For some time now, @GMX_IO has been a CT darling and is one of the best places to trade perps on-chain. Today we’re going to focus on multiplier points (MPs) as they are are an innovation upon the accepted ve- token model.
What are multiplier points?
Put simply, they are a mechanism that serves to reward long term holders without contributing to token inflation. When $GMX is staked, the user receives multiplier points every second at a fixed rate of 100% APR.
Atlantics are a groundbreaking innovation coming from Dopex that are complex and must be explained from the ground up. Resources will be linked throughout to add detail.
Dopex Background
@Dopex_io is a Decentralized OPtions EXchange that uses @Arbitrum (an ETH L2) to enable options trading via their SSOVs (single staking option vaults).
An options contract allows the buyer to buy/sell (depending on option type) the underlying asset at a set price (strike price) and a date that the option expires (expiration date).
If you’re not an active NFT trader and you have exposure to blue chip NFTs, there’s a good chance your NFT is just sitting in your wallet doing nothing. @JPEGd_69 changes this.
The JPEG’d Value Proposal:
- NFT Holders - Access to Liquidity
- Liquidity Providers - Access to Trading Fees
- Governance Holders - Govern the Protocol
- Bridge the Gap between NFTs and DeFi
Let’s break each of these down.
Liquidity Access:
By depositing your NFT into the vault, you will be able to mint $PUSd (the native stablecoin) against the NFT. You can either LP with $PUSd or swap it for something else to pursue other endeavors.