GMX price is $26,94, վար -7.92% in the last 24 hours, and the live market cap is $254.733.168. It has circulating supply of 9,462,705 GMX coins and a max supply of 9,462,705 GMX alongside $25.742.895 24h trading volume.
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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What Is GMX
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:
Reduced Liquidation Risks
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:
~$150 million has been traded on GMX
~$300,000 in fees have been earned by the protocol, including Gambit fees
~$900,000 added to the floor price fund.
Today, GMX has a total trading volume of $45,110,523,486 and 47,923 active users.
GMX Coins
GMX uses a dual coin system, with two native protocol coins - GMX and GLP, serving two different functions.
GMX Coin
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 Token
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.
GMX Founders
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.
How Does GMX Work
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.
Where to Buy GMX Coin
You can buy the GMX token on the following cryptocurrency exchanges:
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