GMX is a decentralized perpetual exchange that supports low swap fees and zero price impact trades, currently available on Arbitrum and Avalanche.
GMX is the native token of the project. The current use cases for GMX include:
The project consists of the following major components working in conjunction:
Spot & Perpetual DEX: Users can swap tokens and open long or short positions with up to 30x leverage.
Price Feeds: The PriceFeed contract accepts submissions from the price feed keeper. This keeper calculates prices using the median price of Binance, FTX and Bitfinex.
Escrowed GMX (esGMX): These reward tokens can be converted into GMX tokens through vesting.
GLP: GLP is the liquidity provider token of the platform, it can be minted using any of the tokens within the liquidity pool such as ETH, BTC and USDC.
Referrals: Affiliates referral program with tier system, referrers receive rebates for users they brought onto the platform.
As at October 6th 2022, the total token supply of GMX is 8,648,200. The current circulating supply is 7,990,696 (~92.4% of the total token supply).
Learn more about the token distribution of GMX here.