A Deep Dive Into GMX

GMX is an on-chain spot and margin trading exchange that offers “zero-slippage” trades through the use of the GLP pool, which is a shared liquidity pool that is used as both an index of assets and enables trading on the platform.

There are 2 tokens within the GMX mechanism, GMX and GLP. The former is the governance token of the protocol, while the GLP token is a representative share of the GLP pool. Staked GMX tokens earn 30% of trading fees generated from swaps and margin trading, while GLP holders earn the remaining 70%.