Enter the amount of ETH you’d like to swap for GMX tokens. GMX.io will display the equivalent amount of GMX tokens you’ll receive.
GMX is a decentralized perpetual exchange tailored for copyright futures trading. According to the protocol, it boasts minimal swap fees and zero price impact. It also offers traders the flexibility to leverage up to 50x on major cryptocurrencies like BTC, ETH, among others.
The dealer always hopes that a gambler’s error in judgment will result in a margin forfeit, even if the opening desk fee and hourly interest income mitigate the occasional lucky win.
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Depositing money in a bank account is pelo different, although the return mechanism is not the same as a simple lending agreement.
One of the key features of GMX is its scalability. The GMX blockchain is designed to handle a high volume of transactions without compromising on speed or efficiency.
Entenda saiba como resulta a corretora descentralizada GMX e saiba como incluir o token pelo seu portfólio
But are the traders winning, or are the liquidity providers at GLP making money? Long-term performance data gives us the answer. In the case of Arbitrum, the most heavily traded market, as of October 2022, users of GMX for perpetual contract here trading had accumulated losses of over $45 million.
GMX users can “long” or “short” up to 30 times the size of their collateral by borrowing funds from a large liquidity pool.
The founder details of GMX are not prominently disclosed, aligning with the decentralized ethos of the platform which focuses more on collective governance and community-driven development.
BloFin also allows users to buy cryptocurrencies directly with fiat through debit or credit cards, adding convenience that’s rare among non-KYC exchanges.
So why would traders still want to use the GMX protocol for trading? Because the market depth of GMX is excellent, and there are no slippage problems. Because the profit of trading is from the spread trading, using the order book trading or AMM liquidity pool trading will be due to a large amount of buying or selling to increase costs or reduce profits, but through the GLP liquidity pool to open.
This allows users to leverage up to 50x on their trades and tap into a multi-asset GLP pool worth more than $603 million.
Almost all centralized exchanges now require KYC as a standard practice. Recent examples from 2024 include copyright and BingX, both of which have implemented stricter KYC protocols, receiving mixed reactions from users on forums like Reddit.