GMTrade, formerly known as GMXSOL, launched on the Solana mainnet in March 2025 as a decentralized perpetual contract platform built by an independent team under the authorization of GMX DAO. The protocol features a multi-pool liquidity architecture, dynamic funding rates, and cross-market liquidity scheduling (GLV) to enhance capital efficiency and risk isolation. It supports trading of indices, stocks, commodities, and forex, in addition to crypto assets. As of the end of February, GMTrade's daily trading volume exceeded $200 million, with open interest surpassing $30 million and total value locked around $15 million, making it the third largest perpetual DEX on Solana.