• GMX is a decentralized perpetual exchange that supports low swap fees and zero price impact trades, currently available on Arbitrum and Avalanche.

  • GMX is the native token of the project. The current use cases for GMX include:

    • Staking: GMX holders can stake GMX to receive escrowed GMX (esGMX), multiplier points, and ETH/AVAX rewards. This can be accessed on the Earn page.

    • Protocol Fee: Users pay fees in GMX tokens.

    • Governance: Participate in DAO governance.

  • The project consists of the following major components working in conjunction:

    • Spot & Perpetual DEX: Users can swap tokens and open long or short positions with up to 30x leverage.

    • Price Feeds: The PriceFeed contract accepts submissions from the price feed keeper. This keeper calculates prices using the median price of Binance, FTX and Bitfinex.

    • Escrowed GMX (esGMX): These reward tokens can be converted into GMX tokens through vesting.

    • GLP: GLP is the liquidity provider token of the platform, it can be minted using any of the tokens within the liquidity pool such as ETH, BTC and USDC.

    • Referrals: Affiliates referral program with tier system, referrers receive rebates for users they brought onto the platform.

  • As at October 6th 2022, the total token supply of GMX is 8,648,200. The current circulating supply is 7,990,696 (~92.4% of the total token supply).

  • Learn more about the token distribution of GMX here.