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About GMX token (GMX)

The GMX token is the native utility and governance token of the GMX decentralized exchange platform. It enables holders to participate in platform governance decisions, earn a share of the exchange's trading fees, and access liquidity provider incentives. GMX aims to offer a decentralized trading experience with features like low swap fees, no price impact trades, and multi-asset liquidity.

    GMX token Frequently Asked Questions (FAQ)

      What is the leverage limit available for trading on GMX?

      On GMX, users can trade with up to 30x leverage.

      What blockchains does GMX operate on?

      GMX operates on the Avalanche and Arbitrum blockchains.

      Can you name the founders of GMX?

      The founders of GMX (Global Message eXchange) are not publicly documented, as it is a product launched by the German company United Internet AG.

      What differentiates GMX from other decentralized exchanges?

      GMX stands out from other decentralized exchanges by offering spot and perpetual swap trading with low swap fees and no price impact trades. It combines an order book model with chainlink oracles for accurate pricing, and it utilizes a unique multi-asset pool for liquidity, allowing for efficient trading. Moreover, it offers high leverage, up to 50x, on perpetual trades, and earns liquidity providers passive income from market-making, swap fees, and leverage trading.

      What assets comprise the GLP multi-asset liquidity pool on GMX?

      The GLP multi-asset liquidity pool on GMX comprises a basket of various cryptocurrencies which can include stablecoins like USDC, and other popular assets such as BTC, ETH, and more, providing liquidity for the GMX trading platform.

      How do GLP token holders generate revenue on GMX?

      GLP token holders generate revenue on GMX by receiving a share of the platform's trading fees. When users trade with leverage or swap assets, the fees generated from these activities are distributed to GLP token holders proportionally to their share in the liquidity pool.

      Is there impermanent loss risk for GMX liquidity providers?

      No, GMX liquidity providers do not face impermanent loss risk. GMX utilizes a unique multi-asset pool which earns from market making and swap fees without the typical impermanent loss found in traditional AMMs.

      How is the GMX token used in the ecosystem?

      The GMX token is used within its ecosystem primarily for governance, allowing holders to vote on important protocol decisions. Additionally, it acts as an incentive mechanism, providing liquidity providers and traders with rewards. GMX holders can also stake their tokens to earn a share of the platform's generated fees.

      What is the security model of Arbitrum as it relates to GMX?

      The security model of Arbitrum, in relation to GMX, is built upon Arbitrum’s Layer 2 scaling solution for Ethereum, which uses Optimistic Rollup technology to enhance transaction efficiency and reduce costs. Transactions on GMX are recorded on the Arbitrum network, leveraging its fraud-proof mechanism where transactions are assumed to be valid unless challenged within a dispute window. This approach relies on a network of decentralized validators that help secure the protocol. Arbitrum's security is thus derived from Ethereum's base-layer security, and supports GMX in providing users with secure, decentralized trading and yield opportunities.

      Have the GMX contracts undergone security audits and is there a bug bounty program?

      Yes, the GMX contracts have been subjected to security audits by reputable firms to ensure their robustness and security. Additionally, GMX has a bug bounty program in place designed to reward ethical hackers and security researchers who report vulnerabilities, thereby contributing to the platform's security enhancements.