GMX is a blockchain-based platform that functions as a decentralized spot and perpetual exchange. It enables traders to execute crypto trades directly from their own wallets. Key benefits versus competing solutions include low swap fees and the possibility to trade with zero price impact.

The GMX token is used to cover network fees and can also be staked.

What are GMX’s key features and how does it work?

GMX’s main offering revolves around its trading capabilities. It supports both spot trading and perpetual contract trading. Through its liquidity leverage, users can use leverage of up to 30x. The GMX network uses an automated market maker (AMM) design: it is built around multiple liquidity pools, and trading is powered by these multi-asset pools. Liquidity providers can supply funds to the pools and earn rewards afterward. These rewards are funded by market making activity, swap fees, and leverage trading. 

Chainlink Oracles enable GMX to deliver dynamic pricing, along with price aggregation from exchanges with high trading volumes. GMX tokens can be moved between the Ethereum and Arbitrum networks, though a 7-day waiting period applies during which tokens are not available for use while bridging is in progress.

What is noteworthy about GMX?

The GMX ecosystem promotes community participation in the protocol, including supporting the creation of community-developed initiatives. A few examples of completed or active projects include:

What can GMX be used for?

GMX can be staked to receive rewards. Different fee types may be distributed as escrowed GMX, multiplier points, and ETH/AVAX Rewards. Of the swap and leverage-trading fees collected on the platform, 30% are converted into either ETH or AVAX and then paid out to GMX stakers.

Where can you buy GMX?

GMX can be traded on the following CEXs and DEXs listed here. Among the most popular choices with the most liquidity are MEXC Global and SushiSwap. GMX pricing will differ by exchange selection and broader market conditions. For the latest and historical GMX price information, check the price charts on this page.