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MEV_by_chains/MEV_on_Arbitrum/gmx/README.md
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* 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..
* 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) (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 fo to the $GMX fee pool, which issues fee rewards (e.g., ETH/AVAX).