Rewards are distributed to white hat hackers based on the severity of the vulnerability. This bounty program focuses on preventing Direct theft of any user funds, Permanent freezing of funds, Insolvency, Unable to call smart contracts, etc., and much more. Here is a quick table for reference:
GMX tokenomics revolves around two key tokens that form the foundation of the GMX ecosystem. Understanding how these tokens work and interact with each other is essential for any derivatives trader or DeFi enthusiast interested in the GMX exchange.
This means that if the user chooses to vest 100 esGMX tokens which they had earned from staking 1000 GMX tokens, the user will have to stake the 1000 GMX tokens through the vesting cycle. This reduces selling pressure on GMX and GLP as users are forced to stake their tokens through vesting.
Liquidity providers want high returns, and GMX opens the way to make this possible. As long as the market traders lose money, returns will increase. Liquidity providers do not want to take the risk of loss, GMX uses statistics to show that short-term losses will occur, but long-term profits are the inevitable result.
1) GMX/ETH liquidity is provided and owned by the protocol, the fees from this trading pair will be converted to GLP and deposited into the floor price fund
GMX is the utility and governance token. Accrues 30% of the platform's generated fees and distributes it to all GMX stakers.
GMX has formed partnerships with several major companies and organizations in the blockchain industry. These partnerships help to enhance the functionality and reach of the GMX network.
GMX is a decentralized exchange built on Avalanche and Arbitrum. It lets DeFi users trade with up to 30x leverage in a permissionless manner. GMX offers a smooth user experience that's perfectly suited to retail DeFi traders. Share this article
GMX aims to stand out by eliminating impermanent loss for liquidity providers and leveraging an AMM system that integrates leverage and futures trading directly into the liquidity pool, fostering a self-sustaining trading ecosystem.
As GMX doesn’t yet handle billions of dollars of volume like its centralized counterparts, it’s currently a product best suited to small retail traders. Still, after rapid growth over recent months, GMX could soon attract the institutional market as more big players start to experiment with DeFi. With more room for growth ahead, it’s well worth keeping an eye on.
This reduces the price volatility of GMX and provides a stable source of income for pledgers. read more Users who stake GMX tokens also receive Multiplier Points, which boost the user’s share of GLP liquidity pool proceeds by a certain percentage.
Protocol revenue is split 70/30 between $GLP and the other protocol token $GMX. In addition to getting the larger share of protocol revenues, $GLP holders also get all the collateral when positions are liquidated which leads to a fluctuating but over-time growing inflow of revenue.
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.io.
GMX operates on a consensus mechanism that ensures all transactions are validated and recorded on the blockchain in a secure and transparent manner. This mechanism is designed to prevent double-spending and maintain the integrity of the GMX network.