GMX 🫐 Re-poster
On-chain perpetual & spot dex: BTC, ETH, SOL and many other top crypto assets available with up to 100x leverage directly from your own wallet
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IMPORTANT ANNOUNCEMENT: Revision of Open Interest Balance Calculation
Effective Monday, December 22, there will be an update to the method used for calculating the open interest (OI) balance.
Further details are provided below:
────────────────────
Existing Calculation Method
• Currently determined by summing the USD value of all positions at the moment they are initiated.
Revised Calculation Method
• Now determined by summing the notional value of all positions.
────────────────────
Illustration (existing calculation)
1. BTC price = $100,000
User A initiates a long position of $100,000 (1 BTC).
2. BTC price increases to $105,000
User B initiates a short position of $100,000 (0.95 BTC).
3. Long–short balance = $100,000 : $100,000
────────────────────
Illustration (revised calculation)
1. BTC price = $100,000
User A initiates a long position of $100,000 (1 BTC).
2. BTC price increases to $105,000
User B initiates a short position of $100,000 (0.95 BTC).
3. Long–short balance = 1 BTC : 0.95 BTC
With the revised calculation, it becomes possible to open an additional short position of 0.5 BTC to achieve a complete balance between longs and shorts.
────────────────────
Rationale Behind This Change
• Facilitates more precise balancing between long and short positions.
• Enhances the overall operational integrity of the protocol.
────────────────────
Immediate Implications Upon Implementation
The following elements will be promptly adjusted in accordance with the new calculation:
• Funding fees
• Borrowing fees
• Price impact
It may take some time for markets to realign and for these values to reach a state of stability.
"""
IMPORTANT ANNOUNCEMENT: Revision of Open Interest Balance Calculation
Effective Monday, December 22, there will be an update to the method used for calculating the open interest (OI) balance.
Further details are provided below:
────────────────────
Existing Calculation Method
• Currently determined by summing the USD value of all positions at the moment they are initiated.
Revised Calculation Method
• Now determined by summing the notional value of all positions.
────────────────────
Illustration (existing calculation)
1. BTC price = $100,000
User A initiates a long position of $100,000 (1 BTC).
2. BTC price increases to $105,000
User B initiates a short position of $100,000 (0.95 BTC).
3. Long–short balance = $100,000 : $100,000
────────────────────
Illustration (revised calculation)
1. BTC price = $100,000
User A initiates a long position of $100,000 (1 BTC).
2. BTC price increases to $105,000
User B initiates a short position of $100,000 (0.95 BTC).
3. Long–short balance = 1 BTC : 0.95 BTC
With the revised calculation, it becomes possible to open an additional short position of 0.5 BTC to achieve a complete balance between longs and shorts.
────────────────────
Rationale Behind This Change
• Facilitates more precise balancing between long and short positions.
• Enhances the overall operational integrity of the protocol.
────────────────────
Immediate Implications Upon Implementation
The following elements will be promptly adjusted in accordance with the new calculation:
• Funding fees
• Borrowing fees
• Price impact
It may take some time for markets to realign and for these values to reach a state of stability.
"""
Over the last week, approximately 21,976 GMX tokens have been repurchased from the open market via the Buyback & Distribute model, benefiting GMX stakers.
The current annual percentage rate (APR) for staking stands at 20.09%.
The current annual percentage rate (APR) for staking stands at 20.09%.
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