I fully agree with you that it is better to continuously improve and improve the existing product experience than blindly pursue expansion at the moment
I suggest defining the strategy first. With no strategy clearly defined, any task prioritization doesnt make sense, and would be a waste of resources.
I see two major strategic ways of GMX development:
- To focus on individual (âretailâ) traders
- To focus on integrations with other protocols
Unfortunately, I have no idea what is the current GMX revenues/fees split between the two, but the hard truth is that at the moment, GMX is not usable for a retail trader. Of course, it can be used by degens/gamblers, but for the professional traders who might want to switch from centralized exchanges (or from another DEX), the lack of TradingView charts/indicators/drawing tools is a no-go (professionals just cannot trade without these tools). If the team still thinks that individual traders is the way to go, they must have a look at DyDx UI/UX (Iâm not speaking about their tokenomics, only UI/UX), and go beyond that.
If strategic focus is on integrations, you better stop wasting your time on these UI/UX issues completely (position sharing, TradingView integrations, 1-min charts, etc).
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I think most of the things you addressed will be worked on by the front-end dev team in parallel. X will mostly focus on decentralisation and X4 after that.
Front-end team will focus on bringing the best experience to ALL kind of traders.
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Thank you for the feedback on this, in my view the strategy should be to create one of the best places to trade on-chain. So improving reliability, improving the interface, trading view as listed is being worked on.
Traders should also have access to trade a large range of tokens, and to enable that we need to support synthetic markets.
As @Tano mentioned, interface improvements and synthetic markets are being worked on in parallel.
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just a reminder that I hope weâre putting enough time in making sure the contracts are secure enough. We know what happened to a lot of DeFi platforms.
thank you for the reminder, we will continue having multiple reviews and will likely schedule two audits for the new contracts, will also look into how we can improve security further
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Just as a FYI, if you yâall arenât already aware of a Cosmos ecosystem bridge, there is a project called Axalar that has reputable team that built a bridge to Avalanche C-Chain.
There is a curve pool to swap from their bridge token to Avalanche USDC, which also bridges to/from other ecosystems as well.
There are a handful of premium assets in that ecosystem, and some upcomingâŚone being NOM, formally named Nomic - who is building a stable coin using Bitcoin similar to Maker on Ethereum.
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will check it out, thank you
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@xdev_10 â Is it worth pinning this post on the gov forum somehow and maybe re-visiting and updating it as priorities shift/change?
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sorry for the late reply, we will likely have a follow up post after the code for synthetics is ready
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Any updates on synthetic markets.
Is the code mostly done and being audited or still being on the final coding stages?
Audits are done, code changes after audit results are now being done, tesntet version, full launch if I can guess.
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Awesome! I Hope this comes out soon.
Stay tuned, wont be long!
I read somewhere V2 will no longer support no slippage orders, is this true or just for some tokens?
That is correct, orders will no longer have zero price impact. Offering that is unfortunately not feasible with markets for many different, long-tail altcoins.
You can follow the Dev updates here: GitHub - gmx-io/gmx-synthetics
And the weekly summaries via: Telegram: Contact @GMX_Announcements
@xdev_10 So for stocks & forex, which is not very suitable for the GMX V2 model as no good long collateral tokens, youâd try to use PVP AMM?
I guess that youâd use only Stablecoins as LP to build PVP AMM for forex/stocks?
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Would love to see this for 2024.