From bf818f2682d18e73037f5e594a9692d3884a10a7 Mon Sep 17 00:00:00 2001
From: "dr. mia von steinkirch, phd"
 <1130416+mvonsteinkirch@users.noreply.github.com>
Date: Wed, 8 Feb 2023 08:56:48 -0800
Subject: [PATCH] Update gmx.md

---
 MEV_on_Arbitrum/gmx.md | 31 ++++++++++++++++++++++++++-----
 1 file changed, 26 insertions(+), 5 deletions(-)

diff --git a/MEV_on_Arbitrum/gmx.md b/MEV_on_Arbitrum/gmx.md
index 2711139..549d414 100644
--- a/MEV_on_Arbitrum/gmx.md
+++ b/MEV_on_Arbitrum/gmx.md
@@ -6,12 +6,32 @@
 
 <br>
 
-* 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.
+* 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).
+* 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.
+* 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).
 
+<br>
+
+---
+
+### tokenomics
+
+<br>
+
+* $GMX: 
+  * participate in 30% of protocol fees
+  * earn escrowed GMX (esGMX)
+  * earn multiple points that boost yields 
+
+
+* $esGMX
+  *  
+
+
+<br>
+
+<img width="739" src="https://user-images.githubusercontent.com/1130416/217584094-7d12706a-527c-4642-babd-0c554946c229.png">
 
 
 <br>
@@ -23,3 +43,4 @@
 <br>
 
 * [gmx price oracle abuse](https://twitter.com/ChainsightLabs/status/1580208615654584321?s=20&t=-FG5kQ_7kAKhLnbuk05wSg)
+