About GMX Coin
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. Trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, leverage trading (spreads, funding fees & liquidations) and asset rebalancing.
Dynamic pricing is supported by Chainlink Oracles along with TWAP pricing from leading volume DEXs. For token holders: Tokenomics and Rewards For liquidity providers: GLP For traders: Trading
GMX aims to provide a better trading experience with low swap fees and zero-price impact trades. The trading happens through its native multi-asset pool, GLP, which earns fees for liquidity providers. In addition, GMX uses Chainlink Oracles for dynamic pricing to aggregate prices from other high-volume exchanges.
GMX Coin Point Table
|Coin Name||GMX Coin|
|Circulating Supply||8,365,539 GMX|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
GMX Price Live Data
The live GMX price today is $42.12 USD with a 24-hour trading volume of $25,368,717 USD. They update the GMX to USD price in real-time. This is up 3.16% in the last 24 hours. The current CoinMarketCap ranking is #83, with a live market cap of $352,358,661 USD. It has a circulating supply of 8,365,539 GMX coins and the max. supply is not available.
If you would like to know where to buy GMX at the current rate, the top cryptocurrency exchanges for trading in GMX stock are currently Binance, BTCEX, BingX, OKX, and Deepcoin. You can find others listed on crypto exchanges page.
How Does GMX Work?
The trading on GMX is facilitated by a multi-asset pool called GLP. It consists of 50-55% stablecoins, 25% ETH, 20% BTC, and 5-10% other altcoins, such as Chainlink and Uniswap.
The liquidity is added when users mint GMX Liquidity Provider Tokens (GLP). In exchange for minting GLP, they earn 70% of all fees generated on that particular blockchain. Contrary to some liquidity pools, GLP suffers no impermanent loss.
Anyone can become a supplier of this liquidity pool and, in return, earn fees. And users who want to trade perpetual swaps or spot can do it using the assets provided. Moreover, the GLP pool is a counterparty to the traders; as GLP token holders provide the liquidity used for leverage trading, they profit when traders lose — and vice versa.
The GLP token can be minted using any of its index assets and burnt to redeem any index asset. Unlike the GMX token, it is automatically staked and not transferable. GLP’s price, rewards, and index composition differ between Arbitrum and Avalanche.
Reduce Liquidation Risks
An aggregate of high-quality price feeds determine when liquidations occur. This keeps positions safe from temporary wicks.
Save on Costs
Enter and exit positions with minimal spread and zero price impact. Get the optimal price without incurring additional costs.
Open positions through a simple swap interface. Conveniently swap from any supported asset into the position of your choice.
GMX emphasizes the importance of community and has tried to foster the DeFi mindset of engagement and tool-building amongst its users.
Its community-built tools include a Telegram positions bot, the gmx.house leaderboard, the gmxstats.com page, Dune Analytics Dashboards, and calculators that benefit traders, stakers, and liquidity providers. GMX has a growing list of collaborative projects building DeFi functionality with GMX’s composable lego blocks.
The community also takes care of communication about the GMX ecosystem. For example, the community-driven weekly newsletter The Blueberry Pulse highlights developments in the GMX ecosystem. The Blueberry Podcast does the same in audio format.
FAQ Of GMX Coin
Where I Can Find GMX Whitepaper?
You Can Find GMX Whitepaper By Clicking Here.
Where I Can Buy/Sell GMX Token?
You Can Buy or Sell GMX Token On Some Popular Exchange For Example – Uniswap (V2), MEXC.
What is Circulating Supply Of GMX Token?
Circulating Supply Of GMX Token Is 21,000,000 BC.