GMX: A Brief Introduction
GMX has been gaining significant traction among traders and investors as a result of the FTX collapse, which has prompted many to turn to decentralized exchanges for perpetual trading. GMX has also gained attention for its low swap fees, zero price impact, and exposure to a diversified index-like product, GLP.
GLP is the liquidity token of GMX, consisting of a basket of assets such as BTC, ETH, and USDC in an approximately 50% stablecoins and 50% volatile assets ratio. LPs can add liquidity by swapping their assets for GLP tokens via the minting process. GLP acts as a counterparty for traders on the GMX platform.
GMX's GLP model spearheaded the real-yield narrative which prompted users to generate yield...