Gate News message, April 14 — Decentralized perpetual exchange GMX has launched 24/7 gold and silver markets on Arbitrum, drawing more than $10 million in trading volume on the first day, the protocol announced on X.
The new XAU/USD and XAG/USD markets are synthetic perpetuals settled onchain using WETH-USDC liquidity. Pricing is secured through Chainlink Data Streams, the same oracle infrastructure that underpins GMX’s existing perp markets.
“We’re excited to see GMX adopt Chainlink to power its newly launched gold and silver perpetual markets,” said Johann Eid, Chief Business Officer at Chainlink Labs. “This is how we enter a new era where the world’s largest commodities are traded onchain at a massive scale.”
The launch comes as gold climbed above $4,800 per ounce on Tuesday, rebounding from prior losses as the U.S. and Iran signaled their willingness to resume ceasefire negotiations.
GMX said gold and silver represent the starting point for a broader push into real-world asset (RWA) derivatives, with additional commodities and asset classes under evaluation. Both pools are included in the protocol’s GLV [ETH-USDC] vault, allowing liquidity providers to earn fee revenue as demand scales. Traders on Base, BNB Chain, and Ethereum mainnet can also access the markets via GMX’s multichain infrastructure.
The move places GMX alongside a growing roster of DeFi protocols racing to bring traditional asset exposure onchain. Hyperliquid’s permissionless HIP-3 markets have seen commodity perpetuals, particularly oil, dominate trading activity in recent months. The broader tokenized commodities sector has expanded rapidly, with tokenized gold surpassing $4 billion in market value in January and now approaching $5 billion, led by Tether Gold and Paxos Gold.
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