New Potential GM Listings - Q1 2024

Below is a list of new Oracle feeds that have completed testing and are now available on Chainlink Data Streams’ Arbitrum deployment. Chaos Labs has completed a review of the Oracle feeds and provided technical recommendations for initial listing parameters.

The available tokens for listing are: ATOM, NEAR, MATIC, OP, AAVE & AVAX

Below are some observations regarding each token. This post is to gain preliminary feedback from governance for prioritising voting on the listing of new tokens.

Token: AVAX

Coingecko Rank: 10

Mcap: 15.4 billion

Open Interest: 268 million


  • Viable to be listed as a synthetic market or via bridged AVAX (Wormhole)
  • Listing this market may lead to expanded exposure of GMX’s AVAX-backed markets on Avalanche, but also may siphon some volume away from Avalanche’s GM markets
  • AVAX is a top-ten market by cap, volume and open interest

Token: MATIC

Coingecko Rank: 15

Mcap: 8.2 billion

Open Interest: 223 million


  • Viable to be listed as a synthetic market via bridged MATIC (Wormhole) or Arbitrum canonical bridge
  • Matic token is currently undergoing a migration to the new POL token, which could require a subsequent migration of both liquidity and Oracle feeds. There is also the possibility of volatility in liquidity as the token migration happens in Q2 2024
  • Interesting addition for L2-focused vaults that integrations may look to build

Token: ATOM

Coingecko Rank: 25

Mcap: 3.9 billion

Open Interest: 102 million


  • Viable to be listed as a synthetic market or via bridged stATOM (via Axelar)
  • stATOM is utilised in a small quantity currently on the chain (stATOM/wstETH on Camelot). Lacking an oracle, such integration using the bridged stATOM token may be difficult, but ATOM via Axelar remains an option

Token: OP

Coingecko Rank: 29

Mcap: 3.6 billion

Open Interest: 218 million


  • Viable to be listed as a synthetic market, with no specific recommendation for a bridged option
  • Draws interest in exposure as more perp traders and protocols flee from Optimism to Arbitrum but may look to continue actively trading this pair
  • Interesting addition for L2-focused vaults that integrations may look to build

Token: NEAR

Coingecko Rank: 32

Mcap: 3.4 billion

Open Interest: 96 million


  • It is viable to be listed as a synthetic market or directly via the native Near bridge which currently connects to Ethereum, but it may be extended to Arbitrum.
  • There is no commitment to extend the bridge, but discussions are ongoing
  • Near does provide Data Availability to orbit chains, so it has a growing alignment with the growth of Arbitrum bringing cross-over interest

Token: AAVE

Coingecko Rank: 63

Mcap: 1.3 billion

Open Interest: 53 million


  • Viable to be listed utilising the canonical token from the Arbitrum bridge
  • The current capacity on AAVE V3 Arbitrum is low, but there is scope for this to grow as more AAVE is bridged to Arbitrum, with AAVE being the second largest Arbitrum protocol by TVL
  • AAVE DAO is currently evaluating the integration of GM tokens as collateral in AAVE V3 (sentiment vote has happened for gmBTC)

Open Interest stats taken from on February 14th

Recommendation report for initial parameters from Chaos

The above list reflects the current live feeds, community feedback and sentiment votes will be utilised to commission additional evaluation and recommendations to Chainlink for listing new tokens.

Possible tokens for discussion

SUI #5 in volume and # 16 in open interest

ORDI #6 in volume and #11 in open interest

DOT #31 in volume and #13 in open interest

STX #16 in volume and #25 in open interest

TIA #29 in volume and #23 in open interest

This list is not exhaustive but reflects community recommendations shared with the poster


This announcement and subsequent discussion are for informational purposes only and do not constitute legal, financial, or investment advice. GMX or any other parties make no warranties or representations regarding the accuracy, completeness, or suitability of the information presented and will not be liable for any losses, damages, or adverse consequences that may arise in relation to this announcement.

It is strongly advised to undertake your own due diligence and seek advice from relevant professionals before making decisions based on this announcement.


All the tokens, those that fulfill the immediate requirements for listing and those that would need low-latency Chainlink oracles, sound good to me. I think large enough availability liquidity not to be easily manipulated and good OI.


Happy for all the proposed to be listed.

Thoughts for each:

AVAX - in favour of bridged AVAX, but dont want to take the spot light off AVAX gm deployment.
MATIC - worth being cautious over the token migration especially how to convert the MATIC in GM to POL, but perhaps putting the wheels in motion to list POL as soon as its available to garner interest.
ATOM - be good to have cosmos ecosystem exposure on GMX, synthetic market probably the easier option
OP - definitely be good to have for a bit of red vs blue rivalry
NEAR - if commitment can be made in extending bridge to Arbitrum this will further cement GMX as a corner stone in ETH L2 defi
AAVE - providing a market for AAVE on gm could be an interesting one, specifically if eventually there were to be a market for gmAAVE on AAVE itself.

Regarding the other tokens for discussion, i am in full support of these also!


Thoughtfully curated list - excited for the opportunities it could generate for protocol growth. Think SUI, ORDI, STX, and especially TIA would be positive catalysts as well - highlights GMX’s versatility in integrating with more IBC and BTC ecosystems.


Safety is paramount and in terms of my personal opinion. I would ask to start with what would ask we have an implementation timelines starting with the market that could be put on GMX in a timely manner. Obviously you want deep liquidity in each market so simply timing it out would be a good start.

I would also say it’s great hearing from Coinflipcanda and as this process moves forward lets talk about the next 11 opportunities to continue to bolster GMX opportunities. We need to keep the gas on the pedal and I am confident members of the community want to help.


I like the idea of listing POL as soon as it’s available. I think that makes a lot of sense; it will receive more attention and get more traction than a short-lived Matic pool.


I like the spread of coins selected, but don’t it’s worth taking time on MATIC, just wait for the POL transition and re-consider it then.

We definitely need to add more long-tail assets to compete with the other Perp DEXes out there. This is a good list of initial tokens. And the list of possible tokens for discussion are good also.

I would also add for discussion: SEI, APT, INJ, RNDR, BEAM, BLUR, WLD. All are in the top 100 in market cap and have pretty good OI across the other Perp DEXes.

1 Like

I think the Matic migration may be a bit complicated to handle and GMX should skip that until they are fully switched over to their new coin.

The others I am fine with.


Why choose?
I want them all and more.

Agree, we need more listings faster to spur growth. Add them all and stop taking so long to get to a vote and implement.

Will be moving proposals for each token to Snapshot today for listing: AVAX, POL, ATOM, OP, NEAR and AAVE

Unless there is an objection priority will be placed on the tokens with the highest governance support, but with actual deployment of pairs for each being completed once the actual implmentation is signed off by the security committee.

Specific tokens could take longer to complete due to completion of any integration requirements such as where bridging arrangements are required or completion of the migration for MATIC to POL.

With regards to additional tokens mentioned, governance feedback on the forums will help to provide the priorties for new token listings, so lets keep discussing, as the forums are the first line of our public discourse.

1 Like

LETS GO!!! @coinflipcanda can you explain the process from the security committee?

Looking forward to the vote, and many new enticing markets to LP and trade on :pray:


Think along the lines of safe market parameters, bridge risks, and such.


Anyone else having issues voting using snapshot? RPC issue?

No its working fine for me.

1 Like

Have had no issue either.

1 Like

The Snapshot vote on this proposal has concluded, and most of the suggested markets received overwhelming support from the DAO voters.

See: Snapshot

The first three new GM markets have been initialised today. Those are AAVE, NEAR and ATOM. You will be able to find more details about these 3 markets and the opportunities for early liquidity providers in the launch announcement on X:


Got it sorted with Snapshot team on Discord - thank you guys for replies.