The GMX price update as of now is $29.33. In the previous 24 hours, its trading volume was $15,034,129, and its value has decreased by -0.32%. As of now, GMX's live market cap is $18,866,464, and it is ranked as the #727 on the Coincu. GMX has a circulating supply of 643,154 and a maximum supply of 643,154.

About GMX

GMX is a decentralized spot and perpetual exchange project. It initially launched on the Arbitrum development platform and gained a significant user base before expanding to Avalanche.

GMX offers traders a comprehensive set of tools for spot trading as well as long/short positions. It provides several advantages, including cost savings, no arbitrage, no funding rate, and minimal risk of liquidation.

GMX Operation Model

GMX operates on a unique model that differs from traditional order-book exchanges like dYdX or AMM pools like Perpetual Protocol. It has its own liquidity pools, and the price is determined based on the oracle price.

When trading Spot ETH-USDC on GMX:

Users transfer ETH to GMX's ETH pool, and GMX takes USDC from the USDC Pool to transfer back to the user. The entire process is based on the price provided by the Oracle, specifically Chainlink.

When trading Margin and Perpetual leverage, ETH-USDC x5:

Users can utilize x5 leverage based on the oracle price and trade as usual. The project allows users to borrow x5 USDC to purchase ETH.

Attention: When trading leverage

Transaction Fee: Initial fee for opening a position.
Lending Fee: Fee for borrowing to increase leverage.
Spread: Small fee paid to the exchange as a middle party.

Liquidity supply model

All liquidity provided by users is converted into GLP tokens. When liquidity is no longer needed, users can exchange GLP tokens for any asset in the pool.

GLP represents all liquidity pools on GMX and can be seen as an index representing a basket of assets used for liquidity provision on GMX.

=> When providing liquidity on GMX, users are providing liquidity for the entire asset pool, not just one token. Therefore, investing in GLP tokens also means investing in the index with the corresponding ratio:

GMX Roadmap 

The GMX project has the following development plans for the near future:

Platform reliability and interface improvements:

Synthetic token: Supporting synthetic tokens through PvP AMM or enhancing the platform by providing more options for traders.

X4 / new chains: Implementing these chains after the launch of synthetic tokens.

In addition to these main directions, GMX will continue to develop interfaces and features such as:

Share position
Integrated Trading Chart
One-minute chart
Improved transaction history
Closing positions and receiving supported tokens

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