It is a decentralized spot and perpetual DEX exchange that supports low swap fees and trades with zero price impact. Trading is backed by a unique multi-asset pool that receives liquidity provider fees from market making, swap fees and leveraged trading. Dynamic pricing is supported by Chainlink oracles along with TWAP from leading DEXs.
GMX token
It is the utility and governance token of the coin defi platform, and its possession opens up many benefits. Staked GMX receives three types of rewards: deposited GMX, multiplier points and Polygon blockchain rewards. 30% of fees, generated from swaps, and leverage trading are converted into ETH and allocated to GMX tokens. This project token has a floor price fund in ETH and GLP.
It grows in two ways:
| 1 | GMX/ETH liquidity is provided and owned by the protocol, fees from this trading pair will be converted to GLP and contributed to the floor price fund. |
| 2 | 50% of funds, received through Olympus coins, go to the minimum price fund, the remaining 50% is used for marketing. |
The current minimum price fund can be viewed on the toolbar. The Floor Fund helps to ensure liquidity in GLP and ensure a reliable flow of rewards in ETH for all GMX stakes. As the floor price fund grows, it can also help to buy back and burn these platform tokens, if (floor price fund) / (total supply) is less than the market price, this will result in a GMX floor price.
Minting and distribution of tokens
$GMX offer can be viewed on the dashboard. The increase in circulating supply will vary, depending on the number of transferred tokens and the number of tokens, used for marketing/partnership. The projected maximum supply - 13.25 million $GMX tokens. Minting beyond the maximum supply of 13.25 million is controlled by a 28-day time block.
Escrowed GMX tokens (esGMX) can be converted into GMX tokens through entitlements, which can be accessed on the Earnings page. When a transfer is initiated, the average amount of GMX or GLP tokens that was used to earn esGMX rewards will be reserved.
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