GMX (GMX)
GMX
Please note: like most trading venues, we display the current mid-market rates in our price charts. When you trade, you get the current bid or ask price depending on whether you are buying or selling. There is always a slight difference between the mid-market and the current bid or ask prices. This is a natural result of how Exchange order books work.
Digital currencies are very high risk. Do not invest money you can’t afford to lose. Please consider the suitability of crypto for your individual position before trading.
What is GMX Protocol (GMX)?
GMX Protocol is a decentralized exchange (DEX).
Here’s how GMX describe themselves:
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.
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.
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.
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.
How to buy GMX (GMX)
With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet.
Nothing could be easier.
Here’s how fast it is to get started:
1. Go to Uphold.com and click sign up.
2. Enter your email address and personal details.
3. Click the link we send you and create a password
… and you’re off to the races!
Just start trading.
Get more coin for your coin
0% withdrawal fees
Low spreads
