From the social media and the GitHub public codebase, it is clear that this anonymous team is working hard on its development. While it’s impossible to rule out the possibility that the team disbanded and the project was abandoned, their ability to deliver products and introduce new features is evident to everyone and has earned them the trust of the copyright community and other projects.

Although the GMX protocol demonstrates strong potential and a positive development outlook, the market is always uncertain. Therefore, users must conduct comprehensive analysis and risk assessment before making investment decisions.

GMX is a decentralized derivative copyright exchange that allows users to enjoy low fees and zero-slip transactions through an innovative GLP multi-asset liquidity pool and aggregated prophecy machine quotes. Users can stake GMX or GLP to gain the network’s native tokens.

According to the GMX.io Official Documentation, the forecasted maximum supply is 13.25 million GMX tokens. GMX.io team can also increase its maximum supply. But the GMX.io team will only use this option if more products are launched and liquidity mining is required.

The most apparent drawback for traders is the small selection of assets in the GLP liquidity pool, as they can only trade with a few cryptocurrencies. There is a potential additional risk of sudden spikes in funding rates, which dynamically adjust to asset utilization in the GLP liquidity pool. For example, suppose you choose to go long on LINK tokens in the contract market of the GMX platform, and soon after, you open a position.

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.

Entenda como funciona a corretora descentralizada GMX e saiba tais como incluir o token pelo seu portfólio

On GMX, users can select a minimum leverage level of 1.1x their deposit and a maximum level of 30x on long and here short trades. 

Regarding protocol development, the GMX exchange has also issued GMX tokens. GMX tokens can be used for the protocol’s governance and staking, to adjust the rate structure and the weight of different copyright assets that affect the GLP liquidity pool, and to receive 30% of the transaction fees, funding rates, and clearing fees in the GLP liquidity pool. The proceeds are directly converted to ETH or AVAX.

The esGMX reward can be linearly unlocked into GMX tokens after one year by pledging GMX tokens or GLP tokens to encourage long-term pledging and provide liquidity.

The GMX Platform feautures 2 native tokens called GMX and GLP, which can be staked to participate in the success of the exchange and earn a part of the trading fee revenue. 100% of all trading fees accrued on GMX, will be shared amogst GMX and GLP stakers.

Drift is Solana’s leading decentralized perpetual futures exchange, offering a broader range of 36 trading pairs compared to its competitor Jupiter, which handles more volume but only supports BTC, ETH, and SOL.

Image Credit: CoinGecko As the bear market continues, investors will be looking for protocols with real users and sustainable revenues. In my humble opinion, GMX fits the bill and will be the front-runner when the market is headed back up again.

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