Decentralized perpetual alternate $GMX has launched 24/7 gold and silver markets on Arbitrum, drawing greater than $10 million in buying and selling quantity on the primary day, the protocol introduced on X.
The brand new XAU/USD and XAG/USD markets are artificial perpetuals settled onchain utilizing WETH-$USDC liquidity. Pricing is secured by way of Chainlink Knowledge Streams, the identical oracle infrastructure that underpins $GMX‘s present perp markets, in accordance with a weblog put up from the alternate.
“We’re excited to see $GMX undertake Chainlink to energy its newly launched gold and silver perpetual markets,” mentioned Johann Eid, Chief Enterprise Officer at Chainlink Labs. “That is how we enter a brand new period the place the world’s largest commodities are traded onchain at an enormous scale.”
The launch comes at a turbulent second for treasured metals. Gold climbed above $4,800 per ounce on Tuesday, rebounding from prior losses because the U.S. and Iran signaled their willingness to renew ceasefire negotiations.
$GMX mentioned gold and silver symbolize the place to begin for a broader push into real-world asset (RWA) derivatives, with further commodities and asset lessons underneath analysis. Each swimming pools are included within the protocol’s GLV [ETH-$USDC] vault, permitting liquidity suppliers to earn charge income as demand scales. Merchants on Base, BNB Chain, and Ethereum mainnet may entry the markets through $GMX‘s multichain infrastructure.
The transfer locations $GMX alongside a rising roster of DeFi protocols racing to carry conventional asset publicity onchain. Hyperliquid’s permissionless HIP-3 markets have seen commodity perpetuals, significantly oil, dominate buying and selling exercise in latest months.
The broader tokenized commodities sector has expanded quickly. Tokenized gold surpassed $4 billion in market worth in January and is now approaching $5 billion, led by Tether Gold and Paxos Gold. New entrants like Theo have launched yield-bearing tokenized gold merchandise, whereas the World Gold Council has proposed shared infrastructure to decrease obstacles to entry and enhance fungibility throughout digital gold merchandise.
The expansion underscores demand for permissionless treasured metals publicity, significantly as geopolitical uncertainty continues to drive curiosity in safe-haven property traded exterior conventional market hours.
This text was written with the help of AI workflows. All our tales are curated, edited and fact-checked by a human.
