Starting from 10:10 AM UTC on October 05th, we officially list GMX Token (GMX) on the ONUS application. Soon after GMX is added, users can perform the following features:
- Off-chain transactions: Send and receive GMX with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to GMX and vice versa.
What is GMX?
GMX is a decentralized Spot and Perpetual exchange that operates on Arbitrum and Avalanche. GMX uses the novel GLP Pool model, where traders can experience smooth trading with low cost, 0 slippage and 0 funding rate. With many unique innovations and innovations, GMX has attracted many investors and competed with many major competitors: dYdX, Perpetual, MCDEX.
- Use separate liquidity pools and trading prices will be determined by Chainlink’s Oracle, which uses TWAPs from major DEX exchanges.
- Operates on two blockchains with cheap transaction fees and high transaction speeds: Arbitrum and Avalanche.
- Meet large liquidity thanks to the GLP Pool model.
- It is possible to use a variety of tokens (ETH, BTC, LINK,…) to provide liquidity and receive GLP tokens, when you do not want to provide liquidity, you can sell GLP to receive tokens in the pool.
What is token GMX?
GMX is the utility and governance token of the platform, so holding will bring a lot of potential. In addition, users can Staking GMX to receive up to three types of rewards, including:
- Escrow GMX: Get esGMX.
- Multiplier points with a 100% fixed APR.
- ETH/AVAX Rewards: Get back 30% of the total transaction fee in the form of AVAX or ETH.
- Name: GMX
- Symbol: GMX
- Platform: Arbitrum, Avalanche
- Standard: ERC-20, ARC-20
- Token Type: Utility, governance
- Smart contract:
– Arbitrum: 0xfc5a1a6eb076a2c7ad06ed22c90d7e710e35ad0a
– Avalanche: 0x62edc0692BD897D2295872a9FFCac5425011c661