The GLP price reflects the value of all GMX assets, which are listed for trading with leverage and swaps. In other words, GLP is an index of all assets on the exchange. GMX is the utility and governance token.
But what of the ethos of decentralization set out in the Satoshi whitepaper, at copyright’s very inception?
The tokenomics is as follows: 6M GMX allocated for XVIX and Gambit migration; 2M GMX paired with ETH for liquidity on copyright; 2M GMX set aside for vesting from Escrowed GMX rewards; 2M GMX tokens to the floor price fund; 1M GMX tokens designated for marketing, collaborations and community developers; 250K GMX tokens distributed to the team linearly over a 2-year period.
To deploy the program to the devnet, we will use solana-playground . This was our workaround to the dependency issues we faced.
If an ETH long position is opened and the position size is larger than the collateral value, then there would be a price at which the position's loss amount is very close to the collateral value.
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Following the GMX exchange’s rebranding from Gambit and merging XVIV tokens, over 45% of the GMX token supply is expected to be absorbed by old Gambit and XVIX holders migrating their tokens to GMX. 15% of the Completa supply has been added to the GLP pool while about 2% of the Completa supply will be used for further marketing of the GMX exchange.
O investidor de que adquire tokens GLP identicamente conjuntamente recebe taxas do tratado com as transações alavancadas realizadas na DEX, para além do ganhar tokens GMX qual podem possibilitar ser usados para o staking na própria rede.
Stakers can earn three types of rewards when they lock up GMX: escrowed GMX (esGMX), multiplier points, and ETH or AVAX rewards. esGMX is a derivative that can be staked or redeemed for GMX over a period of time, while multiplier points reward long-term GMX stakers by boosting the interest rate on their holdings.
The reverse is the case when the asset drops in value. Depending on the extent of the drop or rise in value a future trader gets liquidated if they fail to increase their collateral or close their position to stop their losses.
Under normal circumstances, the long and short open interest should be mostly equal and price impact should be minimal.
GLP is a basket of assets used for trading and leverage trading. It can be minted using any of the assets in the basket and burned to redeem any of the assets.
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Disclosure: At the time of writing, the author of this piece owned ETH and several other https://gmxsol.pro/ cryptocurrencies.