We briefly discuss below the advantages and disadvantages of the GMX protocol for three types of users: users of exchange assets, liquidity providers, and speculative traders. What are the advantages and disadvantages?
When the market kicks off again, we are destined to see a massive influx of retail traders which will lead to a gargantuan increase in volume. This will translate to a surge in $GMX and rewards paid out to liquidity providers on the platform.
EsGMX can also be vested over a one year period to yield regular GMX tokens. What makes this mechanism effective is that when esGMX is selected to be vested, the amount of GMX or GLP that was used to earn the esGMX is reserved.
Moreover, GMX has its own utility and governance token, which accrues 30% of the platform’s generated fees. By utilizing Chainlink Oracles to aggregate price feeds from high-volume exchanges, GMX ensures accurate and reliable pricing information.
Since GLP stakers bear the risk of trades on the platform, 70% of platform fees are distributed to liquidity providers and the remaining 30% is given to GMX stakers.
A: Purchasing GMX tokens is simple if you follow this detailed guide. Ensure you have a compatible wallet and follow the steps below to get started with GMX tokens.
This copyright is not just a digital asset; it's a comprehensive ecosystem that brings a new level of convenience and functionality to its users.
In 2021, there were roughly USD $57T perpetual swaps traded, almost a 6x increase from the previous year.
The tokenomics is as follows: 6M GMX website allocated for XVIX and Gambit migration; 2M GMX paired with ETH for liquidity on Uniswap; 2M GMX set aside for vesting from Escrowed GMX rewards; 2M GMX tokens to the floor price fund; 1M GMX tokens designated for marketing, collaborations and community developers; 250K GMX tokens distributed to the team linearly over a 2-year period.
This level provides full access to futures trading and up to 150x leverage without any restrictions, making it ideal for traders who prioritize both privacy and high leverage.
BloFin also allows users to buy cryptocurrencies directly with fiat through debit or credit cards, adding convenience that’s rare among non-KYC exchanges.
Image Credit: GMX Having a vast amount of the circulating supply staked associates with lesser panic and unnecessary selling in the market. This is evident as GMX is currently trading at only 54% off its ATH as compared to the rest of the market which has plummeted an average of 80% from their ATH.
For traders in regions with strict regulations like the USA, UK and China, finding copyright futures exchanges that don’t require identity verification is crucial.
GMX is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility.