GMGN launches public beta for perpetual trading product

GMGN, the multi-chain trading terminal best known for helping degens snipe memecoins across Solana and Ethereum, is making its first serious play at derivatives. The platform launched a public beta for perpetual contracts trading on September 21, with co-founder Haze announcing the rollout and inviting users to stress-test the feature via Telegram groups. What the beta actually includes The initial offering is relatively focused. The beta currently features the SOL/USDC trading pair, served up through a standard interface with charts, order books, and positions management. Rather than bootstrapping its own liquidity pools, GMGN is sourcing liquidity from third-party providers. The fee structure undercuts many established competitors. Takers pay 0.045% per trade, while makers pay 0.015%. For context, GMGN’s spot trading fees have historically sat at 1%, so the derivatives product is priced to attract volume rather than maximize per-trade revenue. There’s also a yield component. Account balances on the platform will earn a 3.5% annualized return, a feature that doubles as both a user retention tool and a reason for traders to keep capital parked on the platform between trades. From m...