Why Avalanche protocols are not the only crucial elements to AVAX rejuvenation
Protocols under the Avalanche chain contributed to the TVL $800 million growth.
GMX price is $60,91, sube un 6.26% in the last 24 hours, and the live market cap is $513M. It has circulating supply volume of 8,425,335 GMX coins and a max. supply volume of 8,425,335 alongside $66M 24h trading volume.
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GMX is a decentralized spot and perpetual exchange to support low swapping fees and zero price impact trades.
GMX is the protocol's utility and governance token.
Check the GMX current price, 24 hour trading volume, live market cap, total supply, circulating supply, max. supply, GMX price chart, etc., and get updates on GMX price in real-time on CoinStats, one of the best crypto platforms around.
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GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. GMX enables users to trade BTC, ETH, AVAX, and other top cryptocurrencies with up to 30x leverage directly from their wallets.
Trading on the GMX ecosystem is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, leverage trading (spreads, funding fees, and liquidations), and asset rebalancing. Dynamic pricing is supported by Chainlink Oracles along with TWAP pricing from leading volume DEXs.
GMX provides users with three unique features:
The GMX aggregate of high-quality price feeds determines when liquidations occur. This keeps positions safe from temporary wicks.
2. Low Costs
GMX allows users to enter and exit positions with minimal spread and zero price impact and get the optimal price without incurring additional costs.
3. Simple Swap Feature
GMX users can open positions through a simple swap interface. This function lets users conveniently swap from any supported asset into the position of their choice.
In the first month of its launch, GMX recorded massive success amongst crypto users:
Today, GMX has a total trading volume of $45,110,523,486 and 47,923 active users.
GMX uses a dual coin system, with two native protocol coins - GMX and GLP, serving two different functions.
GMX is the protocol's utility and governance token. It accrues 30% of the platform’s generated fees. Holding GMX tokens unlocks such rewards as Revenue sharing, GMX tokens in Escrow, and Multiplier points.
According to its whitepaper, the GMX token can be bridged between Ethereum and Arbitrum.
GLP is the protocol's liquidity provider token. It accrues 70% of the platform’s generated fees. GLP is a basket of assets used for trading and leverage trading. The price for minting and redemption is calculated based on the total value of the assets in the index. This includes profit and loss on open positions divided by the LPG Supply.
There is very little information about the team behind GMX. The project could be led by a certain Gambit Financial, a spot and perpetual exchange on Binance Smart Chain.
GMX works on the Arbitrium and Avalanche blockchains, well known for their low gas fees and high transaction speed.
GMX functions by providing users with a liquidity pool that supports low swap fees and zero-impact trades.
You can buy the GMX token on the following cryptocurrency exchanges:
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