GMX Is Now Live on MegaETH

Decentralized perpetual exchange GMX has expanded to the MegaETH blockchain, marking its eighth chain deployment. The launch introduces three blue-chip markets — BTC/USD, ETH/USD and SOL/USD — backed by GMX's established liquidity infrastructure and Chainlink oracle pricing.

Traders on MegaETH can execute perpetual swaps with up to 50x leverage, benefiting from the same architecture that has processed over $360 billion in cumulative notional volume across more than 740,000 users on other chains. The initial deployment uses GMX's battle-tested smart contracts and risk parameters, with MegaETH-specific optimizations planned for later phases.

Two-Phase Rollout

Phase 1 prioritizes stability, leveraging Chainlink oracles, pooled GLV liquidity, and audit-proven contracts. Phase 2 will introduce enhancements exploiting MegaETH's 10-millisecond block times and sequencer-level Chainlink Data Stream integration, enabling execution speeds under a few hundred milliseconds. This measured approach aims to safeguard users while unlocking the chain's real-time capabilities.

Liquidity Vault and Incentives

In addition to trading, users can provide liquidity via the new GLV: [USDM/USDM] stablecoin vault, which accepts the chain's native USDm token. The vault automatically rebalances across markets based on trader demand and generates yield from three sources: perpetual trading fees, swap fees, and buy/sell fees on the liquidity tokens themselves. The vault may also be eligible for chain-specific points incentives.

The GMX referral system is live at launch, allowing users to earn commissions by sharing referral links. GMX's deployment on MegaETH follows its multichain strategy, which already covers Arbitrum, Avalanche, Botanix, Solana, Base, BNB Chain, and Ethereum Mainnet.