Rewards are distributed to white hat hackers based on the severity of the vulnerability. This bounty program focuses on preventing Direct theft of any user funds, Permanent freezing of funds, Insolvency, Unable to call smart contracts, etc., and much more. Here is a quick table for reference:
The GMX project has a clear roadmap for the future. The team plans to introduce new features and enhancements to the GMX network, with the aim of making GMX a leading copyright in the digital asset landscape.
The development team of the GMX protocol is also very much in the style of Web 3, and the members are all anonymous, so pelo one knows who they are yet, but the only thing for sure is that they have made a great product. According to the list of members of the social software Telegram, the GMX team consists of the following members (all names are displayed in Telegram)
GLP is the liquidity provider token. Accrues 70% of the platform's generated fees and distributes it to all GLP stakers.
GMX is built on the Arbitrum, and Avalanche GMX provides trading services for spot and perpetual contracts on the chain. GMX supports up to 30x leverage, and users can enjoy low transaction fees and near-zero spreads.
One of the key features of GMX is its scalability. The GMX blockchain is designed to handle a high volume of transactions without compromising on speed or efficiency.
By offering both spot and perpetual exchange features, GMX enables users to trade cryptocurrencies with immediate settlements or take long and short positions with up to 50x leverage. This versatility makes GMX a one-stop-shop for copyright traders of all levels.
In terms of perpetual contracts, the GLP liquidity pool works interestingly, a bit like an AAVE type of lending agreement, where the trader deposits a portion of the assets in the GLP liquidity pool as margin, then lends a higher value asset from the GLP liquidity pool to bet against the GLP liquidity pool, paying a percentage of interest every hour before the margin is liquidated or the asset is returned.
Trading fees and bid-ask spreads are liquidity providers’ primary income gmxio copyright sources. However, those who buy and sell frequently and in big quantities prefer lower costs, tighter bid/ask spreads, and greater market depth.
The esGMX reward can be linearly unlocked into GMX tokens after one year by pledging GMX tokens or GLP tokens to encourage long-term pledging and provide liquidity.
The price of GMX will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for GMX market prices, please view the price charts on this page.
Changing the borrowing fee structure to only charge the side (long or short) with greater open interest, instead of charging both sides.
The remaining GBCs are sold publicly at 0.03 ETH each, with the proceeds from the sale becoming a community development fund that currently holds over $750,000 worth of GMX and GLP. The project has many active contributors from the community, again demonstrating the grassroots nature of the GMX development team, which is based on the community and for the community.
GMX innovatively redefines liquidity pools, allowing users to exchange assets at a low cost and without price slippage, even for large transactions. For liquidity providers, GLP liquidity pools are not plagued by impermanent losses. They can add and redeem liquidity with a single asset and earn various revenues, such as transaction fees, funding rates, and liquidation fees.