**GMX Rolls Out $44M Rescue Plan: Here's What Arbitrum GLP Holders Need to Know**

GMX has officially unveiled its compensation mechanism for V1 vulnerability victims, with a total allocation of $44 million directed to impacted Arbitrum GLP liquidity providers. This represents a comprehensive effort to make users whole following the incident that resulted in approximately $40 million in stolen funds.

**How to Claim Your Compensation**

The claims process is straightforward through the GMX dApp. Eligible liquidity providers will receive newly issued GLV tokens—specifically GLV [BTC-USDC] and GLV [WETH-USDC]—which mirror the asset composition of the original GLP. The transition to GLV tokens essentially preserves your portfolio structure while facilitating the migration to the new framework.

**Additional Incentives for Long-Term Holders**

There's an extra layer of encouragement for patient users: those who lock their GLV tokens for a minimum of 3 months will qualify for a $500,000 USD retention bonus provided by the GMX DAO. This mechanism is designed to stabilize liquidity and reward community members who remain committed through the transition period.

**V2 Operating Without Disruption**

While V1 faced significant challenges requiring emergency action, GMX V2 continues operating normally and is currently processing billions of USD in weekly trading volume. The protocol has suspended V1 transactions alongside GLP minting and redemption functions to prevent further exposure during the compensation rollout.

The comprehensive $44 million allocation underscores GMX's commitment to protecting user capital and maintaining protocol integrity across its ecosystem.