GMX is a decentralized spot and perpetual exchange that allows slippage-free trades on its platform. GMX uses a dual-token model – GLP for liquidity providers and GMX for governance. Platform fees are split 70-30 between GLP holders and GMX stakers. The protocol uses novel methods to incentivize protocol participation without increasing short-term supply. Instead of growth, the protocol optimizes for value capture for its governance token. Currently, it falls short of its goal of the ideal decentralized exchange.
