xhir 🫐

🐂

@Uryftw esto me ha pasado con gpt y grok desde sus primeras versiones también lleva años ocurriendo

So I was just using Claude Code on my VPS asking for a n8n API key and all of a sudden it just went completely insane. Here are some screenshots. The response is as lengthy as you can ever imagine and it keeps getting darker WTF. Also I think I was lookint at... some other user's questions? @AnthropicAI What on Earth happened here?

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LOL, he just re-shorted almost $100M on GMX. app.gmx.io/#/accounts/0x7…

$GMX just released the new @chaoslabs risk oracles allowing for a more optimized way to raise available liquidity, with more optimizations coming soon Finally GMX as an AMM based perp dex will be scaling harder, and harder. $BTC now has $112M long and $116M short liquidity.

@KrITIK4L seems like Elmo lo remontó easy x.com/kobeissiletter…

@KrITIK4L up kek x.com/elonmusk/statu…

Tranquilos, Elmo remonta esto easy

A major upgrade to the GMX dApp is now live: 🔹The interface has been fully revamped with new styles, including updated colors, and improved readability and usability 🔹The navigation menu has been streamlined 🔹A new 'Light Theme' mode is available 🔹All GMX V1 items were relocated to a dedicated interface, which can be accessed via the footer of the dApp 1/2 👇

@TheWhiteWhaleHL @SniperMonke01 @ImmieV @GMX_IO glp is v1, which is no longer available. v2 mechanics are different. eg, there's $70m oi on each side for btc/usd right now. pool exposure is close to zero. one side's pnl offsets the other's. funding fees and positive price impact help balance. similar mechanics to a clob.

That only holds if the AMM is acting as a pure venue between traders — but GMX isn’t. The GLP pool is literally the counterparty to every trade. If I long and win, the pool pays me. If I short and win, the pool pays me. There’s no internal trader-to-trader offset. That’s why GLP holders bleed when traders get it right — it’s not some zero-sum game between longs and shorts, it’s trader vs. pool.

I made a mistake, and I learned from it. Many have you have asked me how I was doing after the bloodbath of the last 24 hours. I appreciate your concern, sincerely. When I started the US trading hours today I knew I had to move some money around. I had roughly 5M in stable coins in my primary CEX which I went to go withdraw so I could put them in HyperLiquid. If I had been able to do that, all would have been fine. But for the first time, in my multiple year history with this CEX, they put a security delay on my transaction. That’s not suppose to happen to me. The arrangement I have with the CEX is if I withdraw from the CEX using my hardware security key I should be able to bypass the security delay mechanisms unless of course I’m doing something crazy like sending to a wallet I’ve never sent to before. And yet for some reason my withdrawals weren’t processing. Faced with my dry powder not able to show up to the rescue I looked at my account. I had two very large green positions (one ETH long with a 2900 entry and my beloved SOL long with a 151 entry). I had to make the hard decision of which to sacrifice. I wanted to kill the ETH, to free up capital to move to other sub accounts to protect the other positions from liquidation risk. But I’m examine maintenance margin requirements, how much and quickly SOL was dropping, I knew what I had to do. I also considered that between my various SOL long positions that I was personally controlling around 17% of all OI on SOL (never intentional I’m just that convicted on where SOL is going). Owning that high % of OI as a single person does invite all sorts of funny business in the market. It can cause all sorts of unintended consequences which I’ve already been observing happening. So, in order to save positions in my other accounts, I very sadly killed my original (but not all) SOL long position. I still have others, just not with great entry points and they are currently red. Because I didn’t want to add to the bloodshed I did it little by little, letting the market absorb my exit, so that I didn’t become the reason $160 didn’t hold. It was painful. I lost a great entry on a great position and lost 10s of millions in future upside potential. But logistically it was the only play to make, with my stables being held in security review. I won’t name the CEX because one of my concierge reps figured out (too late for me sadly) that it was a tech glitch and gave me a work around hack so we didn’t have to wait for system engineers. That hack worked and I’m incredibly thankful to my rep for being smarter than customer service was and helping me through this. Now, I could sit here and blame the CEX and not take any responsibility but I played a part too. True, if my stables had moved when I wanted them not only could I have kept everything open but I could have gotten some sweet DCA action too. But I was over extended. I had too many positions open in too many sub accounts at once. I’ve always told you guys that I set up my accounts to weather black swan events. And that’s true. But the last two weeks have been one event after another. The ancient whale unloading 80,000 BTC FED coming out hawkish, making people question the Sept rate cut that everyone had already been pricing in Trump starting new trade war escalation, catching everyone off guard Trump sending “nuclear wessles” because of posturing And more The market makers and apex predators of this world used these headlines as cover for what was likely to happen anyway. And every event slowly chipped away at my defensive barriers. Because I was overextended. That’s on me. So while on one hand I just watched close to 20M of future profits disappear because I had to kill a really sweet position… I didn’t get liquidated I learned some valuable lessons I actually secured a little bit of profit today But most importantly, I live to fight another day.

@TheWhiteWhaleHL @SniperMonke01 @ImmieV @GMX_IO no, if traders win the pool is not affected as long as the oi is balanced, which is usually the case. your winning pnl comes from the losing pnl of other traders taking the opposite side.

I stand corrected on that point then. My reply applies to AMM style perps in general. Make your counter point tho - what’s the advantage of counterpart being a pool vs other traders with an order book. I’ll oversimplify one of my points…if the traders win, the pool loses. Pool can never be allowed to lose or who’s gonna deposit to pool? It’s a “the house always wins” structure.

7/ Projects like @yearnfi and @GMX_IO are making DeFi more accessible. Yearn pioneered yield aggregation, automating strategies across protocols, while GMX brings leveraged trading onchain.

To clarify on the audits, the full code base including the final version of the PositionManager and ShortsTracker contracts were audited by @GuardianAudits in Nov 2023 As GMX V2 was already live then and the plans were to gradually sunset V1, these audit findings were not published No critical issues were found during this audit, so unfortunately this particular issue was not uncovered Regardless of this we continue to vouch for the work done by @GuardianAudits, they have caught numerous other issues, ensuring that things continued running smoothly, when this V1 incident occurred they provided their full support in checking the issue and verifying the follow up steps Even really good auditors can miss things at times, and Guardian has continued to increase in strength and quality since this audit 2 years ago This incident is a timely reminder for us, more layers of security are needed and we will continue working on that to increase the safety of the GMX protocol

Posting this message in hopes of connecting with the individual responsible for the GMX V1 exploit. You've successfully executed the exploit; your abilities in doing so are evident to anyone looking into the exploit transactions. The white-hat bug bounty of $5 million continues to be available. It's likely already clear to you that the decision between accepting this bounty and keeping the exploited funds is the difference between being able to spend the funds freely versus taking additional risks to access them. We would like to reiterate that the option of the white-hat bug bounty would lead to an outcome where this $5 million can be freely spent right now. We can assist with providing proof of source of funds if that is ever needed. If we can come to an agreement on this, the $5 million would be legitimately categorised as a white hat bounty. GLP users would be made whole, with the $5 million difference covered by the Treasury's allocated bug bounty funds, so there would be no basis for any further action. Please contact us: Email: security@gmx.io On-chain: (GMX Deployer: 0x5F799f365Fa8A2B60ac0429C48B153cA5a6f0Cf8) Immunefi: (immunefi.com/bug-bounty/gmx…)

The GLP pool of GMX V1 on Arbitrum has experienced an exploit. Approximately $40M in tokens has been transferred from the GLP pool to an unknown wallet. Security has always been a core priority for GMX, with the GMX smart contracts undergoing numerous audits from top security specialists. So, in this hands-on-deck moment, all core contributors are investigating how the manipulation occurred, and what vulnerability may have enabled it. Our security partners are also deeply involved, to ensure we gain a thorough understanding of the events that occurred and minimise any associated risks as quickly as possible. Our primary focus is on recovery and pinpointing the root cause of the issue. Actions taken: Trading on GMX V1, and the minting and redeeming of GLP, have been disabled on both Arbitrum and Avalanche to prevent any further attack vectors and protect users from additional negative impacts. Scope of the vulnerability: Please note that the exploit does not affect GMX V2, its markets, or liquidity pools, nor the GMX token itself. Based on the available information, the vulnerability is limited to GMX V1 and its GLP pool. As soon as we have more complete and validated information, a detailed incident report will follow.

Day 2: Multicoin Collateral on $GMX Directionally bet while you directionally bet

Onchain businesses exist with revenue but low multiples - GMX is $70m revenue run rate and trades for 2.1x MC / Rev - Trades below median comp set of 5.7x. cc @GMX_IO

GLV: [USDC] is live. Provide liquidity with USDC, earn trading fees from multiple markets, and enjoy a smooth experience enabled by OI balance.

🔹 24h Volume: $1.01 Billion. Thank you to the hundreds of thousands of GMX users who continue to support permissionless onchain trading.

New staking epoch just started and we’re looking at 58% APR for the next 7 days. What could be better than that i hear you asking, how about doubling that to 116% APR in next week’s epoch? Best part? It’s all 100% farm fresh organic🫐 $GMX

Additional context regarding the impact of the enormous position that was liquidated on GMX, for those interested in understanding it better: 🔸 A very large whale on the Avalanche blockchain has been trading on @GMX_IO 🔸 He held a $15,5 million Long position on $BTC for well over a year 🔸 Because of the very volatile global markets and the BTC price tumbling over the last few days, his position was ultimately liquidated 🔸 This single trade generated over $13 million in fees for the GMX protocol 🔸 Of that $13 million, 30% will be used to buy back GMX tokens from the market, which will then be distributed to $GMX stakers on both Arbitrum and Avalanche 🔸 This represents a huge $4 million ‘TWAP’ buy on the GMX token, which currently has a market cap of $110 million. That buyback is starting slowly and will take quite a while to complete 🔸The accrued protocol fees will begin to be distributed to GMX stakers on Wednesday Adding a few screenshots to illustrate the position and its impact: