What is GMX?
GMX - The way for traders to trade at low cost and without arbitrage risk, in order to increase liquidity.
- GMX is a spot and decentralized exchange, backed by providers focused on the business market.
- The main idea of GMX is to attract traders who want to obtain low-cost trades.
- Its native token, GMX, gives users the ability to participate in government activities by being 'holders'.
GMX Key Metrics
Cap de Mercado
What is GMX?
GMX is a perpetual exchange project in the 'decentralized' category, which initially operated on the BSC (which in turn is the chain of BNB). After the success of Arbitrum's products, GMX changed its operations to Arbitrum, being one of the first perpetual contract exchanges within the network. This is how GMX gained many users and expanded into Avalanche.
The GMX exchange had the idea of providing traders with a set of tools for businesses thinking about short to medium term cash payments, as well as a source of savings. Its main features are costless savings transactions, no arbitrage and no financing fees.
When the GMX network was launched, it was promoted as a way for merchants to operate at low cost and without arbitrage risk, because it uses its own liquidity funds. In addition, it also promised high-speed transactions thanks to its alliances with Arbitrum and Avalanche.
Although the number of clients decreased after the Avalanche boom, GMX maintains a stable and rising user rate in the bear market period. Its competitors in the market may be DYDX, Perpetual or MCDEX, as they all have similar use cases.
The GMX Token
To give the network legitimacy to its new users, 6 months after the launch of its exchange it launched the token called GMX. Initially it had a total supply of 13 million tokens, but prior to commercialization, GMX was intended to give you the right to vote in government activities, where all GMX holders can influence network decisions.
After GMX and Avalanche boomed within crypto networks, the GMX token started trading on recognized exchanges such as TruBit Pro, due to the fact that it was among the few coins that did not lose much value during the 2022 bear market.
The token was launched using 3 advantages for purchase:
- Reduces liquidity risks: its value is maintained by the advantages of the Avalanche and Arbitrum networks.
- Lower costs: GMX will always have a stable value as there are no additional costs.
- Fast exchanges: GMX already has several trading pairs for fast exchanges without large transaction costs.