Thread by @CryptoAndoro

$GMX is one of the biggest narratives in #DeFi right now, I took everything important about @GMX_IO and put it into this thread.

If you want to trade with reduced fees: gmx.io/?ref=CryptoPepe

Now, grab a coffee and enjoy the education: 🧵👇

1. @GMX_IO is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades.

Website: gmx.io/#/

2. Liquidity providers earn fees from market making, swap fees and leveraged trades. The resulting unique multi-asset pool is used for trading with zero price impact.

3. @chainlink oracles and leading volume exchanges are feeding the protocol with price information. There is little space for errors and unpredictable events.

4. Let’s take a look at the Tokenomics:

$GMX is the platform’s utility and governance token.
86% out of 7.892.717 $GMX are staked, 10% not staked, and 4% are added as liquidity.

app.gmx.io/#/dashboard

5. Forecasted max supply: 13.25mm $GMX.

Minting beyond the max supply is possible and controlled by a 28day timelock. There is also a governance vote before any changes will be Implemented. This way you’ve plenty of time to react.

6. Next to $GMX we’ve $GLP. $GLP is the platform’s liquidity provider token. It consists of an index of assets used for swaps and leverage trading. It can be minted using any index asset and burnt to redeem any index asset.

7. For Arbitrum, holders of the $GLP token earn escrowed $GMX rewards and 70% of platform fees paid out in ETH.
Note that $GLP is specific to each network you mint it( $AVAX or @arbitrum). It’s not directly transferrable between networks.

8. As $GLP holders provide liquidity for leverage trading, they will make a profit when leverage traders make a loss and vice versa.

Past PnL data, GLP price chart and other stats can be viewed on
gmx.stats.com

I've included statistics later in this thread as well.

9. After buying $GLP, your tokens will automatically be staked and you will start earning escrowed GMX and ETH / AVAX rewards (depending on network), you can check your rewards at

app.gmx.io/#/earn.

10. One of the attractive things about $GLP is, how it provides #RealYield to its users. Instead of just printing new tokens, all yield paid out to $GLP owners comes from trading fees and trader losses on @GMX_IO.

11. Price performance of $GLP:
If the general market prices are increasing, then the price of $GLP will increase as well. Since $GLP is composed ~50% of stablecoins, it will be more stable than other tokens while retaining some upside of $ETH and $WBTC.

12. Each index asset has a weight and target weight. Fees for minting and burning $GLP are calculated by the relation of these weights.
Take a look at this thread to read more about it:

Thanks to @dLuxGMI

13. Now you understood how @GMX_IO Is working, It’s time for some statistics. Please note that all these statistics can be tracked anytime in future on stats.gmx.io.

14. Swap Fees, aka the success of adoption

15. GLP is outperforming other LP-pairs like ETH-USDC or BTC-USDC. Even in a bear market.

16. Traders Net PnL is negative, as mentioned above, that’s great for $GLP holders.

17. New users are entering the protocol every day. Imagine this metric going parabolic in a bull market.

18. I hope you liked my thread about $GLP & $GMX. If you did, please leave a follow and don’t miss out future updates and threads about trending cryptocurrencies.

19. Special thanks to follow people for dropping threads and information about $GMX:

- @photon0x
- @GMX_IO
- @GBlueberryClub
- @cryp_growth
- @marvin89x
- @defipleb
- @tanoeth
- @GucciXBT
- @xdev_10
- @blocmatesdotcom
- @TaikiMaeda2
- @Mark2work
- @SmallCapScience
- @0xSifu

I made a mistake with the link for the statistics, it's leading to an error page. stats.gmx.io That's the correct website. Please apologize.