diff --git a/MEV_on_Arbitrum/gmx.md b/MEV_on_Arbitrum/gmx.md index d793b25..2711139 100644 --- a/MEV_on_Arbitrum/gmx.md +++ b/MEV_on_Arbitrum/gmx.md @@ -6,6 +6,12 @@
+* decentralized perpetual futures exchange, being a foundational primitive and source of liquidity by arbitrum-based protocols +* enables traders to open up to 50x leveraged long or short positions via borrowing from of a basked of assets known as GLP +* GLPs functions as the counterparty, as it accrues values when traders loses, and bleeds values when traders win. +* GLP also 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. +