About GMX (GMX)
GMX is a decentralized perpetual exchange tailored for cryptocurrency futures trading. According to the protocol, it boasts minimal swap fees and zero price impact. It also offers traders the flexibility to leverage up to 50x on major cryptocurrencies like BTC, ETH, among others. GMX is operating on the Arbitrum and Avalanche blockchains. The integration is made possible through the cross-chain bridge called Synapse. This solution is enhancing the platform's connectivity and efficiency.
In contrast to traditional decentralized exchanges which use order books, GMX employs a different type of automated market maker (AMM) system. This system is backed by its native liquidity pool, GLP, which also serves to stabilize pricing through its integration with Chainlink oracles. Unlike typical liquidity pools, GLP users experience no impermanent loss and benefit directly from trading fees and leveraged trading outcomes, as per the protocol.
GMX is underpinned by using both Arbitrum and Avalanche networks. These blockchains enhance transaction efficiency and security. Arbitrum is leveraging Ethereum's layer-2 solutions for scalability, and Avalanche using a DAG-based consensus protocol for rapid transaction finality.
The GMX token serves as a utility and governance token. It enables staking, fee payments, and participation in DAO governance within the GMX decentralized exchange platform. The live price of GMX is updated and available in real time on Binance.