GMX GMX Price

Trading on the GMX exchange is supported by a unique, multi-asset pool that allows liquidity providers to earn their commissions from:

• marketmaking;
• exchange commissions;
• leveraged trading;
• asset rebalancing.

History of GMX

• In 2021, the project was launched as Gambit on the Binance Smart Chain (BSC),
• In the fall of 2021, the project moved to Arbitrum and expanded to Avalanche in early 2022.
• In November 2022, the GMD protocol was launched by third-party developers.
• On September 19, 2022, an unknown trader used the GMX exchange to manipulate the price of AVAX.The price manipulation affected GLP holders who provided liquidity to GMX in the form of AVAX.
• On October 5, 2022, GMX, the exchange's own service token was listed on the popular cryptocurrency exchange Binance.
• On March 21, 2023, according to a post on the GMX governance forum, several members of the GMX community are promoting the platform's expansion to another blockchain. The decentralized GMX exchange has received a proposal from its community to deploy a protocol on the announced Coinbase Level 2 blockchain.

GMX Tokens

GMD

GMD allows you to make money by providing liquidity to a GLP pool from GMX without buying the entire basket of crypto assets. If you place your funds in GMD pools, in addition to the risks of GLP, you additionally accept the risks of this intermediary, including the possibility of a scam or hacking of a smart contract.

GMX Emission

Currently, 8,296,780 GMX tokens have been issued out of a total supply of 13,250,000. esGMX issuance will end in December 2022. There is a 28-day hold on the issuance of GMX tokens beyond the maximum supply of 13.25 million, but the additional issuance option is only planned to be used in the exceptional event of launching new products requiring liquidity. Before any changes to the issuance, there will be a general vote among all GMX holders.

GMX Storage

GMX tokens can be stored in any ERC-20 wallet. But if you will be working on a GMX cryptocurrency exchange, it must support the Connect Wallet feature. You can use Metamask browser extension or Trust Wallet mobile wallet as well.

GMX Insurance

There are insurance protocols that allow you to insure your investment in GMX or other crypto-protocols. This kind of insurance can protect against smart contracts and bugs that result in loss of funds. Such GMX insurance-enabled protocols include insureDAO and Nexus Mutual, for example.

Summary

GMX is a growing decentralized business that generates profits and distributes them to protocol token holders. All transactions are completely transparent, with agreements captured in smart contracts, recorded on the blockchain and available for analysis by anyone who wants to see them.

In addition, the project has an active and friendly community, and the project is developing without any marketing costs. GMX has a real chance to become a full competitor to the leading CEX , with high liquidity for popular traded pairs of swaps and open-ended futures contracts.