GMX just made trading on its decentralized perpetuals platform feel a lot more like using a regular app. The protocol’s July updates introduced native smart wallet support alongside Express and One-Click trading features, essentially removing the friction that makes decentralized exchanges feel clunky compared to their centralized counterparts.
What actually changed
The two updates delivered in July brought a handful of meaningful improvements beyond the headline features. Swap routing visuals got an overhaul, giving traders clearer insight into how their orders are being routed across liquidity pools.
Users can also install the GMX app directly on their devices. This is a progressive web app approach that lets traders bypass the browser entirely and access the platform from their home screen.
The bigger picture for GMX
GMX operates on Arbitrum and Avalanche, two networks that have carved out significant niches in the DeFi ecosystem. The platform completed its phase-out of the legacy V1 trading system and GLP liquidity model by July 2025, fully transitioning to the V2 architecture.
V2 centers around GM pools and GLV vaults as the primary liquidity products. Instead of one giant pool absorbing all risk, V2 breaks liquidity into isolated markets, giving liquidity providers more granular control over their exposure.
The protocol has also expanded its asset coverage beyond crypto. GMX now supports perpetuals markets for gold and silver, operational around the clock.
On the token economics side, the GMX DAO has been running a fee-based buyback program since March 2026. The DAO has repurchased over 384,000 GMX tokens for roughly $2.4 million, working out to an average price of approximately $6.25 per token.