BNB

GMX Has Proposal to Deploy on BNB Chain

Kyle Heise

January 6, 2023

MINS

Kyle Heise

BNB

GMX users have a chance to work with BNB Chain and receive support for deployment on the most active blockchain around.

GMX Proposal for BNB Chain

A BNB Chain supporter submitted a proposal to the GMX governance platform to deploy GMX on BNB Chain.

The proposal, submitted by the account AdamBNB on January 5, goes through the technical background of BNB Chain as it pertains to supporting GMX and gives an extended rationale explanation supporting the decision. AdamBNB cites familiar characteristics like BNB Chain’s massive user base and the ability to synthesize on products like decentralized derivatives and perpetuals.

“We also believe that in these uncertain times, the resilience shown by BNBChain can be beneficial for the GMX community, not only because of the trust that users have shown by organically growing the BNBChain TVL market share in recent months, but also to diversify any type of dependency risk,” writes AdamBNB.

The proposal explains how it foresees several ways for the projects to link up, stating that “possible synergies or areas of collaboration are quite wide.” Along with technical and expert collaboration, AdamBNB sees promotional exposure possible and plus much more.

Alvin Kan, BNB Chain Growth Operations Director, threw his support for the matter on Twitter, saying it appears like a “win-win.”

This will be a great win-win situation - proposal to deploy GMX on BNB Chain.https://t.co/WU0rC0FHJc
— Alvin Kan (@alvin_kan) January 6, 2023

So far, the responses to the proposal have been mixed. Several accounts have cited recent exploits on BNB Chain as a red flag for security concerns, and others have questioned the purported decentralization of BNB Chain compared to Arbitrum and Avalanche.

What is BNB Chain:

Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.

Find more about BNB Chain here:

What is GMX:

GMX is a decentralized permissionless exchange launched in September 2021 on Arbitrum, a layer-2 solution for the Ethereum blockchain. It was deployed in January 2022 on Avalanche, an EVM-compatible blockchain capable of high speed in terms of transactions per second.

Where to find GMX:

Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.

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Disclaimer: The content of this piece is the opinion of the writer. Nothing in this article is intended to constitute financial advice. The content of this article is intended for entertainment and educational purposes only. Investing in cryptocurrency carries a high degree of risk. Capital is at risk, and returns are never guaranteed. You should always do your own research.

Disclaimer: Disclaimer: This article is written by a visiting author. Opinions herein are those of the visiting author. Nothing in this article is intended to constitute financial advice. The content of this article is intended for entertainment and educational purposes only. Investing in cryptocurrency carries a high degree of risk. Capital is at risk, and returns are never guaranteed. You should always do your own research.

Author

Kyle Heise

Born and raised in the East Bay of California. He has studied and worked on three continents and lived in seven countries. He holds bags mostly in ETH and stablecoins.

ETH

Ether Futures ETFs Hit the Market: ProShares, VanEck, and More Offer Options

Miracle Nwokwu

October 2, 2023

This marks the first-ever ETFs based on ether futures, following the introduction of the first bitcoin futures ETF two years ago.

Summary

A range of exchange-traded funds (ETFs) targeting the performance of ether futures have been launched.
These offerings mark the first-ever ETFs based on ether futures, coming almost two years after the introduction of the first bitcoin futures ETF.

In a significant development for the crypto industry, a range of exchange-traded funds (ETFs) targeting the performance of ether futures have been launched. These offerings mark the first-ever ETFs based on ether futures, coming almost two years after the introduction of the first bitcoin futures ETF.

Renowned for launching the first U.S. bitcoin futures ETF, ProShares leads the charge with the launch of the ProShares Ether Strategy ETF, along with two additional offerings that provide a blend of exposure to both bitcoin and ether. ProShares’ CEO, Michael L. Sapir, expressed optimism about the appeal of these crypto-linked ETFs to investors, stating, "We think that many investors who are interested in cryptocurrencies but are concerned about custody risks, or who are challenged by the learning curve and complexities required to buy them directly, will be attracted to our crypto-linked ETFs."

Bitwise also joined the fray with two ether futures ETFs: the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF.

VanEck, a prominent asset manager, has also entered the arena with the VanEck Ethereum Strategy ETF. This ETF is designed to target capital appreciation by investing in ether futures contracts, providing investors with an alternative path to participate in the robust futures market centered around Ethereum.

Additionally, the VanEck Ethereum Strategy ETF has also entered the market, “designed to seek capital appreciation” through ether futures contracts. As highlighted by Kyle DaCruz, Director of Digital Asset Product at VanEck, these offerings provide a means for investors to tap into the robust futures market surrounding Ethereum.

Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

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Author

Miracle Nwokwu

Miracle is a seasoned DeFi writer with over 6 years of experience in the industry. With a keen understanding of market trends, price movements, and trading patterns, Miracle has a passion for unraveling the complexities of the blockchain world. Miracle holds bags in BNB, MATIC, and other valuable cryptocurrencies.

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GMX Has Proposal to Deploy on BNB Chain

GMX Proposal for BNB Chain