GMX v1 incurs a $13 million fee to clear old BTC positions, part of which will be used to repurchase GMX"

Crypto 7x24

2025-04-07 18:19:30

On April 7, according to @SigmaSquared monitoring, the GMX v1 platform recently cleared an old BTC position, causing more than US$13 million in fees, including borrowing fees. It is reported that 30% of this fee will be used to repurchase GMX tokens. In addition, he mentioned that a $4 million TWAP (Time-Weighted Average Price Order) was being applied to tokens with a market value of $100 million.

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