In this Twitter Space, The Blueberry Podcast hosts Jone and coinflicanada from the GMX team and eric.avax and Luigi from the Avalanche team.
The discussion was mainly around the Avalanche Rush program, the GMX Trading competition, subnets, the reasons for Avalanche and GMX to work with each other, and about the plans of GMX on using the Avalanche Rush fund.
Read our notes below to learn more.
Avalanche Rush Program
It was announced around a year ago to bootstrap DeFi adaption in Avalanche.
AAVE and Curve participated, and also native projects like Trader Joe participated.
General Overview of Avalanche
The DeFi ecosystem is massive in Avalanche, a lot of core primitives exist.
It is EVM-compatible and easy to migrate.
Two features that set Avalanche apart:
Avalanche consensus, allows very low finality.
Subnets: dApp-specific chains.
Avalanche’s Decision to Work With GMX
GMX has a great UI/UX and successful tokenomics.
GMX is a very innovative protocol.
GMX is one of the first projects that provides a user experience similar to CEXs.
Avalanche wants to reward GMX as they are great builders.
GMX helps significantly to contribute to the AVAX ecosystem.
Avalanche is very suited to GMX.
The low finality of Avalanche is the main reason for GMX to work with Avalanche.
GMX’s Plans On How to Use The Fund
Strengthening integration across ecosystems.
Stimulate user experience of GMX on Avalanche.
Engaging Avalanche community.
GMX Trading Contest
To expose as many as people possible to GMX on Avalanche.
To develop a better user experience for users.
$100k worth of AVAX will be distributed.
Rewarding people with the highest ROI.
Subnets
Subnets are the way that Avalanche horizontally scales.
Allows programming of your own blockchain.
Subnets can be permissionless.
Q&A
Q: What are the possibilities or integrations that applications can build on GMX?
A: Social trading, options, and lending protocols can be built upon GMX.
Q: Does GMX have plans to deploy your dApp on Avalanche subnets?
There is a possibility that in the future, all DeFi products can exist in their own subnet.
GMX can evolve into a subnet only if it can work composable in every EVM environment.
Currently, the team is waiting for the developments on subnets.