Gemini Digital Exchange (GMX) is a decentralized spot and perpetual exchange that offers low swap fees and zero price impact trades. Trading is possible through a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, and leverage trading, including spreads, funding fees, and liquidations. GMX also provides asset rebalancing.
GMX allows users to trade in a wide range of cryptocurrencies and tokens. The exchange was founded by a team of experienced entrepreneurs with a passion for building the best possible trading experience for its users.
The GMX exchange is a cutting-edge platform that is currently available in Europe. The GMX exchange is expected to launch in the United States and Asia in the future. The DEX is currently available on the Arbitrum and Avalanche platforms.
The goal of GMX is to become the global go-to trading platform for cryptocurrencies and tokens. The project team believes that the platform will revolutionize the way people trade cryptocurrencies and tokens, making it easier and more accessible than ever before. The vision of GMX is to create a world where everyone can participate in the global financial marketplace, regardless of location or financial status. GMX sees the cryptocurrency and token economy as the future and aims to be at the forefront of this new market.
Thanks to utilizing Chainlink Oracles together with TWAP pricing from the most known DEXs GMX is able to offer dynamic pricing. The platform offers a variety of features, including market orders, limit orders, and stop orders.
GMX is designed to be the easiest and most user-friendly trading platform available. It provides users with a comprehensive range of trading features and tools, including:
Basic trading: Basic account allows users to trade a limited number of cryptocurrencies and tokens.
Full trading: Full account offers all the features of the Basic account, plus access to advanced trading tools.
Professional trading: Professional account offers even more trading features and tools, including access to the margin trading platform.
The GMX token is the lifeblood of the GMX platform. The GMX token is an important part of the GMX exchange ecosystem that fuels the system. The coin is used to pay trading fees and to reward users for their contribution to the platform. The GMX token is also used to purchase cryptocurrencies and tokens on the GMX exchange. GMX has a total supply of 13.25 million tokens, which is controlled by the 28-day timelock.
The GMX tokens can be bridged between Ethereum and Arbitrum, though it’s not recommended unless necessary as it requires waiting for 7 days, during which the tokens can’t be used.
GMX accrues 30% of all the transaction fees on the network. Users can also stake the tokens to secure the network, receiving up to 10,95% APY (on Avalanche and Arbitrum networks). The project also has a GLP token - a liquidity-providing asset, which accrues the rest 70% of the fees on the platform.
Average Fees on the GMX Exchange
The price of opening a trading position on the GMX exchange is 0,1%, and the same fee of 0,1% is applied for each closing position transaction. There is also a borrowing fee, that users have to pay. If a swap is needed, the regular swap fee is between 0,2-0,8%%.
The GMX Token Wallets
The GMX token is supported by the majority of the common crypto wallets, including Math Wallet, Frontier wallet, Wallet Connect, Venly, Coinhub, Zerion Wallet, ONTO Wallet, OKX Wallet, and some others.
