From 3a41687d18bbcf25389a314a3f5182b8ed8d5ffe Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Sun, 12 Feb 2023 09:56:31 -0800 Subject: [PATCH] Update README.md --- MEV_by_chains/MEV_on_Arbitrum/gmx/README.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/MEV_by_chains/MEV_on_Arbitrum/gmx/README.md b/MEV_by_chains/MEV_on_Arbitrum/gmx/README.md index 40a4d46..fc0351e 100644 --- a/MEV_by_chains/MEV_on_Arbitrum/gmx/README.md +++ b/MEV_by_chains/MEV_on_Arbitrum/gmx/README.md @@ -7,7 +7,7 @@
* decentralized spot and perpetual futures exchange, built on arbitrum and avalanche, with low swap fees and zero price impact trades (large trades are set at the mark price). -* gmx enables traders to open up to 30x leveraged long or short positions via borrowing from a multi-asset pool known as [$GLP](https://gmxio.gitbook.io/gmx/glp) ($BTC, $ETH, $UNI, $LINK, and stablecoins), that earns lp fees through market making, swap fees, leverage trading, and asset rebalancing). +* gmx enables traders to open up to 50x leveraged long or short positions via borrowing from a multi-asset pool known as [$GLP](https://gmxio.gitbook.io/gmx/glp) ($BTC, $ETH, $UNI, $LINK, and stablecoins), that earns lp fees through market making, swap fees, leverage trading, and asset rebalancing). * $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 for 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 for $GMX stakers.