This means as traders profit GLP will have to pay out, but if traders are unprofitable GLP accrues even more value on top of fees. Since leveraged trading is quite hard, GLP pools have made an additional ~$10M on Arbitrum and ~$1M on Avalanche.
The main reason for including this was to ascertain whether protocols were limiting capital efficiency to make room for more effective liquidations.
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The tokenomics model of GMX has been a key factor in its success, with significant fees generated for GMX stakers and a surge in demand for GLP. The goal is to replicate this model on Solana and make it work seamlessly on the network.
The last day of January saw a cool billion dollars in transaction volume for Jupiter exchange, compared to $781 million in volume by the leading DEX, Ethereum-based copyright V3. As an X user commented, who’s the poor chain now? Ouch.
Democratization of liquidation profits is defined as the access to, and competition for, liquidations and their resulting profits. Liquidations on Ethereum are typically https://gmxsol.pro/ dominated by keeper bots that compete to liquidate discounted collateral.
The website also details GMX and GLP’s market capitalizations and highlights the project’s partnerships, integrations, and related community projects. It furthermore includes a documentation section, which provides information on the exchange’s various components, and suggests methods to bridge to Arbitrum or Avalanche, or to acquire GMX and GLP tokens. Thanks to its detailed dashboards, GMX gives off an impression of transparency. As a result, the protocol’s mechanisms are relatively simple to grasp.
The perpetual contract price could stray away from the spot price in extreme market conditions, but this happens less often than seen in traditional futures contracts.
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When a user opens a trade or deposits collateral, GMX takes a snapshot of its dollar value. The value of the collateral does not change throughout the trade even if the price of the underlying asset does.
However, the addition of Solana could help GMX tap into Solana’s large community of traders and strengthen its position in the trading landscape. Whether this potential will be realized remains to be seen. We will continue to Observe.
Note that limit orders are not guaranteed to execute, this can occur in a few situations including but not exclusive to:
The launch is notable because GMX is utilizing Chainlink Data Streams, which provide high-frequency market data using Chainlink’s infrastructure. Historically, Chainlink has lagged behind competitors like Pyth in providing high-frequency pricing data, resulting in a considerable loss of market share.
Limit orders can be created by selecting the "Limit" option after selecting whether you would like to open a long or short.