GMX

GMX is a decentralized perpetual exchange built on the Arbitrum and Avalanche networks. It allows users to trade spot or perpetual contracts on various cryptocurrencies with up to 100x leverage directly from their wallets.

Key Features of GMX:
Decentralized: Built on the Arbitrum and Avalanche blockchains, GMX offers the benefits of decentralization, such as censorship resistance and security.
Perpetual Contracts: Users can trade perpetual contracts on various cryptocurrencies, allowing for leveraged exposure to both long and short positions.
High Leverage: Up to 100x leverage is available, enabling users to amplify their potential gains (and losses).
Liquidity Mining: GMX offers a liquidity mining program, allowing users to earn rewards by providing liquidity to the platform.
Multi-Chain Support: GMX operates on both Arbitrum and Avalanche, providing users with flexibility and access to different ecosystems.
How GMX Works:
Users deposit cryptocurrencies: Users deposit supported cryptocurrencies into the GMX platform as collateral for their trading positions.
Trading: Users can open long or short positions on various perpetual contracts with up to 100x leverage.
Liquidations: If the value of a user’s position falls below the maintenance margin, their position can be liquidated to protect the platform’s liquidity.
Liquidity Mining: Users can provide liquidity to the platform’s trading pools and earn rewards in the form of GMX tokens.
GMX Token:
The GMX token is the native token of the platform and serves multiple purposes:

Governance: GMX token holders have voting rights on platform governance decisions.
Fees: A portion of trading fees is distributed to GMX token holders.
Liquidity Mining Rewards: GMX tokens are used as rewards for liquidity providers.
Important Note: Trading with leverage involves significant risk and can result in the loss of your entire investment. It’s crucial to understand the risks involved before trading and to use leverage responsibly.