GMX

  • a decentralised perpetual exchange with up to 50x leverage

  • don't actually own, buy or sell any token, but deposit collateral instead to take long/short positions

  • market prices are based on Chainlink's oracles, which aggregates price feeds from leading exchanges, cannot be manipulated by automated market maker

  • zero price impact trades, support limit orders, and low swap fees

  • L2 Arbitrum is also known as the 'GMX chain'

GLP pool

  • community-operated ‘unionised' liquidity pool

  • GLP holders to provide liquidity for leveraged trading, earn when traders lose and vice versa

  • GLP can be bought with any token in the GLP pool

  • Traders have to pay fees on

    • Trading fee of 0.1% of the position size to open a trade

    • Borrow fee equal to (assets borrowed)/(total assets in pool) * 0.01% per hour, it varies based on the assets' utilization rate

  • Platform fees

    • 30% to GMX stakers

    • 70% to GLP holders (liquidity providers)

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