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Derivative exchanges

Overview

What is GMX?
GMX is a non-custodial exchange for spot and perpetual contracts, live on Arbitrum, Avalanche, MegaETH and Solana. GMX was founded by an anonymous team and launched in 2021.
How does GMX work?
Liquidity providers deposit funds into GMX and receive trading fees from traders (supply-side fees).
Who governs GMX?
GMX token holders own and govern the protocol. On the EVM deployments they take a cut of the total trading fees paid by traders (revenue), split between GMX buybacks and the treasury. On Solana the protocol's share accrues to that deployment's treasury rather than to GMX token holders.
RevenueGMX's share of trading fees (27% buybacks, 10% treasury)$37Connects liquidity providers & tradersSupply-side feesLiquidity providers' share of trading fees$63Liquidity providersFeesTrading fees$100Traders
The values in this graphic are examples and do not reflect actual values. Treat them as approximations.

On-chain sources