# Listing Proposal: List $ATH (Aethir) Perps on GMX **URL:** \ **Category:** Proposals\ **Tags:** new-assets\ **Created:** [May 13, 2025, 12:52pm UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553 "2025-05-13T12:52:24Z")\ **Posts on this page:** 16\ **Page:** 1
**Author:** ![cryptickatz](https://avatars.discourse-cdn.com/v4/letter/c/7ba0ec/32.png) [@cryptickatz](https://gov.gmx.io/u/cryptickatz)\ **Post date:** [May 13, 2025, 12:52pm UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/1 "2025-05-13T12:52:24Z")
# **TL;DR** Proposing listing $ATH perpetuals on GMX, giving traders leveraged exposure to decentralized GPU compute — a distinct and high-growth vertical in the DePIN sector. # **Proposal** Hey GMX community — I’m with Aethir, and we’d like to propose listing **$ATH perpetuals** on GMX. ## **Why Aethir matters?** Aethir is a decentralized cloud infra layer powering compute-heavy workloads like **AI, gaming, rendering** , and more. We aggregate enterprise-grade GPUs from global suppliers into a single, distributed network — delivering scalable compute to both Web2 and Web3. We’re currently the **largest decentralized GPU infra provider** , with: - **45,000+ enterprise-grade GPUs** online (428,000+ Total GPU containers) - **$120M+ in annualized revenue** ## **About $ATH** $ATH is Aethir’s native token — a new way to gain exposure to the booming GPU economy. It’s already listed on major CEXs: **Coinbase, OKX, Kraken, and Bybit etc**. Now, we’re expanding our DeFi ecosysystem. A GMX listing would make **$ATH the third DePIN perpetual** alongside $RENDER and $FIL — but with a **distinct thesis** : high-performance _compute infra_, not rendering or storage. ## **Why GMX?** - _Arbitrum-Native Alignment_: Aethir launched and grew on Arbitrum. Today, **140K+ wallets** hold $ATH on Arbitrum. $11M+ in volume has already been traded on GMX by ATH holders in the last 9 months. - _DePIN Fit_: $RENDER = rendering, $FIL = storage. $ATH completes the **DePIN trifecta** by bringing compute into the mix. - _DeFi Liquidity + Narrative Fit_: GMX remains one of the most trusted and liquid perp venues in DeFi. A natural home for leveraged GPU exposure. ## **What GMX Gains?** - _New Volume_: ATH has strong daily activity ($120M CEX Perp volume) and volatility (8.8% 30d avg) — ideal for perps. - _Fresh Trader Cohorts_: Access to our **700K+ AI and DePIN-native community** , most of whom aren’t yet active on GMX. - _Marketing Support_: We’re happy to co-market the listing via **joint campaigns, ecosystem pushes, and community activations**. ## **ATH Token Metrics** | **Metric** | **Value** | | --- | --- | | Market Cap | $388M | | FDV | $1.8B | | Cumulative Spot Volume | $14.1B (Token Terminal) | | Avg Daily Spot Volume | $44.9M (Token Terminal) | | Avg Daily Perp Volume | $120M (Coin Glassl) | | DEX Liquidity | $4M ($200K on Arbitrum) | | 30-Day Volatility | 8.80% | | Existing Perp Listing | dYdX | | Oracles | Pyth | ## **Next steps** We’d love to hear feedback from the GMX community and contributors. We understand Chaos Labs would conduct a risk analysis and we’re ready to support with any required data. If the reception is positive, we’re excited to move toward integration. Thanks for considering — **Team Aethir** ---
**Author:** ![Saurabh](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/saurabh/32/1237_2.png) [@Saurabh](https://gov.gmx.io/u/Saurabh)\ **Post date:** [May 13, 2025, 1:10pm UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/2 "2025-05-13T13:10:18Z")
Hey @cryptickatz, Thanks for submitting the proposal! The listing committee will review the proposal and share their thoughts on the forum! ---
**Author:** ![ImmieV](https://avatars.discourse-cdn.com/v4/letter/i/f05b48/32.png) [@ImmieV](https://gov.gmx.io/u/ImmieV)\ **Post date:** [May 13, 2025, 9:05pm UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/4 "2025-05-13T21:05:49Z")
Hi Cryptickatz I appreciate you taking the time to present why $ATH should be listed. It is actively being reviewed and should there be any additional questions we can most certainly circle back. Should community members have any questions I would encourage them to ask. ---
**Author:** ![cryptickatz](https://avatars.discourse-cdn.com/v4/letter/c/7ba0ec/32.png) [@cryptickatz](https://gov.gmx.io/u/cryptickatz)\ **Post date:** [May 14, 2025, 10:14am UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/5 "2025-05-14T10:14:56Z")
Appreciate it, @ImmieV. Eager to hear the Listing Committee’s and community’s thoughts. ---
**Author:** ![ImmieV](https://avatars.discourse-cdn.com/v4/letter/i/f05b48/32.png) [@ImmieV](https://gov.gmx.io/u/ImmieV)\ **Post date:** [May 14, 2025, 1:57pm UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/6 "2025-05-14T13:57:19Z")
Hey team @cryptickatz — thanks for the detailed proposal around $ATH. Strong case overall, and I appreciate the clarity around volume, narrative alignment, and DePIN positioning. One key area the committee is actively evaluating is DEX-side liquidity on Arbitrum, especially as it relates to the viability of perpetual trading on GMX V2. Currently, the ~$200K liquidity cited on Arbitrum is a bit light for deep perp markets. For listing to move forward, it would be helpful to understand: Would Aethir be open to supporting deeper liquidity on Arbitrum, either directly or via partners? Are there plans to expand DEX-side TVL, perhaps through LP incentives, vaults, or liquidity mining programs? If listing were confirmed, would you be open to coordinating. Let us know how flexible you are on this front — happy to keep the discussion moving. Appreciate the engagement and ecosystem alignment. ---
**Author:** ![cryptickatz](https://avatars.discourse-cdn.com/v4/letter/c/7ba0ec/32.png) [@cryptickatz](https://gov.gmx.io/u/cryptickatz)\ **Post date:** [May 16, 2025, 7:52am UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/7 "2025-05-16T07:52:21Z")
Thanks for getting back @ImmieV DEX-side liquidity on Arbitrum is now at **~$350K** , and we’re planning to boost it by an additional **$300K–$350K** in the coming weeks. Alongside this, we’ll be rolling out a focused **marketing campaign** to highlight the pool’s organic performance. So far, the pool has consistently delivered **~100%+ APR without incentives** , which signals that the yield is already compelling. Rather than initiate a full-scale liquidity mining program, we believe that **better visibility and awareness** around existing yield will drive the TVL growth needed. Happy to coordinate closely on this if listing moves forward. Let us know if there’s any specific threshold you’d prefer. ---
**Author:** ![cryptickatz](https://avatars.discourse-cdn.com/v4/letter/c/7ba0ec/32.png) [@cryptickatz](https://gov.gmx.io/u/cryptickatz)\ **Post date:** [May 26, 2025, 8:18pm UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/8 "2025-05-26T20:18:27Z")
@ImmieV Was wondering if you have any update on the listing? ---
**Author:** ![ImmieV](https://avatars.discourse-cdn.com/v4/letter/i/f05b48/32.png) [@ImmieV](https://gov.gmx.io/u/ImmieV)\ **Post date:** [May 29, 2025, 10:59am UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/9 "2025-05-29T10:59:27Z")
Hi Cryptickatz let me circle back with you. ---
**Author:** ![cryptickatz](https://avatars.discourse-cdn.com/v4/letter/c/7ba0ec/32.png) [@cryptickatz](https://gov.gmx.io/u/cryptickatz)\ **Post date:** [June 6, 2025, 8:41am UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/10 "2025-06-06T08:41:25Z")
Hi @ImmieV Any updates here? ---
**Author:** ![ImmieV](https://avatars.discourse-cdn.com/v4/letter/i/f05b48/32.png) [@ImmieV](https://gov.gmx.io/u/ImmieV)\ **Post date:** [June 9, 2025, 3:06pm UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/11 "2025-06-09T15:06:22Z")
@cryptickatz apologies on the delay and will message you by EOW. ---
**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:** [June 9, 2025, 3:40pm UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/12 "2025-06-09T15:40:05Z")
thank you for your proposal. was reminded of this by the GMX community, and we are mindful of Liquidity needed for any token to succeed, as well as open interests from traders. the listing committee is definitely aware of your proposal =) ---
**Author:** ![cryptickatz](https://avatars.discourse-cdn.com/v4/letter/c/7ba0ec/32.png) [@cryptickatz](https://gov.gmx.io/u/cryptickatz)\ **Post date:** [June 25, 2025, 11:50am UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/13 "2025-06-25T11:50:19Z")
@ImmieV Just a gentle nudge here ---
**Author:** ![ImmieV](https://avatars.discourse-cdn.com/v4/letter/i/f05b48/32.png) [@ImmieV](https://gov.gmx.io/u/ImmieV)\ **Post date:** [July 2, 2025, 1:44pm UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/14 "2025-07-02T13:44:29Z")
**Thank you so much for the nudge and apologies on the delay! Your listing request actually sparked a really productive internal discussion. Appreciate how clearly the Aethir team laid everything out.** We also saw your follow-up regarding Arbitrum liquidity and it is great to hear you’re already at $350K and planning to increase by another $300K–$350K. That kind of organic yield and capital efficiency is a strong signal, and it’s clear you’re building toward sustainable traction. From the committee’s side, we wanted to flag that **relatively permissionless markets are on the horizon** , which will unlock broader flexibility for listing assets like $ATH. In the meantime, based on the current oracle setup (Pyth) and infrastructure, $ATH maybe a better fit for GMX Solana, where the alignment on oracle support and architecture is stronger. If there’s interest from the Solana contributors, I’d be happy to make the introduction. Thanks again for the engagement and congrats on the traction so far. The DePIN compute narrative is only getting stronger, and we’ll definitely be watching how Aethir evolves. ImmieV ---
**Author:** ![cryptickatz](https://avatars.discourse-cdn.com/v4/letter/c/7ba0ec/32.png) [@cryptickatz](https://gov.gmx.io/u/cryptickatz)\ **Post date:** [July 4, 2025, 9:22am UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/15 "2025-07-04T09:22:45Z")
Thanks so much for the thoughtful response, @ImmieV While GMX Solana is indeed promising, a listing on GMX Arbitrum is a more natural fit for us at this stage,given our community footprint and broader DeFi strategy. On the integration front, there’s a meaningful update we wanted to highlight: Chainlink now provides a live ATH/USD price [feed](https://data.chain.link/streams/ath-usd), which significantly improves compatibility with the current oracle setup on GMX Arbitrum and could simplify the listing process. Would love to hear if this changes the feasibility of an Arbitrum listing. Appreciate the support and engagement we’re excited to keep building toward aligned momentum. ---
**Author:** ![cryptickatz](https://avatars.discourse-cdn.com/v4/letter/c/7ba0ec/32.png) [@cryptickatz](https://gov.gmx.io/u/cryptickatz)\ **Post date:** [July 25, 2025, 9:01am UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/16 "2025-07-25T09:01:27Z")
@ImmieV any thoughts on this? ---
**Author:** ![ImmieV](https://avatars.discourse-cdn.com/v4/letter/i/f05b48/32.png) [@ImmieV](https://gov.gmx.io/u/ImmieV)\ **Post date:** [July 30, 2025, 3:01pm UTC](https://gov.gmx.io/t/listing-proposal-list-ath-aethir-perps-on-gmx/4553/17 "2025-07-30T15:01:40Z")
@cryptickatz I am shooting you a message.