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The community of GMX favors the protocol’s deployment on a layer 2 blockchain Base, which Coinbase (COIN), a cryptocurrency exchange, just announced. The GMX community has spoken in favor of implementing the protocol on Coinbase’s (COIN) recently announced layer 2 blockchain, BASE. GMX provides spot and Some community members of the decentralized crypto exchange backed the early mover proposal to deploy GMX on Coinbase’s L2 blockchain. Concerns were raised With the launch of BASE, Coinbase wants to accelerate the development of Coinbase´s onchain products, bring Coinbase´s customers into the cryptoeconomy and GMX, a popular derivatives trading platform, has submitted a proposal to deploy on Base, a layer 2 network from crypto exchange Coinbase. According to the proposal According to reports, Decentralized Derivatives Exchange GMX has proposed to deploy its protocol on Coinbase’s newly launched platform Base. The proposal We are proposing an upgrade to our platform: the deployment of GMX V2 on BASE. Alongside this, we would love to have COIN stock listed to diversify our offerings and

Is GMX Exchange Moving to Coinbase\'s Base Blockchain? Here\'s What We Know.

The decentralized finance (DeFi) world is buzzing with speculation: Is GMX, the popular decentralized derivatives exchange, considering a move to Coinbase\'s newly launched layer 2 (L2) blockchain, Base? According to reports, Decentralized Derivatives Exchange GMX has proposed to deploy its protocol on Coinbase’s newly launched platform Base. The proposal has sparked significant discussion within both the GMX and Coinbase communities.

Why Base? The GMX Community Speaks Out

The community of GMX favors the protocol’s deployment on a layer 2 blockchain Base, which Coinbase (COIN), a cryptocurrency exchange, just announced. The GMX community has spoken in favor of implementing the protocol on Coinbase’s (COIN) recently announced layer 2 blockchain, BASE. Some community members of the decentralized crypto exchange backed the early mover proposal to deploy GMX on Coinbase’s L2 blockchain. This interest stems from several potential benefits, including lower transaction fees and faster processing speeds offered by L2 solutions like Base. GMX provides spot and perpetual trading for a variety of crypto assets. A move to Base could significantly enhance the user experience.

GMX V2 on BASE: The Proposal Details

GMX, a popular derivatives trading platform, has submitted a proposal to deploy on Base, a layer 2 network from crypto exchange Coinbase. According to the proposal, this move involves an upgrade to their platform: "We are proposing an upgrade to our platform: the deployment of GMX V2 on BASE." This suggests that GMX is not just considering a simple port, but a significant evolution of its platform utilizing the capabilities of Base.

Coinbase\'s Vision for BASE and its Impact on GMX

With the launch of BASE, Coinbase wants to accelerate the development of Coinbase´s onchain products, bring Coinbase´s customers into the cryptoeconomy. By deploying on Base, GMX could potentially tap into Coinbase\'s vast user base and ecosystem, further expanding its reach and liquidity. The integration could also lead to innovative new features and collaborations between GMX and Coinbase.

Potential Concerns and What\'s Next

While the potential benefits are compelling, Concerns were raised during the discussions. These concerns often revolve around centralization risks associated with L2 solutions tied to major centralized exchanges. The decision ultimately rests with the GMX governance and community. Keep checking back for updates as the proposal progresses and the GMX community makes its decision. According to the proposal, the move to BASE is being carefully considered.

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