Why buy GMX?
Wondering whether to buy GMX, the most popular DEX token of the moment? This dapp, which became popular on Arbitrum’s blockchain and later also landed on Avalanche, allows its users to trade derivatives (perpetual futures) easily and cheaply.
GMX is currently the most widely used protocol on Arbitrum as well as 22nd in the global rankings with a Total Value Locked (TVL) of around USD 500 million.
This decentralised exchange has climbed the ranks in this sector mainly for two reasons. For one, thanks to the derivatives offering, the trading volumes of which have steadily increased in recent months. But also because the trading fees paid by users are redistributed to those staking the GMX token.
If you believe this project is innovative and has potential, you might want to buy GMX to benefit from its growing adoption.
What is GMX?
GMX is a decentralised exchange available on Arbitrum, one of the most popular and widely used Layer 2 of Ethereum, and on Avalanche. It allows trading in derivatives (perpetual futures) with up to 50x leverage quickly and with very low fees. Trading on this platform is supported by a multi-asset liquidity pool (GLP) and an oracle system provided by Chainlink to access market prices.
The token of the same name is needed to participate in future protocol decisions (governance), but it also guarantees its owners a share in the platform’s profits.The maximum supply of GMX is 13.25 million tokens while the circulating supply is, as of today, 9 million. The ATH (All Time High), the maximum value touched by the crypto, is $217. If you are an experienced trader or want to delve into the subject professionally, or if you think this protocol will be successful, you can consider buying GMX. By owning the token you can receive a percentage of the platform’s revenue!
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What does the Young Platform do?
Young Platform is the European exchange that blends simplicity with security, already chosen by over 2 million people for buying and selling cryptocurrencies. Backed by significant entities such as Azimut, United Ventures, and Banca Sella, Young Platform eases your entry into the world of cryptocurrencies with a user-friendly interface, easy-to-use trading tools, educational courses, and up-to-date news, all designed to be accessible to everyone. And the best part? It's completely free.
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