GMX is a decentralized exchange (DEX) for trading perpetual cryptocurrency futures with up to 50x leverage against popular cryptocurrencies such as BTC, ETH. The platform launched in September 2021 and is called Gambit Exchange. To date, GMX has had a total trading volume of over $130B and a total of 283K users, making it the leading derivatives DEX on Arbitrum and Avalanche.

Unlike the order book model adopted by centralized exchanges (CEXs), GMX is conducted through innovations in automated market models (AMMs) deployed by DEXs such as Uniswap. It features a local multi-asset pool GLP that generates revenue for liquidity providers. GLP operates as a multi-asset liquidity pool (LP) that includes ETH, BTC, LINK, UNI, USDC, USDT, DAI and FRAX. Market prices depend on Chainlink's oracle, which collects token price data from all top exchanges.

This decentralized trading ecosystem is based on two tokens: GLP and GMX. The first token is used to provide liquidity. The GLP price reflects the value of all GMX assets, which are traded through leverage and swaps. GMX tokens are utility and governance tokens that also accumulate 30% of fees generated by the platform. GMX runs on the Arbitrum and Avalanche blockchains. These ecosystems are connected to exchanges via Synapse (cross-chain bridge).

The founding team is anonymous, but the lead developer may be @xdev_10 on Twitter.

Above are only for introduction, not intended as investment advice.