Follow the road….that is all you have to do in crypto if you want to make it.
Luckily cryptocurrency is very transparent…not only from the blockchain, but project and
development teams allow an inside look into their plans aka product roadmaps like never
before in history.
So are you ready for a short road trip with yours truly?
Well bring the jams…I’m driving…because it’s time for Chico Crypto!!
Github repositories, Open source code, Roadmaps, community calls, DAO governance ... .yup the
blockchain and crypto space has brought an everlasting change to how organizations including
companies will operate in the future…
For an investor this is a beautiful thing.
The more you can predict future outcomes…the better you can invest and trade.
And these changes allow a glimpse into organizations futures like never before…
Now I’ve been eyeing a future roadmap stop from a certain crypto project for a really
long time, because I understand the gravity of this update….it’s BIG and finally it’s
weeks away from deploying to the mainnet…
That is Version 2 of GMX…
(Link #1 GMX public testnet) Back in May, the GMX team announced their
version 2 public testnet was open for all.
Now within their launch article they explain how to get setup for testing, but also have
links for testers, which we can use to see what v2 will look like…
(gmx v2 dashboard) Jumping into the v2 trading link, and then
switching to the dashboard.
We can see, GLP, the original liquidity pool token, isn’t going anywhere…it’s still
going to be used, but in a much simpler form.
GLP will consist of Bitcoin, Ethereum, USDC, Tether, & DAI…..
Altcoins are getting removed from GLP.
Altcoins are getting their own isolated pools, backed by GM liquidity pool tokens and traded
as synthetics.
Coins being considered for mainnet trading as synths look to be: Cardano, BNB, Bitcoin,
Dogecoin, Polkadot, Ethereum, Chainlink, Polygon, Solana, Tron & Uniswap…
So when v2?
When will this be launched on the mainnet??
(gmx twitter) Well going to the GMX twitter and scrolling
down in their tweets, we can see they retweeted a castle research, who did a deep research
piece on v2…castle research said “Perp DEX leader GMX has been building their v2
release for quite some time now.
But when?
Soon.
GMX v2 may be set to drop within a few weeks.
As we can see GMX retweeted this July 3rd…it’s been over 2 weeks since this.
Is v2 set to release any day now!???
(​​gmx documentation) Well this is what makes me think that yes,
v2 is coming anytime in the next 1 to 2 weeks.
GMX is updating their documentation to include version2.
As we can see, v2 right on the homepage.
Expanding out providing liquidity, they have this for v2.
Doing the same for trading, they have a section for v2, and clicking into it, they even have
hyperlinks.
Of course if we click on it, it takes us to a broken link…but the fact that they are
adding v2 into their documentation, including for contracts is a major sign that the update
is very, very close to dropping on the mainnet.
(crypto fees)(cryptofees coins marketcaps) GMX in its v1 state, in my opinion, is seriously
undervalued.
As we can see from cryptofees.info ... .GMX is in top 6 procools based on fees over the
past 7 days, averaging over 274 thousand per day…every other coin in the top 10 in fees,
basically has a 1 billion dollar marketcap or above, bitcoin, ethereum, and BNB of course
do, but also Uniswap, Arbiitrum, Optimism do, and MakerDAO is right there, just under
a billion.
((Link #2 GMX marketcap)) What is GMX’s marketcap?
Under 500 million….the only coin producing high fees, who doesn’t have that billion
dollar marketcap…and me thinks v2 is gonna be the catalyst that gets the token there…
But Version 2 of GMX isn’t going to do bullish things for GMX, projects that are ready to
deploy on top of v2 will also see very bullish movements…
The crypto project I see with a LEAD on development with GMX v2 is Archi Finance…
(Link #3 Archi Medium Post) Last month, Archi released a medium post titled
“Archi v2 update: Synthetics” which dove into the technical design of how their new
strategies would work with GMX’s new design of GM and isolated pools.
At the end of the post, the head DEV of Archi, Matt said- “I really appreciate the code
structure of GMX v2, which differs greatly from the traditional Solidity development
structure.
The entire system is based on a library design, and aspects like roles, data storage, and
events are worth learning from.
I want to express my gratitude to the GMX team for their work.”
They have been working through the code for a good amount of time, the head DEV understands
it, and they had their technical design mapped out 1 and a half months ago.
And GMX recognizes their work on v2, going to the GMX twitter and scrolling down to June
7th, we can see they retweeted Archi’s tweet about their v2 medium article…
So when Archi v2?
Well if we dive into the Archi Discord, we can see their community manager said this
regarding the question “how far are we from v2”??
(arch v2 discord) They said “both Pendle strategy and archi
v2 are half way.
However we expect archi v2 to have a longer auditing time”
Halfway there for v2, aka they are getting close…
Now, why do I see Archi Finance becoming BIG with GMX’s v2 release and their own???
Well, do you remember the bullrun of 2021?
And high APR yield farming???
Well that is going to see a resurgence with the release of GMX v2….
(gmx test APRs) Within the testnet, you can see the higher
APRs for providing liquidity to the GM pools.
Over 100 percent, for many of the pools and up to over 500 percent.
Of course test APRs aren’t exactly how they will be on the mainnet, they will be lower,
but this just shows how APRs will be higher, due to them being isolated, and each coin
having different risk factors.
(Link #4 Fungi Alpha Tweet) An @FungiAlpha on twitter explains this very
well.
They tweeted “What's new in Archi v2?
As said earlier, GMX v2 strategies (this makes Archi be the first team to provide leveraged
yield farming on top of GMX v2).
With GMX v2, a new token will be introduced - GM.
GM is GMX's liquidity token for synthetics, same as GLP is the liquidity token in GMX
(which doesn't offer synths).
GM will be home to several isolated pools, each coming with a different risk caliber.
This is great for Archi, as it will enable more pools, and with different risk profiles.
On a sidenote, this potentially means higher APRs :)
Archi is the first project ready to take advantage of these coming high APRs by letting users
leverage their GM positions, to earn even higher APRs..
So my friends GMX v2 isn’t just another roadmap stop….it’s a stop that could bring
in the resurgence of high APR yield farming just in time for the NEXT Bull run.
The new GM pools will be a hotspot for liquidity providers to acquire as much APR as they can
& I can’t wait to see how this unfolds…
And I think it unfolds nicely for Archi , because they are going to allow GM liquidity providers
on GMX to leverage their positions, for even higher APRs…
Well viewers, let me know your thoughts on GMX and Archi down in the comments…and don’t
forget to subscribe, follow me on all of my socials, @ChicoCrypto & @LeaksBlockchain on
twitter, @ChicoCrypto on Instagram & join the chat on telegram t.me/chicocrypto…because
I get in there, so drop in & say hi….Cheers I’ll see you next time!!