GMX Multichain Unlocks GM Pools Across Every Major EVM, Real Yield Follows

GMX announced a progressive multichain rollout unlocking access from Binance Chain, Berachain, Ethereum mainnet, Sonic, Linea, ApeChain, and more. It exports the GM pool primitive: isolated per-market pools that replaced the old GLP shared pool in the 2023 V2 upgrade. GM pool LPs currently receive 63 percent of GMX protocol fee revenue, GMX stakers get 27, and the treasury gets the remaining 10.

Why GM pool architecture is the interesting export

Every previous perp DEX that shipped multichain shipped a token first and a product second. GMX is shipping the LP primitive that already works. GM pools isolate risk: an LP in the SOL market on a new chain does not carry the counterparty risk of the AVAX market on a different chain. That is a very different underwriting profile from GLP or HLP, and it lets each chain grow markets on its own risk budget instead of the whole protocol's shared exposure.

The competitive frame

Hyperliquid runs a single global order book with HLP as the aggregate market-making vault. That works when volume is huge and concentrated. GMX's bet is that per-market pools, exported across many EVM chains, capture LP mindshare from users who want isolated exposure to specific markets on specific chains. It is a coexistence bet, not a head-on fight. Real yield is the shared claim: both HLP and GM pools scale their APR with real volume, not incentives.

The portfolio angle

If you already LP a GMX GM pool, more chains means more market pairs and more chances to concentrate in the specific market you have a view on. If you hold GMX, the 27 percent staker share now scales against fee revenue from multiple chains instead of primarily Arbitrum. If you compare LP options, real-yield perps LP is one of the very few sources of DeFi yield backed by an actual operating business, alongside Hyperliquid HLP and Pendle YT strategies.

What Koinlytics tracks: your GM pool positions, GMX staking rewards, and cross-chain LP exposure so a multichain expansion turns into concrete yield line items instead of a vague upside.