GMX is a decentralized exchange that supports spot and perpetual trading for top cryptocurrencies with low swap fees, minimal spread, up to 50x leverage, and zero price impact trading. As of December 2022, the DEX is live on Ethereum’s Layer-2 network Arbitrum and the Avalanche blockchain.
The GMX decentralized spot and perpetual exchange make it possible for crypto traders to trade their digital assets directly from their wallets in a non-custodial interface. In late November 2022, the app shot to fame after its earnings from trading fees exceeded that of Uniswap, one of the largest and most established DEXs in the crypto market.
GMX is the utility and governance token of the GMX platform, offering token holders several benefits. Holders can stake their $GMX tokens on the DEX to receive 30% of trading fees collected by the platform, enjoying a stream of passive income conveniently.
There is also considerable interest in the GMX token among investors who believe in the potential of the Arbitrum network. Without the scaling solution’s native token, investors are buying the GMX crypto as an alternative means to express their support in Arbitrum, supporting higher interest in this cryptocurrency.
