There are some special keywords when talking about GMX's operating model:
- Liquidity pool with 0 slippage.
- Index tokens.
- Rebalance Portfolio.
GMX does not apply an order-book model like dYdX, nor does it use AMM pools like Perpetual. GMX has its own liquidity pools and prices will be traded based on Oracle prices.
For example, if you want to swap ETH to DAI on GMX, the way it works will be... More