GMX boasts several features that differentiate it from other decentralized exchanges, such as low swap fees, zero price impact trades, and Chainlink Oracles integration.
GMX also supports perpetual contract trading with up to 30x leverage, zero spreads, and aggregated oracle quotes to help traders reduce liquidation risk, more accurately control positions, and predict gains and losses.
The dealer always hopes that a gambler’s error in judgment will result in a margin forfeit, even if the opening desk fee and hourly interest income mitigate the occasional lucky win.
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GMX is built on the Arbitrum, and Avalanche GMX provides trading services for spot and perpetual contracts on the chain. GMX supports up to 30x leverage, and users can enjoy low transaction fees and near-zero spreads.
GMX is a decentralized exchange built on Avalanche and Arbitrum. It lets DeFi users trade with up to 30x leverage in a permissionless manner. GMX offers a smooth user experience that's perfectly suited to retail DeFi traders. Share this article
GMX users can “long” or “short” up to 30 times the size of their collateral by borrowing funds from a large liquidity pool.
The esGMX reward can be linearly unlocked into GMX tokens after one year by pledging GMX tokens or GLP tokens to encourage long-term pledging and provide liquidity.
As long as there is liquidity in the pool, the exchange will complete the transaction without the risk of not finding a counterparty to more info match and being unable to trade.
The goal of a liquidity provider is to passively deposit assets to earn income without the need for complex operations, which GMX does very well because GLP liquidity pools are used in a way that is not much different from depositing in a bank account. Liquidity providers are wary of erratic losses, which GMX also addresses, as GLP liquidity pools are single-asset deposits and withdrawals that do not convert the deposited assets into other assets due to price fluctuations.
The broader trend in copyright trading also shows a shift towards onchain solutions, with decentralized exchanges increasingly becoming the preferred choice for privacy-focused traders.
Because the GMX protocol improves the traditional liquidity pool model, users of the GMX exchange may benefit or be at risk depending on what decentralized financial services they use and what role they play in the GMX exchange.