WHY SNX HAS SURPASSED GMX IN VOLUME

Summary from the TLDR Crypto newsletter

Synthetix has surpassed GMX in trading volume, driven by several key factors. It lowered trading fees to as low as 0.02% for certain pairs, significantly increasing trade volume. Additionally, an airdrop program incentivizes traders with $OP tokens that essentially outpace the trading fees they incur on the protocol. Increased decentralization, with trades settled by incentivized keepers and the use of Pyth Network as a primary oracle, has given it greater trust and uptime. Further, decentralizing frontends has increased Synthetix's censorship resistance.