool is better for price
It will be interesting to see trader's preference n where will the fee goes.
this is generally bullish
hving more option for better pricing
🔹Swap now has multi-hoop routing.
How efficient swap?
keeping my eye on the swap fees n price impact
New Stuff
price impact, funding rate
tbh needsome more digging for more details
price impact is likely because of imbalance of pool tokens like curve as there will be multiple same token pools like eth/usdc in different "market"
kinda weird they hv a seperate "claimable funding" tho
So in my previous prediction
📍 GLP will be a group isolated LPs (markets)
📍 New Fee structure
📍 Synthetic Asset can be listed
all seems to be right
my balls are good 🔮 lol (dm open lmao)
So what next?
GLP war incoming?
🔹For token hunters
check out all the GLP vaults, see who is the quickest to adapt. u should check out who is not adapt because their fees n price might be impacted too
cc @archi_fi @steadefi @Rodeo_Finance @Neutrafinance
🔹For farmers
i'd take a close look at farming opportunties with
the new swap fees
leverage/ delta neutral farming the "new GLP"? since its a lot more simple since is just two asset?
will gmx or other yield protocols have some promotional yield?
😋i like free yield buffet
Over all im hoping this will bring something new to defi
im bored from memecoins, shit forks on different chains.
i have been so bearish i haven't been trading much just playing on different new chains.
i am a great believer of not over trading, but as a new twitter guy started from Jan.
im finding it hard to find topics that are not too shit to talk with u guys.
Thank you for the people who dm n asked me why don't i write as much n didnt fade me. im stay around dont worry
Lambro out!
