esGMX
Last updated
Last updated
The esGMX market is the first implementation of Exit Tech platform, offering a solution for users with locked esGMX positions. Exit Market provides a fair and transparent way for exitors to unlock liquidity from their esGMX holdings, while rewarding stakers who provide liquidity with boosted yields.
The esGMX market creates a fair and efficient liquidity solution:
Exitors can exit their esGMX positions while retaining rewards.
Stakers (GMX or GLP holders) can stake to support these exits and earn additional yield.
Exitors are users looking to unlock liquidity from their locked esGMX positions without forfeiting their rewards. To facilitate exits:
Depositing esGMX: Exitors deposit their esGMX into Exit staking pools by using the GMX Accounts Transfer function, initiating the vesting process.
Incentivizing Stakers: Exitors allocate a portion of their esGMX as incentives to attract GMX and GLP stakers. This ensures liquidity flows into the pools to support their exits.
Retaining Rewards: Exitors earn their vested esGMX throughout the 12-month vesting period.
By design, exitors retain access to their rewards while gaining liquidity, creating flexibility without sacrificing future earnings. GMX Account Transferring is facilitated via a function on the GMX Rewards router contract. Calling this function will transfer all staked GMX assets plus your esGMX to the designated address, in this case your Vesting Pool. This will not affect unstaked GMX Assets and those who initiate the function with staked assets will automatically have them returned upon Pool creation by Exit Tech in the unstaked form.
Stakers are GMX and GLP holders who provide liquidity to support the exits of esGMX holders. By participating in Exit Tech, stakers earn additional rewards on top of their base yields:
Staking in Dedicated Pools: Stakers deposit their GMX or GLP into dedicated staking pools. Assets are locked until the vaults unlock date. This date is visible on the UI. The lock date is determined as one year after the first staker deposit into the vault. Both GMX and GLP sides have independent unlock dates.
Boosted Yields: Stakers earn their usual base yields (e.g., ~10% APR for GMX staked on GMX) alongside boosted $GMX incentives. These additional rewards come from the esGMX incentives allocated by exitors.
Claiming Rewards: Stakers can claim their boosted $GMX incentives and native yields at any time. This dual-yield structure rewards participation while supporting the overall liquidity flow.
The esGMX market enables stakers to optimize their yield strategy by turning exits into additional earning opportunities.
The esGMX incentives allocated by exitors are distributed to stakers in addition to their regular GMX or GLP yields.
Incentives are distributed proportionally based on the staker’s share of liquidity in the pool.
