Arbitrum

Standard

Chainlink

Avalanche

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/what-is-gmx-coin/" data-wpel-link="internal">What is GMX Coin?</a> 
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. 
<h2 style="text-align: justify" id="what-is-gmx-coin-gmx">What is GMX Coin (GMX)?</h2> 
The automated <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> maker (AMM) model is the most popular liquidity provision system used by <a href="https://en.coin-turk.com/south-koreas-bithumb-exchange-sees-record-bitcoin-trading-volume/" data-wpel-link="internal">cryptocurrency exchanges</a>. This system, which solves the main limitations of the order book model, has become widely used in the crypto industry. Some exchange platforms are now exploring innovative ways to improve the default AMM setup. GMX is such a project. The decentralized exchange (DEX) uses a unique multi-asset liquidity model, which is an interesting twist on the default AMM. 
GMX (GMX) is a decentralized spot and perpetual trading crypto exchange where users can benefit from low exchange fees and zero price impact trades through leverage trading and market making. GMX uses Chainlink oracles to provide dynamic price information from various exchanges. 
The exchange offers services on the Arbitrum Layer 2 protocol and the Avalanche (AVAX) blockchain. More than three-quarters of trading activity occurs on Arbitrum, while Avalanche provides much lower trading volume. 
Opening and closing positions each cost a 0.1% fee. If a swap is made when opening or closing a position, a swap fee ranging from 0.2% to 0.8% of the collateral is also applied. 
Another notable feature of the platform is its multi-asset AMM model. Liquidity providers invest in index assets on the platform and receive GLP, the platform’s liquidity cryptocurrency, in return. The index assets are based on a basket of assets used for swaps and leveraged trading on the platform. 
The GMX token is used for governance and staking purposes on the exchange. Token holders can vote on various proposals related to the platform’s operations. The token can be staked on the exchange in exchange for three types of rewards: 
<ul style="text-align: justify"> 
 <li>Escrowed GMX</li> 
 <li>Multiplier points</li> 
 <li>Standard ETH (for Arbitrum) or AVAX (for Avalanche) rewards</li> 
</ul> 
The standard rewards on the platform include 30% of the exchange revenue generated from swaps and leveraged trading. Neither GMX nor the platform’s other cryptocurrency, GLP, is used for transaction payments. These transactions are conducted in ETH on Arbitrum and AVAX on Avalanche. 
GLP is primarily used to provide liquidity on the platform. In the platform’s unique multi-asset AMM model, GLP plays a key role. When liquidity providers invest in the platform’s multi-asset indices, newly minted GLPs are issued to them. 
<h2 style="text-align: justify" id="how-to-buy-gmx-coin">How to Buy GMX Coin?</h2> 
GMX Coin can be quickly and securely purchased via <a href="https://accounts.binance.com/en/register?ref=M8RGDITW" target="_blank" rel="noopener nofollow noreferrer" data-wpel-link="external">Binance</a>, the world’s largest cryptocurrency trading platform in terms of trading volume. 
To buy GMX Coin, you first need to become a member of Binance and then transfer fiat currency. After transferring fiat currency such as&nbsp; dollars, you can perform a buy transaction in the GMX/BTC, GMX/BUSD, and GMX/USDT trading pairs where GMX Coin is traded. 
In addition, users can place purchase orders at a lower price, not just the market value on <a href="https://accounts.binance.com/en/register?ref=M8RGDITW" target="_blank" rel="noopener nofollow noreferrer" data-wpel-link="external">Binance</a>. To do this, simply use the Limit tab and enter the amount you want to buy and the price you want to buy at. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/what-is-gmx-coin/" data-wpel-link="internal">What is GMX Coin?</a></h5>
The post <a href="https://en.coin-turk.com/what-is-gmx-coin/" data-wpel-link="internal">What is GMX Coin?</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

What is GMX Coin?

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