Important Update on GMX V1 Fund
We are writing to inform investors of upcoming changes to our GMX V1 fund on Solv. As the GMX protocol continues to develop, we have made the decision to transition focus from V1 to V2 based funds.
GMX V2 offers traders several key advantages over V1 like lower fees and larger position sizes. This improved user experience has driven rapid growth on V2. Additionally, GMX has received grants through Arbitrum’s STIP program to incentivize liquidity on V2.
Solv has already launched multiple successful funds on GMX V2 with over $25M total managed assets, making us one of the largest liquidity providers. Under active management, these funds have achieved APYs as high as 27.07% while maintaining safety of principal.
As a result, Solv will be closing the GMX V1 funds in one month’s time and expanding support for V2. ETH and wBTC pools on GMX V2 will soon be launching on Solv as well.
For current GMX V1 fund investors, we will increase weekly redemption processing to once a week for the next month. You can also instantly redeem shares through the Lending Pool on Pine with a 1% fee.
On December 21th, GMX V1 fund operations will conclude. Any unredeemed assets will automatically settle to USDC and transfer to your address.
While this transition may cause some inconvenience, we believe the GMX V2 funds and more will deliver a superior user experience. Solv remains committed to building a safer, more efficient decentralized asset management platform. Please let us know if you have any other questions.
About Solv V3
Officially launched in 2023, Solv V3 has pioneered the construction of a trustless fund infrastructure based on ERC-3525. It also achieved decentralized collaboration between trusted institutions to offer transparent, non-custodial DeFi risk control. It allows global investors to access varied, trusted crypto investments on one transparent and secure platform, and empowers excellent fund managers to efficiently raise capital and build on-chain credibility.
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