What is GMX?
GMX is an oracle-based spot and leverage trading DEX on Arbitrum and Avalanche.
Background
An anonymous team founded GMX. However, they seem to have prior links to Gambit Finance and XVIX.
How Does It Work
GMX flipped the game by bringing the simplicity of perpetuals to leveraged trading. GMX uses a liquidity pool of 50% stablecoins and 50% tokens such as ETH and BTC. This liquidity pool is the source of all spot and levered trades. Oracle price feeds are used to determine the execution price for its trades.
Key Takeaways
- Oracle-based perp dex.
- $GMX is its governance token.
- Perp dex is live on Arbitrum and Avalanche.
- Founded by an anonymous team.