# Avalanche Single Token Markets **URL:** \ **Category:** Proposed GM Markets\ **Created:** [May 17, 2024, 9:23am UTC](https://gov.gmx.io/t/avalanche-single-token-markets/3464 "2024-05-17T09:23:35Z")\ **Posts on this page:** 7\ **Page:** 1
**Author:** ![coinflipcanda](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/coinflipcanda/32/207_2.png) [@coinflipcanda](https://gov.gmx.io/u/coinflipcanda)\ **Post date:** [May 17, 2024, 9:23am UTC](https://gov.gmx.io/t/avalanche-single-token-markets/3464/1 "2024-05-17T09:23:35Z")
Proposed the enabling of single token markets on GMX V2 Avalanche. The successful launch of ETH and BTC markets on Arbitrum has shown strong demand for a yield generating proxy of these single assets. Propose to extend the recommendation provided for Arbitrum markets (BTC & ETH) to Avalanche while also adding support for gmAVAX+ (AVAX-AVAX). In addition to the completed risk review, contributors have also had discussions with key partners on Avalanche to support the growth of a potential gmAVAX+ market, with lending markets and CDPs indicating support and Ava Labs supportive of directing Rush incentives towards the growth of this market. Token Address: 0xfc5a1a6eb076a2c7ad06ed22c90d7e710e35ad0a (Arbitrum) Listing Chain: Avalanche Summary: AVAX is the is the native gas token of the Avalanche blockchain, the largest EVM Alt-L1. MCAP: $14.2 billion Daily Volume: $440 million Coingecko Link: [https://www.coingecko.com/en/coins/avalanche](https://www.coingecko.com/en/coins/avalanche) as on May 17, 2024 # Recommendations | | WAVAX\_WAVAX | | --- | --- | | Position Impact Exponent | 2 | | Position Impact Positive Factor | 5e-9 | | Position Impact Negative Factor | 1e-8 | | Position Impact Max Positive Factor | 0.005 | | Position Impact Max Negative Factor | 0.005 | | Position Impact Max Factor for Liquidations | 0 | | Swap Impact Exponent | 2 | | Swap Impact Positive Factor | 5.00E-09 | | Swap Impact Negative Factor | 1.00E-08 | | Swap Fee Factor (Positive Price Impact) | 0.0005 | | Swap Fee Factor (Negative Price Impact) | 0.0007 | | Position Fee Factor (Positive Price Impact) | 0.0005 | | Position Fee Factor (Negative Price Impact) | 0.0007 | | Borrowing Factor Long | 2e-8 | | Borrowing Factor Short | 2e-8 | | Borrowing Exponent Long | 1 | | Borrowing Exponent Short | 1 | | Funding Increase Factor | 200e-14 | | Funding decrease Factor | 0 | | Max funding Factor | 2e-8 | | Min funding factor | 3e-10 | | Threshold for stable funding | 0.05 | | Threshold for decrease funding | 0 | | Min Collateral | 1 | | Min Position size | 1 | | Min Collateral Factor | 0.01 | | Min Collateral Factor OI Long | 2e-8 | | Min Collateral Factor OI Short | 2e-8 | | Max Leverage | 100 | | Max Open Interest Long | 1,000,000 | | Max Open Interest Short | 1,000,000 | | Reserve Factor Long | 0.55 | | Reserve Factor Short | 0.55 | | Open Interest Reserve Factor Long | 0.5 | | Open Interest Reserve Factor Short | 0.5 | | Max PnL Factor Long | 0.9 | | Max PnL Factor Short | 0.9 | Chaos Recommendations for AVAX single token market > **[The AI workspace that works for you. | Notion](https://chaos-labs.notion.site/EXT-WAVAX-single-token-pool-recommendation-55e740df250945c4abc89d75af4f753d?pvs=4)** > > A tool that connects everyday work into one space. It gives you and your teams AI tools—search, writing, note-taking—inside an all-in-one, flexible workspace. Prior governance vote & discussion for BTC & ETH single token market [https://snapshot.org/#/gmx.eth/proposal/0xc62340aa5c5e3993bb3b4cd8e0f391bcdc60319032431146fcfba8a7b65b8fdb](https://snapshot.org/#/gmx.eth/proposal/0xc62340aa5c5e3993bb3b4cd8e0f391bcdc60319032431146fcfba8a7b65b8fdb) > [@Single Token Pools (GMX V2) - BTC and ETH](https://gov.gmx.io/t/single-token-pools-gmx-v2-btc-and-eth/3348): > > History The core contracts of GMX V2 can support trading markets for a wide variety of assets, market structures, risk parameters, and different collaterals. The first iteration deployed the main trading pairs as backed markets (gmBTC, gmETH, gmSOL, etc…), and started the first efforts on synthetic / partially backed trading pairs. The initial rollout and controlled scaling allowed for continued refinement of market parameters. This includes the implementation of dynamic funding fees that have… ---
**Author:** ![Seraph](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/seraph/32/533_2.png) [@Seraph](https://gov.gmx.io/u/Seraph)\ **Post date:** [May 17, 2024, 1:33pm UTC](https://gov.gmx.io/t/avalanche-single-token-markets/3464/2 "2024-05-17T13:33:10Z")
great step. hopefully avax team will push for more liquidity and activities to make AVAX great again 😛 ---
**Author:** ![Jonezee](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/jonezee/32/1238_2.png) [@Jonezee](https://gov.gmx.io/u/Jonezee)\ **Post date:** [May 18, 2024, 12:11pm UTC](https://gov.gmx.io/t/avalanche-single-token-markets/3464/3 "2024-05-18T12:11:06Z")
Agree, I’ve seen multiple community members request such an AVAX market and don’t see any major objections. ---
**Author:** ![Wazi](https://avatars.discourse-cdn.com/v4/letter/w/919ad9/32.png) [@Wazi](https://gov.gmx.io/u/Wazi)\ **Post date:** [May 18, 2024, 10:24pm UTC](https://gov.gmx.io/t/avalanche-single-token-markets/3464/4 "2024-05-18T22:24:26Z")
it’s finally getting going. I am fully pro ---
**Author:** ![ImmieV](https://avatars.discourse-cdn.com/v4/letter/i/f05b48/32.png) [@ImmieV](https://gov.gmx.io/u/ImmieV)\ **Post date:** [May 20, 2024, 3:19pm UTC](https://gov.gmx.io/t/avalanche-single-token-markets/3464/5 "2024-05-20T15:19:08Z")
full support. Avax whales seem to like to use GMX on the avax side and however we can bolster their support and use of GMX we should do it. ---
**Author:** ![coinflipcanda](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/coinflipcanda/32/207_2.png) [@coinflipcanda](https://gov.gmx.io/u/coinflipcanda)\ **Post date:** [May 21, 2024, 11:38am UTC](https://gov.gmx.io/t/avalanche-single-token-markets/3464/6 "2024-05-21T11:38:51Z")
This discussion has been moved to snapshot voting [https://snapshot.org/#/gmx.eth/proposal/0x1df14661e5fcc6ad28213852a7366ed880e5809de3f3311872727ade594fa1f8](https://snapshot.org/#/gmx.eth/proposal/0x1df14661e5fcc6ad28213852a7366ed880e5809de3f3311872727ade594fa1f8) ---
**Author:** ![Jonezee](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/jonezee/32/1238_2.png) [@Jonezee](https://gov.gmx.io/u/Jonezee)\ **Post date:** [May 24, 2024, 2:55pm UTC](https://gov.gmx.io/t/avalanche-single-token-markets/3464/9 "2024-05-24T14:55:37Z")
If you haven’t voted on this proposal yet, please do!