All quotes are firm for their displayed duration and are inclusive of our fees and spread. Learn more about Uphold’s fees and spread.
Quotes are temporary and non-executable. You must sign in to your Uphold account to execute a quote and start trading.
Like most trading venues, our price charts display current mid-market rates. When you trade, you receive the current bid or ask price, depending on whether you are buying or selling. The difference between the mid-market rate and the bid or ask price is the spread, which is a normal feature of how exchange order books work.
Digital currencies are high risk. Do not invest money you cannot afford to lose. Please consider whether trading crypto is appropriate for your individual circumstances before investing.
About GMX
GMX Protocol is a decentralized exchange (DEX).Â
Here’s how GMX describe themselves:Â
GMX has differentiated itself from its competitors by solving two of DEXs most common issues: low liquidity and poor user experience.
Launched in 2021, the spot and perpetual trading platform allows users to trade directly from external wallets, with up to 50x leverage. They boast low swap fees, and the platform is designed to be as user-friendly as possible.Â
The project is built on the Arbitrum and Avalanche blockchains.
How does it work?
To trade on GMX, all you need is a crypto wallet. No registration is needed.Â
Most decentralized exchanges tend to have issues providing adequate liquidity. Not so for GMX, whose team has claimed to have come up with a solution in the form of a multi-asset liquidity pool called ‘GLP’ (you can find the full breakdown on their website). Any user can help provide liquidity, and liquidity providers are rewarded for their participation.Â
GMX also uses Chainlink price oracles to pre-empt customer behavior and further hedge against any liquidation risk.
GMX token utility?
GMX is the platform’s utility and governance token. It can also be staked – when staked users are rewarded for providing liquidity. Staking rewards are paid out in ETH or AVAX.
View their documentation for further details.
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