There are some special keywords when talking about GMX's operating model:
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
Is it advisable to invest in the GMX token? The answer depends on your investment goals and risk tolerance in my opinion. One of the greatest strengths the GMX token offers is its various utility features that can potentially generate passive income for holders. For instance, GMX token holders can benefit from fee sharing rewards, receiving 30% of the platform's fees, while staking GMX tokens can... More
The GMX community is made up of individuals who are highly enthusiastic about decentralized future trading markets. In this new and rapidly growing market, the community is taking advantage of the benefits of decentralization. Despite being relatively new, the GMX community is rapidly growing and influence, as more and more individuals become interested in perpetual trading. In terms of how... More
The technology underpinning GMX has solidified its position as a leader in the decentralized derivatives products arena, thanks to its distinctive value proposition built on three key pillars:
Robust value accrual for GMX token holders and liquidity providers in ETH.
Non-Inflationary tokenomics model - GMX employs a tokenomics model that avoids the pitfalls of inflationary token... More
GMX is a crucial component of Derivatives Perpetual, the first Perpetual trading platform on Arbitrum, enabling users to profit by optimizing trading features. PROS:
GMX operates on the BSC, but after successfully deploying the product on Arbitrum, the project has fully transitioned its operations to Arbitrum. Additionally, with the distinction of being one of the first perpetual contract trading platforms on Arbitrum, GMX has gained a stable user base and expanded to Avalanche afterward. GMX is known for representing the Real Yield model in DeFi.
GMX has a... More
Imagine the possibility of earning yields while actively trading – well that's precisely what GMX offers to its users. GMX empowers traders not only to engage in trading but also to stake and lend their digital assets.
The platform's decentralized spot + perpetual contract trading platforms utilize the power of the $GMX token + the GLP pool, providing traders with access to substantial liquidity... More
GMX showed that sustainable revenue sharing model can exist in DeFi space so I personally believe it can be long-term model(except exploit/systemic/the whole crypto risk obv.)
Proof of their progress is as follows (by Q1 2023) :
TVL has been growing consistently despite the bear time (1st picture)
Revenue has been growing (2nd picture)
Big amount of partnerships/announcements and projects built on top of GMX (Source: https://twitter.com/GMX_IO )
GMX operate a crypto exchange where transaction fees are directly linked to the GMX token, which is vastly better than uniswap where the token is only used for governance and unlinked to financial performance of the exchange itself. As such GMX is worth looking into as it gain market share, as the token should appreciate in value in a direct correlation.
In my extensive career, I've seen many platforms in the DeFi space, but GMX raises some red flags. While it offers leveraged trading and yield farming, the platform's security protocols are concerning. Despite undergoing a security audit, the lack of frequent updates and additional audits leaves room for vulnerabilities—something I've seen far too often.
GMX's financial backing is also a point... More
I would rate GMX with 4 stars. It's worth noting that the DEX market is highly competitive, with various options that may provide higher leverage, a more established user base, or a broader selection of trading pairs. However, GMX remains a strong platform, and has some unique features that you may find appealing:
In my personal opinion, GMX provides the most competitive UI/UX trading experience to CEXs as a DEX. We've come a long way since on-chain order books (I worked with one called Saturn Network in 2017, the first censorship-resistant DEX to trade both ETH and ETC blockchains) and if you want a best-of-breed decentralized trading solution... this may be your best option today. Fast enough to scalp... More
Fast growing decentralized perpetual (futures) exchange (leverage trading). I really like this project, they do a lot of things perfectly, including great tokenomics and analytics page. They're missing important stuff like a whitepaper and team, but I'll definitely give them 5 stars here for their outstanding stats page. This should become industry standard. You should be able to simply type stats.project.com and get this on any project. Insane that their users lost a combined 40M+ usd.
GMX GMXGMX (GMX) is a cryptocurrency and operates on the Arbitrum platform
