Guide to GMX and GLP — decentralized crypto exchange

Published in

Stakingbits

3 min readJan 30

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What is GMX?

GMX is a decentralized exchange protocol that is currently deployed on Arbitrum and Avalanche, offering up to 50x leverage on tokens using perpetual contracts.

Instead of trading actual tokens, users deposit collateral and take long or short positions, depending on their view on the market. Profit is paid in USDC (for shorts)…

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