Voltz Launches Interest Rate Swap Market on GMX, Providing ETH Yield Without the Need to Stake it Through the GMX Liquidity Token GLP
Summary
Voltz Protocol, DeFis first synthetic interest rate swap (IRS) AMM, launches a GLP yield rate market on GMX, providing traders an opportunity to speculate on the yield GLP will generate, which are paid in ETH, without needing to own or stake GLP. And since the returns are paid in ETH it also opens the door to interesting ETH-based structured products for traders too.” The trading on GMX is facilitated by a multi-asset pool called GLP. Because GLP price is a proxy to traders directional views on many different assets, it presents the opportunity for traders to leverage the Voltz Interest Rate Swap protocol in order to hedge or speculate on future rates. Voltz is DeFis first synthetic interest rate swap AMM with more than $4.6B in notional trade volume. Voltz protocol puts the power of rate trading and liquidity into the hands of everyday traders and developers, ushering in a new era of composable, permissionless, and open-source financial products.