Maximize your crypto earnings with staking opportunity

☀️Hello DeFions

 Todays Agenda:

• Earn 20.85% APR for providing liquidity to a decentralized trading platform

• GMX operates a dual token system with GMX as the governance and main utility token, and GLP as the token representing users' stake in the GLP pool, offering numerous advantages and staking opportunities.

  What is GMX?

GMX is a decentralized perpetual contract trading platform that has a unique feature of extended leverage and a decentralized, multi-purpose liquidity pool.

The GLP pool is a community-owned and unionized liquidity pool that serves both the spot trading and perpetual contract trading facilities. GMX has over 85,000 traders using its decentralized perpetual contract trading platforms on the Avalanche and Arbitrum networks. GMX has a dual token system - the GMX and GLP tokens. The GMX token is the governance and main utility token that offers staking rewards to its holders, including earning interests of 8.63% APR and rewards in ETH or AVAX. The GLP token gives its holders numerous advantages, including a stake in the GLP pool.

The pool is producing a 20.85% APR for the liqudity providers at the moment of writing.

Users can contribute single assets to the GLP pool. The pool is used by the Automated Market Maker (AMM) to serve the decentralized spot exchange (swap). The leverage trading algorithm also uses the GLP pool to service loan requests by traders. Thanks to the 30x leverage availability on GMX exchange, perpetual contract traders can borrow up to 30 times the value of their collateral from the GLP pool.

The primary purpose of GLP on the platform is to provide liquidity. In the exchange's unique multi-asset AMM model, GLP has a crucial function, as it is issued to liquidity providers when they invest in the platform's multi-asset indices, which help to maintain the necessary liquidity. When a liquidity provider withdraws their investment, their GLP is burned, resulting in a fluctuation in the supply of GLP due to continuous minting and burning driven by demand. In other words, GLP acts as a synthetic asset that serves as a deposit certificate for the investments made by liquidity providers

Staking rewards include ETH or AVAX (depending on where the token is staked), EscrowedGMX (esGMX), and Multiplier Points.esGMX tokens are vested for a one-year period after which they can be redeemed for GMX tokens can be redeemed for GMX tokens. While vested, esGMX tokens are staked and are eligible for the same rewards as staked GMX tokens. esGMX tokens are not transferable.

Multiplier Points boost interest earned on staked GMX tokens. Multiplier points have a 100% APR. For instance, staking 100 GMX tokens for one year earns you 100 Multiplier points. Multiplier points earn the same ETH and AVAX as GMX tokens staked on Arbitrum or Avalanche blockchain respectively. When the staked GMX tokens are unstaked, the multiplier points are burnt. 

GMX has adopted a groundbreaking strategy for ensuring liquidity provision, which not only facilitates low swap fees but also offers advanced features such as perpetual trades, zero-impact trading, and up to 30x leverage. These features collectively contribute to a positive outlook for the platform as well as its associated token. The token's recent strong performance serves as further confirmation of the exchange's promising market potential.

Thank you for your attention, and we look forward to bringing you more news and insights on Ethereum and other digital currencies in the future.

👋DeFion Labs

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