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TheStandard.io Partners with GMX to Open New Doors for Token Holders

source-logo  blockchainreporter.net 27 March 2024 13:27, UTC

TheStandard.io, the next-gen decentralized, over-collateralized stablecoin protocol, is thrilled to announce its partnership with GMX. As per the announcement made on X, this alliance opens up new opportunities for token holders within the ecosystem. This collaboration brings GMX tokens into TheStandard.io’s smart vaults. In addition to this, it offers users innovative financial solutions by empowering them with greater control over their assets.

https://t.co/xdprycBt76 is thrilled to announce our latest partnership with @GMX_IO!

Introducing GMX token as our newest collateral type to our smart vaults, unlocking endless possibilities for token holders.

Get started: https://t.co/cROAhKvE1R

For more info on the… pic.twitter.com/YdMTR9HLRw

— TheStandard.io (@thestandard_io) March 27, 2024

GMX Token Holders to Explore New Opportunities with EURO Creation

This connection allows GMX token holders to use their assets as collateral in smart vaults. By doing this, they can use their assets as collateral without interest and create EUROs. Moreover, this unique feature gives users financial freedom. Additionally, it allows them to borrow money without paying the high fees of traditional lending platforms. TheStandard.io and GMX eliminate loan interest. Furthermore, it allows users to optimize their assets without high expenditures.

On the other hand, GMX holders who create EUROs can use their new assets in multiple liquidity pools. For example, users can contribute liquidity to Ramses Exchange or TheStandard.io’s Liquidation Pools to gain more rewards and passive revenue.

As a result, this functionality increases the value of the GMX token and gives users several ways to maximize profits. TheStandard.io’s intelligent vaults now accept GMX tokens, expanding users’ collateral options. In addition to WBTC, ETH, ARB, LINK, and PAXG, GMX offers another loan protection option.

GMX Liquidity Soars on Arbitrum to Boost TheStandard.io’s Ecosystem

GMX is collateral in TheStandard.io’s smart vaults, which allow everlasting cryptocurrency futures trading with 50X leverage on BTC and ETH. In addition to this, GMX is a governance token that gives holders a share of V1 and V2 market fees. The dual functionality pushes users to actively participate in the GMX ecosystem.

Particularly on Arbitrum, GMX has exceptional liquidity. GMX is highly liquid with a $543 million trading volume and a $192 billion total volume. This increased liquidity benefits TheStandard.io by increasing trading volumes and the user base. Additionally, it improves the GMX token’s functioning by offering more ecosystem prospects.

Lastly, TheStandard.io and GMX’s collaboration advances DeFi. Along with that, TheStandard.io’s intelligent vaults leverage GMX tokens to improve asset management. Further, it provides cutting-edge financial solutions and adaptability. Given GMX’s liquidity and versatility, both platforms will profit from its involvement.