GMX is a decentralized, permissionless exchange for perpetual swaps and spot trading, facilitating on-chain cryptocurrency trades directly from users' wallets. Launched on the Arbitrum One blockchain in September 2021 and later on Avalanche in January 2022, GMX supports these two networks. It allows trading of major cryptocurrencies like BTC and ETH with up to 50x leverage, offering an experience akin to centralized exchanges but with users retaining asset custody.
Central to GMX is its native token, also named GMX, serving as a governance, utility, and value-accrual asset within its ecosystem. Staking GMX tokens yields a share of the protocol's fees and additional incentives. The platform's unique feature is its multi-asset pool, GLP, which holds a mix of stablecoins, ETH, BTC, and other altcoins. This pool facilitates trading and offers liquidity providers fee earnings without impermanent loss.
GMX's trading mechanism is supported by GLP, with liquidity providers earning 70% of fees generated. GLP tokens, which represent a stake in this pool, can be minted and burnt for various assets. GMX also uses Chainlink Oracles for dynamic pricing, aggregating prices from high-volume exchanges.
The GMX token not only enables voting on protocol decisions but also provides stakers with three types of rewards: a 30% share of protocol fees (paid in ETH or AVAX), escrowed GMX (esGMX) tokens, and Multiplier Points that boost yield. The token has a capped supply of 13.25 million, with a significant portion currently staked.
Distinctly, GMX offers a simple swap interface for leveraged positions, akin to traditional platforms, but with self-custody and trustless operation. It combines spot swaps and leveraged trading of perpetual swaps, aiming for high capital efficiency and reduced price impact during trading. The platform leverages Chainlink Oracles to mitigate liquidation risks from price fluctuations.
GMX fosters a strong community ethos, with various community-built tools and communication channels like the Blueberry Pulse newsletter and Blueberry Podcast. Traders and stakers benefit from a user-friendly interface for trading and staking, with clear instructions and options like limit orders, take profit, and stop loss orders. Staking GMX tokens is straightforward, offering multiple rewards visible in the user interface.
The fastest, most convenient way to purchase GMX is to purchase it on ICONOMI. We check GMX live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy GMX by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if GMX is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy GMX, we recommend you read the next section, as copying might be a better approach.
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the βtickerβ filter to find out which public Crypto Strategies have GMX in their structure.
Here you can read and comment on all posts made by Strategists about GMX GMX. See all GMX price predictions in real time and make the best use of their crypto knowledge.
$SEI is on the move! Gotta love it.
If you want to be ready for the upcoming months, check out my alternative strategy. It carries a bit more risk, but the main idea is to stay flexible. Itβs worth considering for a portion of your allocation. Itβs been outperforming $BTC over the past 3 months. This strategy isnβt public yet since itβs still under $5K invested.
Current holdings: $SEI $DOT $AAVE and $GMX ...
$GMX overview π
While our portfolio holds many quality assets like $ROSE , $ATOM, $OSMO $EGLD , this post will be dedicated to DeFi powerhouse protocol. The leader of decentralised perpetuals and the most profitable DEX.
Recently $GMX has had a vote with revenue share with it's token holders. In past revenue was shared in terms of $ETH to stakers but no more. Current revenue will be used to buy back and burn $GMX tokens.
Protocols revenue will automaticly market buy $GMX tokens and burn them. It's DeFi ecosystem is expanding in non EVM ecosystems like SOLANA. So I'm expecting much much more liquidity to come to $GMX .
More liquidity --> More volume --> More revenue --> More buybacks of $GMX tokens.
This will catapult price from 25$ to atleast 3 digits in my opinion in medium term.
Data doesn't lie.
Check for yourself who is the leading perpetual DEX in last 6 months ππ
$GMX MAJOR UPDATE π₯
$GMX has recently announced it will transition to BUYBACK BURN MODEL, meaning 27% of all fees generated by perpetual DEX will go towards burning tokens.
For past 2 years all revenue share was beeing done in $ETH to all stakers.
But recently devs proposed an upgrade to return value to token holders.
If we observe total fees accrued to $GMX holders we can observe that within 2 years leading perpetual DEX has generated over 343M$ in fees π± π₯
27% of that was shared to stakers = aproximately 92M$ π
Now if past dynamics and userbase stays the same this will mean roughly 92M$ in buy pressure of $GMX tokens and burning them. Reducing initial supply.
$GMX has only 9,6M tokens and current market cap of 270M$ β
If 92M$ goes towards burning tokens in next 2 years this will reduce supply for atleast 30% - 35%. β
This means price will have to rise π
If userbase, TVL, fees increase, etc... this will be perfect combination for massive bull run for leading decentralised perpetual DEX.
$GMX VALUATION ESTIMATE π
If you consider future speculative multiplier with massive value accrual for GMX token holders I do believe that even 200$ per $GMX is realistic price target.
This is the reason that $GMX is 20%+ of our structure. DeFi season will return in crypto. It's just a matter of time and I think $GMX wil be one of the leading horses.
MARKET REVIEW π
The past 30 days have been very rough in crypto as most altcoins made new lows or made heavy corrections.Meme coins experianced heavy corrections so in my opinion following weeks will be fueled by fundamentaly strong projects.
This is not the time to quit. This is the time to dig deep, analyse and prepare for the real altcoin bull run. Mega sales like these are what we dream. When sales come everybody is afraid to buy.
REMEMBER π YOU NEED TO BUY FEAR!
THIS IS HOW YOU MAKE MONEY LONG TERM β
In truth altcoin season never picked up in last 2 years. It was mainly $BTC , $ETH and just few AI and Meme projects.
Who knows me knows I used to say sooner than later this industry wont offer free money and tide wont lift all boats anymore. Fundamentals will start to matter. And that's the truth for 2023 & 2024 so far.
If you've been following our strategies you've noticed we haven't made new lows. Our thesis switch shows we're on right track and $ROSE has been one of best performers in past 30 days.
If you observe Meme coin dominance it's fading away. And soon capital shift will start to occur. In my opinion strong fundamentals will matter the most and narrative fit.
I'll continue to monitor the markets and prepare us for the real altcoin bull run β
Stack strong and stay strong πͺ
