{"id":581423,"date":"2023-03-21T13:19:45","date_gmt":"2023-03-21T13:19:45","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=581423"},"modified":"2023-03-21T13:19:58","modified_gmt":"2023-03-21T13:19:58","slug":"gmx-launch-coinbases-l2-base-blockchain","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/gmx-launch-coinbases-l2-base-blockchain\/","title":{"rendered":"Perp DEX GMX Considers \u201cEarly Mover\u201d Launch On Coinbase\u2019s L2 Base Blockchain"},"content":{"rendered":"\n
Summary:<\/p>\n\n\n\n
Community members of decentralized exchange (DEX) GMX echoed<\/a> support for a proposal to deploy the protocol on the Base blockchain, a layer 2 decentralized network recently launched by major crypto exchange Coinbase. <\/p>\n\n\n\n The GMX governance proposal published by a community member suggested seizing the “early mover advantage” to tap a strong capital flow, expanded liquidity, and access a broader user base by deploying on Coinbase’s Base blockchain. <\/p>\n\n\n\n Due to the expected high capital inflow to BASE, it is expected to offer a beneficial ecosystem both for a GLP-type product, as well as GMX synths… Since GMX is already an established brand name and made very good experiences with being an early adopter of an uprising ecosystem, an early mover advantage is not to be underestimated, especially, in attracting sufficient liquidity for the GLP \/ synth vaults.<\/p><\/blockquote>\n\n\n\n Indeed, Coinbase’s over 110 million verified users and $145 billion in quarterly trading volume could filter into activity on GMX should the DEX deploy on Base. Currently, the derivatives exchange is the largest DeFi protocol on Ethereum L2 scaling ecosystem Arbitrum<\/a> with around $580 million in total value locked. <\/p>\n\n\n\nThe Proposal <\/h2>\n\n\n\n