Voltz launches the interest rate swap market on GMX, offering ETH returns without the need to wager them via the GMX liquidity token GLP

As a liquidity token for GMX, a decentralized perpetual currency exchange built on top of Arbitrum, GLP provides an APR on deposit ETH and driven by fees generated by trading, liquidations, and minting/redeeming GLP.

LONDON, February 15, 2023 /PRNewswire-PRWeb/ — Voltz Protocol, DeFi’s first Synthetic Interest Rate Swap (IRS) AMM, is launching a GLP yield market on GMX, offering traders the opportunity to speculate on the yield that GLP will generate that will be deposited ETH, without having to own or use GLP. GLP is the liquidity token of the GMX exchange, a decentralized, perpetual exchange built on Arbitrum.

Simon JonesCEO and co-founder of Voltz Labs, said, “GLP is the first Voltz protocol market to be launched on Arbitrum, so this is exciting for the community for a number of reasons. The GLP market itself is extremely volatile week to week This market on the Voltz Protocol offers traders the opportunity to speculate on GLP returns without ever owning GLP and since the returns are deposited ETH it also opens the door to interesting ones ETH-based structured products also for traders.”

Trading on GMX is facilitated by a multi-asset pool called GLP. It is 50-55% stablecoins, 25% ETH20% BTC and 5-10% other altcoins like Chainlink and Uniswap.

Liquidity is added when users mint GMX Liquidity Provider Tokens (GLP). In exchange for minting GLP, they earn 70% of all fees generated on that particular blockchain. Unlike some liquidity pools, GLP does not suffer a temporary loss.

Anyone can become a provider of this liquidity pool and earn fees for doing so. Users who wish to trade Perpetual Swaps or Spot on GMX can do so with the provided assets and now they can trade GLP returns specifically on the Voltz protocol. In addition, the GLP pool is a counterparty for the traders; Because GLP token holders provide the liquidity used for leveraged trading, they benefit when traders lose – and vice versa.

Because the GLP price is a proxy for traders’ directional views on many different assets, it offers traders the opportunity to use the Voltz interest rate swap protocol to hedge or speculate on future interest rates.

The story goes on

To learn more about the Voltz protocol, visit voltz.xyz and follow them on Twitter @voltz_xyz.

For media inquiries please contact Phil Leroy at (310) 260-7901 or phil(at)melrosepr(dot)com.

About the Voltz protocol
The Voltz Protocol provides the underlying framework that DeFi needs to become the world’s financial system through its decentralized, transparent, and open-source products. Voltz is DeFi’s first synthetic interest rate swap AMM with more than $4.6 billion in fictitious trading volume. The Voltz Protocol puts the power of interest rate trading and liquidity in the hands of everyday traders and developers, ushering in a new era of composable, permissionless, and open-source financial products.

media contact

Phil LeroyMelrosePR, 310-260-7901, [email protected]

SOURCE Voltz

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