SINGAPORE, Jan. 31, 2023 /PRNewswire/ — dappOS announced today that it has joined forces with decentralized spot and perpetual exchange GMX to provide the seamless user experience empowered by the dappOS Web3 operating protocol. This collaboration will lower barriers to entry for users to access GMX’s DeFi functions on the Arbitrum and Avalanche blockchains.
Darren Mayberry, Ecosystem Lead at dappOS shares his views on this new product launch: “GMX empowers users by letting them benefit from its low swap fees and zero price impact trades when leverage trading and market making through GLP. dappOS simplifies the procedures and makes DeFi intuitive, allowing users to access GMX seamlessly cross-chain. Together, we can realize the promise of Web3 for truly democratic decentralized finance.”
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades and enables permissionless leveraged trading. Trading is supported by a unique multi-asset pool, GLP, which earns liquidity providers fees from market making, swap fees and leverage trading.
The exchange provides services on the Avalanche blockchain and Arbitrum Layer-2. GMX users can trade, hedge and earn yield by providing liquidity for leading tokens including ETH, BTC, AVAX, UNI and LINK. Dynamic pricing is supported by Chainlink oracles and an aggregate of prices from leading volume exchanges.
GMX became the top dApp on Arbitrum by TVL and the leading perpetual exchange in DeFi, over the last year. The total trading volume on the Ethereum Layer-2 exceeded $80 billion, as of December 2022. An additional $18.4 billion in trading volume has been realized on the Avalanche blockchain, by more than 22,400 users trading on GMX.
dappOS is a Web3 operating protocol. dappOS improves Web3 user experience and makes it as frictionless for users as using their familiar mobile apps. This helps to overcome the usual hurdles for users, such as Web3 wallet setup, gas token purchase and bridge tokens from one blockchain to another. dappOS was also selected to join the Binance incubation program Season5.
dappOS focuses on solving the complicated issues behind the scenes. With its innovative solution, the workflow on dApps can be simplified, and the same seamless user experience can be provided to users from different chains. To exemplify, an A-chain user can use B-chain dApps through the same user interface as on A-chain. In this way, dApps can be used across chains seamlessly, without incurring unique gas fees on each chain.
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