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What is GMX (GMX)?

GMX basic info

Name:GMX

Ticker:

GMXBuy now

Introduction:

What is GMX?

GMX is a decentralized exchange that specializes in spot and perpetual trading of cryptocurrencies. Launched in September 2021 as the first iteration of the Gambit protocol, GMX has quickly gained traction for its innovative features, including low swap fees, up to 50x leverage, and zero price impact trades. The platform operates primarily on the Arbitrum Layer 2 protocol and the Avalanche blockchain, offering a seamless trading experience with reduced transaction costs.

The exchange distinguishes itself with a unique multi-asset liquidity model, a modification of the traditional Automated Market Maker (AMM) setup. GMX uses Chainlink oracles to source dynamic pricing information from various exchanges, ensuring accurate and timely data.

Resources

Official Document: https://docs.gmx.io/docs/intro/

Official Website: https://gmx.io

How Does GMX Work?

At the core of GMX's functionality is a community-operated 'unionized' liquidity pool known as the GLP pool. This pool serves both spot and perpetual contract trading. Users can contribute single assets to the GLP pool, which is then used by the Automated Market Maker (AMM) for spot trading and by the leverage trading algorithm for loan requests. Traders can borrow up to 30 times the value of their collateral from the GLP pool, enabling high-leverage trades.

GMX charges a trading fee of 0.1% of the position size to open a trade and a "borrow fee" that varies depending on the asset's utilization. The platform's fee structure is designed to benefit both GMX and GLP token holders, with 30% of the fees going to GMX stakers and 70% to GLP holders.

What is GMX Token (GMX)?

The GMX token serves multiple purposes within the GMX ecosystem. Primarily, it is used for governance, allowing token holders to vote on various proposals related to the platform's operations. The token can also be staked to earn three types of rewards: Escrowed GMX (esGMX), Multiplier Points, and standard rewards in ETH or AVAX, depending on the network.

Which Factors Affect GMX Token (GMX) Price?

The price of the GMX token is influenced by several factors, including market sentiment, trading volumes, and the overall performance of the crypto market. The token's utility within the GMX ecosystem, such as governance and staking rewards, also plays a role in its valuation. Additionally, the platform's innovative features and liquidity model have garnered investor interest, contributing to price movements. The GMX token has shown resilience even during market downturns, making it a subject of optimism among traders and investors.

GMX’s Impact on Finance

GMX is making waves in the financial world by offering a decentralized platform for spot and perpetual trading with high leverage options. Its unique liquidity model and community-driven approach set it apart from traditional financial systems and even other DeFi platforms. By operating on Layer 2 solutions like Arbitrum and Avalanche, GMX is also addressing some of the scalability and cost issues that plague Ethereum-based DeFi projects.

GMX opens up opportunities for passive income through staking and liquidity provision, making it attractive for long-term investors. Its governance model ensures that the community has a say in the platform's future, aligning it with the ethos of decentralization.

Conclusion

In conclusion, GMX is a key player in the DeFi space, offering innovative features like low fees and high leverage. Operating on advanced blockchain technologies, it provides a cost-effective and scalable trading experience. With its unique liquidity model and community-driven governance, GMX stands out as a disruptive force in both traditional and decentralized financial markets.

Current price:

$29.92More price details

All-time high:$217.32

All-time low:$0.00

GMX supply and tokenomics

Circulating supply:9,832,541 GMX

Total supply:9,832,540.82 GMX

Max supply:0 GMX

Market cap:$294.19M

Fully diluted market cap:$294.19M

Token allocation:

XVIX and Gambit migration

45.29%

Paired with ETH for liquidity on Uniswap

15.10%

Vesting from Escrowed GMX rewards

15.10%

managed by the floor price fund

15.10%

reserved for marketing, partnerships and community developers

7.50%

distributed to contributors linearly over 2 years

1.90%

Tokenomics:

Uniqueness

Instead of an order book model employed by centralized exchanges (CEXs), trading occurs via its an innovation to the automated market model (AMM) deployed by DEXs like Uniswap. It features a native multi-asset pool, GLP, which generates revenue for liquidity providers.

GLP operates as a multi-asset liquidity pool ( LP ) which comprises of ETH, BTC, LINK, UNI, USDC, USDT, DAI and FRAX at the time of writing. Market prices depend on Chainlink's oracles, which collect token price data from all the top exchanges.

The decentralized exchange ecosystem is based on two tokens: GLP and GMX. The first token serves to supply liquidity. The GLP price reflects the value of all GMX assets, which are listed for trading with leverage and swaps. In other words, GLP is an index of all assets on the exchange. GMX is the utility and governance token.

Users can add liquidity by minting GLP, and in return, they receive 70% of all fees generated on the corresponding blockchain. Unlike some liquidity pools, GLP experiences no impermanent loss. Furthermore, the GLP pool acts as a counterparty for traders. When GLP token holders supply liquidity for leveraged trading, they profit when traders incur losses, and the opposite is also true.

Token utility

$GMX is the platform's utility and governance token. Holders can stake their $GMX on Arbitrum and Avalanche and receives three types of rewards:

Escrowed GMX
Multiplier Points
ETH / AVAX Rewards

30% of fees generated from swaps and leverage trading are converted to ETH / AVAX and distributed to staked GMX tokens. If you are staking on Arbitrum you would receive ETH, if you are staking on Avalanche then you would receive AVAX. The GMX token has a floor price fund in ETH and GLP. It grows in two ways:

GMX/ETH liquidity is provided and owned by the protocol, the fees from this trading pair will be converted to GLP and deposited into the floor price fund
50% of funds received through Olympus bonds are sent to the floor price fund, the other 50% is used for marketing

The floor price fund helps to ensure liquidity in GLP and provide a reliable stream of ETH rewards for all staked GMX. As the floor price fund grows, it can also be used to buyback and burn GMX if the (Floor Price Fund) / (Total Supply of GMX) is less than the market price, this would lead to a minimum price for GMX in terms of ETH and GLP.

Links

Website:https://gmx.io/

X:https://twitter.com/GMX_IO

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What is the development prospect and future value of GMX?

The market value of GMX currently stands at $294.19M, and its market ranking is #197. The value of GMX is widely recognized by the market. When the bull market comes, the market value of GMX will likely continue to increase.

Moreover, if GMX can play a greater role in practical applications, such as GMX builders fully leveraging the potential of GMX, partnering with more businesses, and increasing its user base, the long-term value of GMX will be significantly enhanced.

What will the price of GMX be in 2025?

Based on GMX's historical price performance prediction model, the price of GMX is projected to reach $44.56 in 2025.

What will the price of GMX be in 2030?

In 2030, the GMX price is expected to change by +8.00%. By the end of 2030, the GMX price is projected to reach $53.46, with a cumulative ROI of +85.54%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of GMX and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

GMX price GMX price prediction GMX news

Is GMX worth investing or holding? How to buy GMX from a crypto exchange?

If you want to buy GMX, the following information may be helpful for your investment decisions:

In the last seven days, the price of GMX has risen by 10.78%, leading to positive returns for most GMX investors. The market is currently optimistic about the price trend of GMX.

It is important to note that the current price of GMX has retreated by -86.23% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether GMX is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in GMX or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of GMX, if you want to buy or sell GMX, you can consider Bitget for your trading needs. The best place to buy GMX is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in GMX has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy GMX. Here's a step-by-step guide on how to buy GMX on Bitget.

Buy GMX now Coin buying guide

How to get GMX through other methods？

Using cash to buy GMX is not the only way to obtain GMX. If you have the time to spare, you can get GMX for free.

Learn how to earn GMX for free through the Learn2Earn promotion.

Earn free GMX by inviting friends to join Bitget's Assist2Earn promotion.

Receive free GMX airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to GMX through Bitget Convert, Bitget Swap, or spot trading.

What is GMX used for and how to use GMX?

The use case of GMX may expand as the crypto market and the project itself develop. Currently, you can use GMX to achieve the following goals:

Arbitrage by trading GMX: Since GMX is a frequently traded cryptocurrency, the price of GMX is always fluctuating. Earn more GMX by buying low and selling high on the exchange. Bitget spot market provides a variety of GMX trading pairs to fully meet your needs.

Earn by staking GMX: You can also generate income through financial management methods such as staking GMX or lending GMX. Bitget Earn offers a variety of financial products designed to help you earn more income from your GMX.

Send or pay GMX: If you want to give GMX to your friends, a charity, or a fundraiser, or you want to pay someone with GMX, you can quickly and easily send GMX to the recipient through their payment address.

You can also go to the official website of the GMX project to learn more about the use cases of GMX. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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