GMX (GMX) - OI Calculation Change - 22 December 2025
GMX will change how open interest is calculated, shifting from USD position value to notional position size, which directly affects funding, borrowing fees, and price impact on the perpetuals platform. As outlined in the GMX team’s post on X, this adjustment will realign fee flows with actual leverage usage rather than nominal dollar exposure. For GMX token holders, any change in trader behavior and volumes will flow through to protocol fee generation, which underpins staking yields. If the new mechanism improves market efficiency and attracts more leveraged activity, it could support higher fee revenue and, indirectly, GMX valuation; if it discourages large positions, the opposite may occur.