Express transactions, and a revamped One-Click trading experience are on the horizon for $GMX
Curious about what it means for traders like you?
Then keep reading! 🧵
One of the most common complaints about users trading on on-chain leverage platforms is that during congestion times RPC might mess up your UX on the trading platform resulting in transactions not going through or getting processed.
Express transactions on GMX enable on-chain trading without using direct RPC for transaction sending.
Instead, a Keeper network like Gelato is used: you sign an on-chain message, which is then checked and confirmed on-chain by the keeper network.
Express transactions allow you to choose which gas token to use for payment.
In the first release USDC/WETH on Arbitrum, USDC/WAVAX on Avalanche, will be available for paying gas.
So users can now pay with USDC/WETH/WAVAX to pay for their transaction rather than ETH/AVAX.
But that's not all.
This Express functionality can be used alongside a revamped 1CT (One-Click Trading), essentially eliminating the need to sign any messages, but inheriting the benefits (no RPC issues and defining your own token to pay for your gas)
The previous 1CT (One-Click Trading) experience on $GMX was quite complex, requiring ETH for gas.
Now, this is no longer necessary.
1. Enable Express and 1CT in the settings.
2. Sign one message.
And you can start trading, no need to top-up accounts anymore.
To enhance security, you can set a time or actions limit for your One-Click trading session.
For instance, you might configure it to expire after 20 trades or after 7 days, depending on what you consider reasonable.
So using Express combined with the revamped 1CT experience, will essentially improve UX quite drastically for anyone who has experienced RPC issues in the past and had issues trading to trade during network congestions.
I will post another thread diving more practically into Express and 1CT whenever it's live on $GMX.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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