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MEV_by_chains/MEV_on_Arbitrum/gmx.md
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<br> <br>
* decentralized spot and perpetual futures exchange, built on arbitrum and avalanche. * decentralized spot and perpetual futures exchange, built on arbitrum and avalanche
* enables traders to open up to 50x leveraged long or short positions via borrowing from a multi-asset pool known as GLP (that earns lp fees through market making, swap fees, leverage trading, and asset rebalancing). * promised features: minimal liquidation risks, low costs, simple swap, capital efficiency, demand drivers
* GLPs functions as the counterparty, as it accrues values when traders loses, and devalue when traders win. GLP accrues 70% of all trading fees, while stakers of the protocol governance token, earn 30%. GLP is also emerging as a form of collateral, with lending protocols integrating the LP token into their product offerings. * gmx enables traders to open up to 50x leveraged long or short positions via borrowing from a multi-asset pool known as $GLP (that earns lp fees through market making, swap fees, leverage trading, and asset rebalancing).
* native token $GMX functions as a governance, utility, and value-accrual token. all collected fees fo to the GMX fee pool, which issues fee rewards (e.g., ETH/AVAX). * $GLPs function as the counterparty, as it accrues values when traders loses, and devalues when traders win. $GLP accrues 70% of all trading fees, while stakers of the protocol governance token, earn 30%. $GLP is also emerging as a form of collateral, with lending protocols integrating the LP token into their product offerings.
* native token $GMX functions as a governance, utility, and value-accrual token. all collected fees fo to the $GMX fee pool, which issues fee rewards (e.g., ETH/AVAX).
* a floor price fund helps ensure liquidity in the $GLP pool, plus a reliable stream of $ETH rewards fo $GMX stakers
* protocol's revenues come from: swap fees, trading fees, execution fees, liquidation fees, and borrow fees
* protocol risks: liquidity risks, market/oracle manipulation, centralization risk, scalability risk
<br> <br>
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* $GMX: * $GMX:
* participate in 30% of protocol fees * participate in 30% of protocol fees
* earn escrowed GMX (esGMX) * earn escrowed $GMX ($esGMX)
* earn multiple points that boost yields * earn multiple points that boost yields
* $esGMX * $esGMX
* * escrowed tokens are earned by staking $GMX or $GLP and can be vested
* participate in 30% of protocol fees
* earn escrowed $GMX ($esGMX)
* earn multiple points that boost yields
* $GLP
* community-owned multi-asset liquidity pool
* the amm uses the pool to serve the decentralized spot exchange (swap) and perpetual contract services
* no impermanent loss
* earn 70% of protocol fees
* earn escrowed $GMX ($esGMX)
* close positions (withdraw of collateral) triggers $GLP burn mechanism
<br>
##### initial token distribution
* 45.28% (6.000.000 $GMX) allocated to XVIX and Gambit migration
* 15.09% (2.000.000 $GMX) allocated to the Floor Price Fund
* 15.09% (2.000.000 $GMX) allocated to reserve (for vesting from esGMX rewards)
* 15.09% (2.000.000 $GMX) allocated to liquidity (paired with ETH for liquidity on Uniswap)
* 7.55% (1.000.000 $GMX) allocated to the presale round
* 1.89% (250.000 $GMX) allocated to marketing & partnership (distributed to contributors linearly over two years)
<br> <br>