Due to their unique value proposition, GMX is positioning itself to be a leader in this derivatives product offering space because of two main points:
The GMX project has a clear roadmap for the future. The team plans to introduce new features and enhancements to the GMX network, with the aim of making GMX a leading copyright in the digital asset landscape.
The decentralized exchange ecosystem is based on two tokens: GLP and GMX. The first token serves to supply liquidity.
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.
In many ways, the GMX exchange is a better trading platform from a trader’s point of view. Open and close positions at GMX are not bought and sold with an order book or AMM liquidity pool, so there are no slippage issues. In addition, the GMX protocol uses Chainlink’s dynamic aggregation prognostic machine to aggregate quotes from multiple exchanges, which filters out illiquid and abnormal extreme value prices, thus reducing the risk of liquidation.
Users should be cautious of CEXs that currently offer pelo-KYC services, as history has shown that many popular platforms initially allowed no-KYC trading but eventually adopted KYC to comply with regulatory pressures.
GMX is a decentralized copyright exchange that offers spot and perpetual futures trading with low swap fees and zero price impact trades. Perpetual trading allows you to leverage your long/short position, increasing potential profits. Be careful, however, as it also increases risks. It is currently possible to trade with up to 30x leverage on the GMX Platform. Trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, and leverage trading. Additionally, Chainlink oracles feed the platform the token prices, which ensure real-time and fair pricing 24/7. here The GMX Platform has two native tokens that serve different purposes, GMX and GLP.
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
The GMX project is spearheaded by a team of experienced developers and blockchain experts who are committed to making GMX a leading copyright. The project operates on a governance model that ensures transparency and accountability.
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.
The opinions expressed in this blog do not constitute investment advice and independent financial advice should be sought where appropriate.
Users can go “long,” “short,” or simply swap tokens on the exchange. Traders go long on an asset when they expect its value to increase, and they short in expectation of being able to buy an asset back at a lower price.
The advantages of the GMX protocol model for users of exchange assets are apparent. Regarding transaction fee rates, GMX is the same as most other decentralized exchanges, around 0.3% of the Perfeito transaction amount. Still, regarding exchange rate stability, GMX outperforms almost all of its competitors in the market.