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Difference between revisions of "GMX"
Added protocol design portion describing GMX, esGMX, and GLP tokens.
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ProductLlama (talk | contribs) (Added protocol design portion describing GMX, esGMX, and GLP tokens.) |
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As of April 28th 2022, GMX has $341m total value locked (TVL). | As of April 28th 2022, GMX has $341m total value locked (TVL). | ||
== Protocol Design == | |||
The three main tokens associated with GMX are GMX, esGMX, and GLP. | |||
GMX tokens are used for governance and can be staked for a share of swap and leverage fees. 30% of swap and leverage fees are converted to ETH on Arbitrum or AVAX on Avalanche and distributed to stakers of GMX tokens. | |||
70% of swap and leverage fees are distributed to GLP token holders in ETH on Arbitrum or AVAX on Avalanche. | |||
GLP (GMX Liquidity Provider) tokens can be minted with any asset supported by GMX on the chain the user is interacting on and can be redeemed for any other asset in the pool. GLP token holders also earn esGMX (escrowed GMX rewards) which function as GMX tokens that vest over time. | |||
== References == | == References == | ||
[[Category:DEX]] | [[Category:DEX]] | ||
[[Category:Protocols]] | |||
<references /> | |||