Description
GMX is a decentralized spot and perpetual exchange available on Arbitrum and Avalanche, enabling users to trade major cryptocurrencies such as BTC, ETH, and AVAX with up to 100x leverage directly from their wallets. The platform is designed for low swap fees, minimal spread, and reduced liquidation risks, supported by high-quality price feeds from Chainlink Oracles and an aggregate of leading exchanges. Liquidity is sourced from unique multi-asset pools; its V2 protocol utilizes automated GMX Liquidity Vault (GLV) pools and individual GMX Market (GM) pools. Liquidity providers contribute assets to these pools and earn a majority of the fees generated from market making, leverage trading, borrowing, and swaps. The GMX token is the core utility and governance asset, allowing holders to participate in the GMX DAO through a structured proposal and voting system. Token holders also accrue a percentage of the platform's generated fees, which are distributed via a buyback-and-distribute mechanism.