GMX
GMX is the governance and revenue-share token for the GMX protocol.
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- Asset Type: ERC-20
- Market Cap: $275M
- Fully Diluted Valluation: $275M
- FDV / MC: 1
- Ranking inside Exponential (excluding stables): #50
- Circulating Supply: 9,889,092
- Total Supply: 9,889,092
- Total Supply: 13,250,000
- Volume (24H): $27.7M
- ATH: $91.07 (04/18/2023)
- ATL: $11.53 (06/15/2022)
GMX is a low-cap asset that represents the blockchain`s native currency or monetary fee used to execute transactions on the network. This asset is exposed to the underlying risks of GMX, a protocol rated as Watch out.
GMX has a fixed supply. GMX stakers receives 30% of platform fees paid in ETH.
GMX is highly correlated to the overall market.
What is GMX used for?
GMX is the governance and revenue-sharing token. Stakers receive a portion of platform fees in ETH and escrowed GMX (esGMX), as well as multiplier points. Users can vote on protocol parameters around leverage settings, exchange listings, and liquidity mining rewards.
GMX tokenomics
The forecasted max supply of GMX is around 13.25M tokens. Minting beyond the max supply is controlled by a 28-day timelock; this option will only be used if more products are launched or liquidity mining is required. The proposed distribution of the total supply includes 6M tokens for prior token migrations, 2M GMX paired with ETH on Uniswap, 2M reserved for vesting from esGMX, 2M to be managed by the price floor fund, 1M for marketing, partnerships and community developers, and 250K tokens distributed to the team (vesting linearly over two years).
How does GMX accrue value?
GMX collects 30% of all platform fees and distributes to stakers paid in ETH and esGMX. GMX charges a 0.1% fee for opening and closing positions plus a dynamic borrowing fee based on utilization rates and the underlying asset you choose to profit in. Swap fees are also dynamic and based on whether a swap improves the weights of assets in the GLP (GMX liquidity provider token) pool towards or away from the target allocations. Minting and redeeming of GLP similarly incurs a dynamic fee based on whether the selected asset is currently over or under-weight.
