Discussion Of New Pairs For GMX v2

Feature Discussion
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The post is being created as a place for the community to collect their thoughts and discuss the listing of new assets on GMX v2 and the feasibility.

I think as a must the token suggestions should be a token with consistently high trading volume (stats for which can be found on coingecko) and be available through Chainlink Data Streams.

A good rough format for making a suggestions could be as follows for example:

Token: Ticker
30d Daily Average Volume: $x
Available on Chainlink Data Streams: Yes/No/Unsure
Native/Synthetic Pool: Native/Synthetic
Chain: Arbitrum/Avalanche

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Token: $BNB
30d Daily Average Volume: $928.72m
Available on Chainlink Data Streams: Yes (assumption)
Native/Synthetic Pool: Native
Chain: Arbitrum

Currently there is very little liquidity for wBNB on Arbitrum, but like with the SOL GM pools GMX has the opportunity to become the largest pool on Arbitrum for BNB.

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Have some fun thoughts about this!

For avax, the most obvious one is $JOE to me, its super popular among avax people.

I think adding L1s w a following helps too, get sui and aptos in there bc why not, since they are newer i could see more speculative interest.

Will think more and add to this later!

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I am personally a big fan of the non-synthetic pools like LINK-USDC, SOL-USDC, UNI-USDC, etc. due to the direct exposure to the tracked asset.

Would like to see more of those pools for bluechip L1 / L2s like BNB, MATIC, TIA, etc. Think these could be best to capture sufficient TVL and trading volume at the same time. Looking at the current TVL across various pools, I believe it will be more difficult to attract liquidity with synthetic pools or crypto assets.

One of the key strengths of GMX was always deep liquidity, so prioritising pools / assets that have the potential to offer the best liquidity across other DEX perp protocols makes sense.

For the synthetic pools I would like to see some major FOREX pairs to see how well liquidity and trading volume can be attracted with isolated pools for this type of market. USD-EUR; USD-GBP and USD-JPY would be my top 3.

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For avax chain is should be good to add $joe and for arbitrum $bnb should be the way

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There needs to be a GMX market!

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I think more currencies with larger market capitalization can be added, such as: bnb, op, meme, ordi, etc.

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It can be seen from kwenta traders that trading other altcoins is very popular with them.
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This user has been trading on gmx before, and now the trading volume is basically active on kwenta. He likes to trade altcoins very much.

I feel that in order to attract more traders, we must increase the variety of altcoins. This is also a feature of v2.

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I would love to see the following:

INJ
BNB
XRP
Cardano
Matic
OP
FIL
SNX
RNDR
AAVE
MKR

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Actually thats a good idea. If we are on AVAX adding some additional pairs with Strong project on chain could be interesting.

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I agree, generally in favor of assets that can be backed not via synthetic markets. The larger alt tokens seem like good candidates.

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Off the head, contenders:

ADA
MATIC
BNB
OP
QNT
LDO
TIA
MKR
DYDX
INJ
RNDR
RUNE
ATOM

Plus GOLD, as a leading non-crypto asset.

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Also we should add trendy coins. Narrative traders are majority of on chain perps traders.
We should add sections to UI like BRC-20, AI, gaming, dexes, memes etc.

For brc i would suggest : SATS and ORDI
AI: INJ
Gaming: IMX , RNDR
Dexes : Dydx , SNX and GMX
memes: shibainu (around 600mil 24h volume)

Also TIA would be good (330mil 24h volume )

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Thank you for the feedback so far lads, i’ve collected most of the suggested assets in here and put them into a sheet with 30d volumes (as of last Tuesday)

The other columns are mostly guesses currently.

Based on feedback/mentions there is strongest desire for:

  • BNB
  • OP
  • MATIC

Other notables incl:

  • TIA
  • INJ
  • GMX
  • DYDX
  • ADA
  • JOE
  • MKR
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15

Hey!

We would love for CAKE to be supported, especially if BNB is supported, so we can get some sweet beta plays / pair trades going.

CAKE volume has been fairly decent since the launch of veCAKE, and the deflationary mechanics of CAKE. Some veCAKE holders may also want to hedge their locked position on secondary markets too.

CAKE liquidity on ARB is admittedly abysmal at this point in time, but with our veCAKE managers coming online in the next few weeks, this should change.

Happy to be contributing to this community, excited for GMX in 2024!

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That one is a good suggestion for multiple reasons imo :

  • There are already secured solutions to bridge $CAKE to Arbitrum

  • $CAKE is very popular amongst BNB users, it can potentially attract new users to GMX

  • Like $BNB, one of $CAKE utility is to participate to ICOs. During these events $CAKE volumes increase significantly

Muz :blueberries: :sparkles:

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I would like to see
$OP, $MATIC, $MKR, $SEI, $TIA

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The only thing I’d want to add to this is LDO

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Updated the spreadsheet with the latest suggestions

BNB has been voted to add as a new market for v2, which makes MATIC and OP the most requested markets in this forum with 5 mentions.

Next with 4 are TIA and MKR, and 3 are GMX and INJ

I will continue to update this spreadsheet so please continue to make suggestions.

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Thank you for putting this together.

1 Like