One of the up and coming projects on Arbitrum network that’s caught my eye recently is GMX. GMX is a decentralized perpetual exchange (DEX) built on our beloved Arbitrum network. It lets you trade popular cryptocurrencies with leverage up to 50x, meaning you can amplify your potential profits (and losses). Here’s what makes GMX stand out:
- Zero price impact trades: Trade large amounts without affecting the market price.
- Low swap fees: Save on transaction costs compared to other DEXs.
- Safe positions: Automatic liquidations protect you from excessive losses.
- Two token system:
- GMX: Governance token, earns fees and rewards for staking.
- GLP/GM: Liquidity provider tokens for different versions of the platform.
- Active community: Growing user base and strong tokenomics model.
On Arbitrum, GMX benefits from this Layer 2’s:
- Faster transaction speeds and lower fees compared to Ethereum mainnet.
- Enhanced security and scalability for the DEX platform.
In short, GMX offers a powerful and user-friendly way to trade crypto with leverage on Arbitrum, attracting both retail and institutional investors.
It’s worth noticing that GMX might have a great impact on future tradings of the Arb network, so getting to know it a bit might help us have a better understanding of our ecosystem!