1 year ago

GMX is a decentralized perpetual exchange with up to 50x leverage.

In this video, we'll explore what GMX is, review the GMX and GLP tokens, and show you how to use this exchange.

Launched in September 2021, GMX is a perpetual contract trading platform for top cryptocurrencies.

Unlike decentralized spot exchanges, on GMX you trade perpetuals. You don't actually buy or sell any token. Instead, you deposit collateral and can take long and short positions. At settlement, the profit is paid in USDC (for shorts) or the pair's other token (for longs).

On GMX, you get leverage of up to 50x.

Coupled with zero price impact trades, limit orders, and low swap fees, GMX became a magnet for degens. Especially those who try to qualify for potential Arbitrum airdrop.

The market prices are based on Chainlink's oracles, which aggregates price feeds from leading exchanges. This makes positions safe from liquidations due to random ticks on a single automated market maker.

As a result, GMX became the top dapp on Arbitrum by TVL and the leading perpetual exchange in DeFi. The total trading volume exceeded $80 billion, as of December 2022.

Arbitrum Bridge:
https://bridge.arbitrum.io
How To Bridge Your Assets To Arbitrum Using MetaMask
https://consensys.net/blog/metamask/how-to-bridge-your-assets-to-arbitrum-using-metamask/

AVAX Bridge:
https://core.app/en/bridge/

GMX Referral Code:
Arbitrum
https://app.gmx.io/#/trade/?ref=DefiRebels
AVAX
https://app.gmx.io/#/trade/?ref=DeFiRebelsAVAX

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