GMX received a $4 million trading reward from the Avalanche Foundation

ChainCatcher news, the derivatives protocol GMX has received a $4 million trading reward from the Avalanche Foundation, which will be distributed in the form of AVAX Tokens over the coming months to support GMX and partner platforms built on GMX, including TraderJoe, YieldYak, and Dopex.

It is reported that this is part of the $180 million liquidity incentive of Avalanche Rush. The Avalanche Foundation launched this liquidity mining incentive program in August 2021, aimed at developing the Avalanche DeFi ecosystem. The incentive program offsets some of the risks associated with providing liquidity on GMX and enables partner protocols to build new products on top of the revenue model used by GMX. (source link)