Annualized yields on some popular major tokens have jumped to as high as 75% on the decentralized trading platform GMX as Arbitrum incentives went live on the platform earlier on Wednesday. GMX allows users to trade spot and perpetual futures for major tokens through an on-chain interface at low fees. It settled over $136 million in trades in the past 24 hours, data shows. Paired against the U.S. dollars, the XRP trading pools on GMX are rewarding users nearly 75%, while Solana's SOL and dogecoin (DOGE) pools are showing yields of up to 65%. Bitcoin (BTC) yields have popped to over 28% – the highest among DeFi platforms – while ether (ETH) yields have jumped to 19%, platform data shows.
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