November 27, 2023 / 3:00 pm
Satoshi Club, GMX 
200$ prize
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Timeline
Part 1
$60/6 users – We’ll select 5 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2
$60/10 users – Open chat for 120 seconds. You can post Max 3 questions. GMX Team will select 10 questions and answer them.
Part 3
$80 – A quiz about GMX
Before you rebranded as GMX, I noticed that you go by the name Gambit Financial on BSC. But when you rebranded to GMX you equally changed to Arbitrum and Avalanche. So my question is why did your team decide to make such a major change including in your tokens? How were users’ funds in XVIX, GMT, XLGE, and xGMT maintained after the rebrand? So far after the rebrand what are the various achievements you have gained in GMX that you think wouldn’t have been possible in the old version of your platform GAMBIT FINANCIAL? Please explain thanks
As a member of the Satoshi Club community
I am genuinely curious about what makes GMX stand out
Beyond the basics of low fees and zero price impact
I’m interested in how GMX caters specifically to the Satoshi Club community.
What features or initiatives make it a compelling choice for us?
According to your roadmap, aside from Arbitrum and Avalanche, I noticed that GMX intends to deploy on other chains, one of which is Coinbase Base an Ethereum Layer-2 network. So my question what is your reason for wanting to deploy to this chain? And when will this migration happen? What other chains do you intend to connect with to improve users’ experience? Still, on your roadmap, can you briefly talk about the new automated market maker you intend to create for projects and pool creators and how this will be of great benefit to them?
GMX is not the only DEX platform in the crypto space many others exist already. So how has GMX stood out from its competitors like dYdX? I want to know if you have any connection with HMX because I noticed that HMX uses a similar pattern per say with GMX. Lastly, I would like to know how you intend to keep GMX running long-term. Please explain thanks
Hello GMX team.
In the expansive realm of cryptocurrency, there are also some notable decentralized exchanges like dydx and Vertex are addressing common financial challenges faced by DEXs. As GMX positions itself as a notable decentralized exchange protocol, I am eager to understand its distinctive features that separates it from it’s competitors. Could you elaborate on what sets GMX apart from other players in the space? What unique qualities define GMX and distinguish it from its competitors?
Hello GMX team, as I know Decentralized Exchanger (DEX) has smaller volume and less liquidity than large CEX, I found it will be difficult to match buyer and seller when trading volumes are low. So how will GMX as DEX try to manage this problem? Also can you please mention special feature from GMX DEX? Thank you
Hello GMX team!
Fundamental to nurturing an authentic and robust community, I prioritize Transparency and Security. Through my investigation into GMX, I uncovered a historical incident in September 2022 involving a $565K price manipulation ‘exploit.’ This exploit exploited GMX’s ‘minimal spread’ and ‘zero price impact’ features, adversely affecting GLP tokenholders who provided liquidity in AVAX (Avalanche token) to GMX. Hence, To ensure a secure platform, I am keen to understand the comprehensive security measures GMX has implemented and the validity of its security system to prevent a recurrence of such incidents or incidence alike from ever happening again.
Hello GMX team!
The future truly belongs to those who believe in the beauty of their dreams (Eleanor Roosevelt)”. Considering this philosophy, let’s delve into the future prospects of GMX. Recognizing GMX as a decentralized exchange protocol currently deployed on two basic EVM chains, Arbitrum and Avalanche, and acknowledging the widespread use of notable chains like Ethereum and Binance Smart Chain globally, I’m curious to learn if GMX has any future intentions to expand its ecosystem by incorporating additional blockchain chains in its Ecosystem?
I learn that GMX create a event name with GMX Arbitrum S.T.I.P that consist of Liquidity and trading incentives. Could you please describe what kind of incentives that trader will getting from this event? Also can you explain more detail about what is “GMX Grant Program” because im still confuse about the benefit of that program for trader?
Hello GMX Team
We know trading on decentralized perpetual exchange is not easy and one of the concerns of traders is liquidated position. When I learnt your project, GMX has the solution to reduce the liquidation risks. So, Could you tell us what’s the mechanism to reduce the liquidation risks ? How aggregate of high-quality price feeds would help reduce the liquidation risks ? Lastly, Can we add more collateral to help improve the liquidation price ? And, What will happen to all of the added collateral if the position is liquidated ?
Hello GMX Team
I see that GMX only provides 2 types of network chains, namely Arbitrum and Avalanche. Could you tell us why you guys prioritized Arbitrum and Avalance when developing the project ? What are the advantages of Arbitrum and Avalanche on Decentralized Perpetual Exchange if compared the usage with other blockchains ? Do you have a plan to add more networks to GMX ecosystem in the future ? Lastly, How about other users that haven’t added Arbitrum and Avalance network in their crypto wallet ? Do you have bridge feature as the solution for these users ? If yes, What networks that are available currently for bridging to GMX ?
Hello since GMX is a Decentralized perpetual Exchange, I am very curious to know about how many total token that user able to trade on GMX platform and how about the fee? Also did GMX already do partnership with other web3 project, if yes kindly to share what collaboration that GMX already did?
One of the 3 reward types for staking GMX includes the ETH/AVAX reward whereby rewards are generated from swap and leverage trading fees; what percentage of these fees will a Staker receive for each swap? Also, the GMX floor price in ETH and GLP has 50% of funds received through bond protocol; briefly explain the relationship between GMX flow price and the bond protocol?
Hello GMX Team!
While I was researching about GMX, I can across the “GMX X Arbitrum S.T.I.P incentives Program “. Kindly Shed more light on this program; How many $GMX perhaps $ARB tokens have been allocated for this course? How are the eligible participants for this program determined? Will active traders and Liquidity providers benefit from this incentive program? What is the nature of rewards that eligible participants will get? For how long will this program last and how can an interested user be part?
Hello GMX Team
Knowing that GMX offers a decentralized perpetual exchange, could you give a brief explanation of how the decentralized perpetual exchange works? What’s the maximum possible leverage that can be used by traders during trading? What varieties of tokens are being offered on the exchange? For a seamless trading experience, there is need for an accurate update of coin/token metrics and this is why most persons will prefer to trade on Centralized Exchanges instead as most DEX cannot offer real-time metrics causing some sorts of miscalculations and maybe losses for traders. In this regard, can you explain to us how GMX will provide real time price updates and faster on-chain executional speeds; what oracle(s) will GMX be integrating to make the trading experience on the DEX smooth and seamless? As compared to the trading fees on CEX’s, is GMX preferable for perpetual traders?
Hello GMX Team!
At the Moment, GMX is available on the Arbitrum and Avalanche networks both of which are a good choice. However, we can see the development of new blockchains in the crypto sphere regularly some of which includes Base, Scroll, Sei, Sui, Optimism, Zksync etc. Will GMX be limiting it’s reach to just the Arbitrum and Avalanche networks, perhaps you’d be expanding for Integration with other Layer 1 and Layer 2 chains? Can you share details regarding the next few plans of GMX, let’s say for the next 6months?
Good day,
I really do admire the passive income generation methods that some crypto projects offer so I was happy to have seen that GMX offers staking rewards. However, as mentioned in your docs, GMX offers three distinct kind of staking rewards; Escrowed GMX, Multiplier Points, ETH/AVAX Rewards. In a nutshell, explain the three types of staking rewards offered by GMX. What’s is the difference between all staking rewards offered ? Kindly give details as regarding the APR/APY offered by the staking rewards mentioned above. Let’s say I want to stake for a short while, which staking pattern will be suitable amongst all three mentioned above? Apart from staking, does GMX offers any other passive income generating methods?
Good day,
I really do love testing out new things and on seeing a DEX that supports perpetual trading, it really got me excited. I’d really love to test out the GMX perpetual DEX. How do I go about this? Are there any forms of registration/KYC required before using the platform? Does the DEX have an inbuilt wallet or is it possible to connect other wallets? What if I have tokens on other chains/networks order than Arbitrum or Avalanche, Does GMX have a bridge to help in this case (For Ex, will GMX allow me to bridge from ETH to ARB or AVAX)? Now, since you’ve built a great product that is in full support of decentralization, convince us that GMX will stand the test of time and remain credible over a long period of time.
GMX trading risk talked about exercising caution when interacting with any smart contract or blockchain application stating the vulnerabilities in smart contract codes; what assurance can GMX provide over similar exchange platform in the fight to mitigate these risks to its users? How effective has the testing and bug bounties methods used by GMX been in the fight against these risks? How is the collateral and profits by bridged or pegged tokens disbursed to these victims?
Good day,
I saw that GMX has a referral program in place. Since we know that the essence of referral programs is to attract more persons/users to the platform and incentivizing the whole process. Explain in details how the referral program works; what rewards will the referrer and the referee be entitled to after a successful invite? Another important thing is that newbies maybe invited to the platform and since we know how volatile and risky perpetual trading may be, what do you have in place to lower the learning and adaptation curve for newbies on GMX? Do you have a provision for social interaction channel or an avenue for newbies to copy trades of more expert traders so as to save them from huge losses.
Hello GMX, welcome to satoshi club.
Going through your website, I saw that you have a very simple swap which gives out a more Convenient swap from any supported asset into the position of your choice. My question is that, how simple will it be to swap across different blockchains and also is there any transaction fee?
The reduction in swap fees to 5-7 bps is significant. How does GMX plan to maintain a sustainable model with lower fees, and what considerations are taken into account to strike a balance between competitive fees and platform sustainability?
With Chainlink Data Streams, GMX V2 can now provide real-time pricing updates and faster on-chain transactions. How does this improvement impact the overall trading experience for users on the platform, especially in comparison to traditional centralized exchanges?
With the continual growth of the GMX ecosystem, including rising TVL and user adoption, how does the platform plan to address scalability challenges and maintain optimal performance, especially in the context of expanding to support new features and assets?
Let’s talk about $GMX tokenomics. At the moment, 9.2million $GMX tokens is in circulation with a total supply of 9.2million tokens and a maximum supply of 13.3 million $GMX tokens. Could you briefly explain why the total token supply (9.2million) is different from it’s maximum supply (13.3million), why is this so? Can you give us a breakdown of your tokenomics, as regarding the token’s allocation and distribution within the GMX ecosystem? In addition to this, what are the utilities of the $GMX tokens and what strategies will you be adopting to keep an healthy token price and avoid catastrophic dumps? How will you manage the pump and dump effects of whales, have you set a limit to the maximum and minimum buys/sales of the GMX tokens? Lastly, will the $GMX tokens serve any purpose in the governance system? Yes us how $GMX governance works as well as eligibility required for a user to be involved in the governance system. How is the voting weight being distributed so that too much of platform’s power wouldn’t be vested only on a few individuals?
On thing we for sure have to pay attention to is platform’s security. In the cryptoshpere recently there have been a spike in the frequency and intensity of Security breaches which in one thing that put investors/users in a state of fear. $GMX security report since launch have actually been impressive and I am eager to know how the GMX team will keep protecting the platform from eventual security attacks. Could you share with us your audit report? Furthermore, I saw that a bug bounty program is on, give details regarding how we can take part in this bug bounty as well as rewards attached to detecting a bug based on severity. Thanks
It cannot be over emphasised that the future of any project is highly dependent on the team’s relationship with it’s community. As a favorite saying quotes “community is the heart of any project”. I am eager to know how the GMX team will ensure a mutual relationship between them and the community members. How do you aim to keep the GMX community united and also attract more users to the community? What sort of community engagement Program do you have in place to keep the GMX community up, engaged and active? What channels have you created to get timely feedback from the community and also respond to these feedbacks in due time? Will the community have a say in deciding on what sorts of development that they do wish to see on the platform?
GMX V2 Delta-neutral Vaults Incentives: The remaining 50,000 $ARB will be used to incentivize the hello,
Going through the governance on your website I found out that the GMX V2 delta-neutral vaults is focusing on subsidizing the yields with $ARB for users who deposit assets. This is to foster the protocol’s growth, enhance liquidity, and support strategic objectives such as boosting TVL and GMX user activity on Arbitrum.
But my question is how do you intend to distribute this incentives and also having over 500users does it mean that every holder on the GMX V2 gets this incentives? Other than just holding the assets what are the other qualifications
Greetings GMX Team!
I have been following up your development since the announcement of this Ama via Satoshi Club. Although I’m already familiar with your project for a while now. I honestly noticed that you have an existing incentive program called S.T.I.P, of which the weekly epoch ended at about 00:00 UTC Wednesday, November, 14. I understood that the GM Liquidity Incentives was raised from 200k-300k Arb tokens for week 2 which will be distributed to liquidity providers at the end of the concluded epoch. In this note, Could you please shed more light on how the S.T.I.P works? Is there a minimum or maximum liquidity that is required for users as criteria to meet up with the S.T.I.P?
Understanding that GMX is actually a decentralized spot and perpetual exchange that supports low swap fees and low price impact trades, which is currently Live under Arbitrum and also Avalanche, kudos to the entire GMX team as you guys have done a remarkable Job in building up the GMX Protocol over time. As a good Arbitrum User, I happen to understand that On Tuesday, November 23, the Arbitrum Frontier kicked off – an incentivised campaign that allows interested users to familiarise themselves with many leading DeFi protocols on the Arbitrum layer-2 blockchain and Also get the opportunity of Securing Rewards as they do so. So, Could you please share some light on how both existing/new users might best utilize the opportunity of participating in this wonderful opportunity?. How does your team plans on utilizing the 12 million $ARB token that was allocated as incentive to support the growth of GMX?
Hello! GMX team
Can you elaborate on the strategic vision for token distribution between GMX, GM, and GLP in your ecosystem? How does the allocation of generated fees across these tokens impact liquidity provision, governance, and incentivization for users across both V1 and V2 markets, especially considering the recent GLP to GM migration and its effect on fee reduction through STIP incentives?
Considering the differential APRs across Arbitrum and Avalanche for GMX, GM, and GLP tokens, how do you foresee these varying rates impacting user behavior and the overall growth of your ecosystem? Additionally, what strategies are in place to maintain a balance between these incentives and the long term sustainability of the platform?
With the evolution of DeFi ecosystems, how do you anticipate adapting your tokenomics and fee structures to remain competitive and attractive for both new and existing users in the long run? Also, given the recent trends in interoperability and cross-chain functionality, what steps are being taken to explore partnerships or integrations that could enhance the accessibility and utility of your tokens and platforms across different blockchain networks? Lastly, can you delve deeper into the mechanisms ensuring fair governance and decision-making within your ecosystem, especially concerning token holders’ influence and the protocol’s development trajectory?”
With the evolution of DeFi ecosystems, how do you anticipate adapting your tokenomics and fee structures to remain competitive and attractive for both new and existing users in the long run? Also, given the recent trends in interoperability and cross-chain functionality, what steps are being taken to explore partnerships or integrations that could enhance the accessibility and utility of your tokens and platforms across different blockchain networks? Lastly, can you delve deeper into the mechanisms ensuring fair governance and decision-making within your ecosystem, especially concerning token holders’ influence and the protocol’s development trajectory?
In the aspects of Onboarding newbies to GMX, How to generate more income is what All newbies talks about! in crypto! And onboarding of new users seems to be a key challenge in the Crypto world. There have also been a long chain of High entry Barriers requirements for some specific Marketplaces in the cryptoshpre, Can you kindly share some materials for newbies In the financial world for effective learning and understanding what GMX is aimed about? Do you consider the biggest portfolio size within your platform as the best User? Or there are equal opportunities for everyone?
About the Tokenomix distribution of GMX, I saw that $GMX which happens to be the platform’s native token and currently doing well in the Marketplace, I learnt that the $GMX Token is the platform’s utility and governance token as well, I also noted that holding the $GMX token unlocks a variety of benefits. Can you tell us more on where we can purchase the GMX Token? What is the total supply of GMX and How many are currently there in circulation? Can you also talk about the reward system for holders of the $GMX Token? Is there a point system that we should know about?
Giving that this ama is going to be via a voice AMA system_ may we quickly know What the MISSION of GMX is? Can you tell us how your project is designed to build real benefits and investment return to the global community of crypto investors? I would appreciate it if you Can tell us How you would create positive impact on people and in the digital ecosystem using the power of blockchain technology?
Hello team GMX
while going through your docs I noticed that you have two(2) staking vaults the GMX v2 vault and the GLP vaults please what are the differences between this two(2)?do they have different staking criteria? what’s the maximum or minimum amount to stake for each vault?what are their vesting periods? kindly explain
Hello GMX Team!
Generally, project teams introduce dual token modes with a governance token and a reward token. Contrastingly, GMX has created three tokens, $GMX as the utility and governance token, and $GM and $GLP as liquidity provider tokens. I read that $GM provides liquidity V2 markets whereas $GLP provides for V1 markets. Why did you create separate tokens to provide liquidity for V1 and V2 markets? Can you briefly explain about the opportunities available for each token holder? It is clear $GMX holders can intervene in the governance. However, what about $GM and $GLP holders? From users’ side, are there any benefits of having this kind of token model instead of the popular dual token mode?
Thanks.
Hello GMX Team!
It caught my attention that users can get fee discounts and earn rebates through the GMX referral program. Can you provide more details on your referral system? According to the details you have provided, referees would receive a discount when they make trades and the referrer would earn rebates from their trading fees. How do you calculate the discount that each referee receives? What determines the percentage of the rebate from the total trading fee? Further, how many referral levels does GMX consider? Please let us know whether you have implemented a proper mechanism to identify and block fake referrals.
Thanks.
Hello GMX Team!
I am curious to know why you have created two versions of the same platform. As I understood from your documents, both are decentralized exchanges where users can trade without a username or a password. What are the differences between V1 and V2? Generally, newer versions offer better features. Is it correct regarding GMX? Is V2 a developed version? If yes, why do you still keep V1 without moving in to the new version? Can a single user trade on both V1 and V2? If it is allowed, can he link two accounts or should the funds be managed separately? Further, let us know whether you plan to create more versions in the future.
Thanks.
While reading I noticed that esGMX tokens that have been unstaked and deposited for vesting will not earn rewards.Can you explain the reason for that?it also states that when a user sells GMX or GLP tokens and would like to vest their esGMX rewards later on, they would need to re-buy the GMX or GLP tokens,will they have to buy at the current price or it will be sold out for a lower price since they’ve already traded for a long period of time? explain thanks
“Some markets may have an adaptive funding rate, this will be indicated when hovering over the funding rate of a market”. Can you give more information about this? What is an adaptive funding rate and how do you determine markets that have adaptive funding rate? How does this adaptive funding rate feature benefit the GMX platform and its users?
While going through your website, I noticed that the GMX platform has two versions, V1 and V2. Can you give more information about these? What are the unique features and differences between V1 and V2? Why did you decide to develop two versions of the GMX trading platform? If a trader wants to trade using the GMX platform, how does the trader determine which version to make use of?
I found out that there’s section for “Community projects” in the GMX ecosystem and there are already several interesting apps there. Can you give more information about this? As a developer, how can I add an app to the community projects section on the GMX ecosystem? What are the requirements a developer or the app should meet to be added to the community projects section? How do you regulate the kind of apps that can be added to this section in order to keep other users of the GMX ecosystem safe?
Greetings GMX Team!
This question concerns Escrowed GMX (#esGMX). You mentioned two use cases for #esGMX. First, it can be staked for rewards similar to regular #GMX. Is the staking process identical to that of #GMX, and do stakers receive rewards in #GMX or #esGMX? Second, #esGMX can be vested to become actual GMX tokens over a one-year period. What are the rules for the vesting process? Can #esGMX be withdrawn before one year, and how is the amount of #GMX each user receives calculated? Is the distribution in a 1:1 ratio? What’s the minimum #esGMX required to start vesting? Additionally, are there any short-term utilities for #esGMX?
Thank you.
Greetings GMX Team!
There’s no denying that regular audits enhance platform security. While reviewing audit reports, I noticed the latest audit for V1 (Quantstamp Audit) was conducted a year ago. Are there plans for a new audit, and what caused the delay? On the other hand, frequent audits for V2 were observed, but there’s a concern about delays in addressing issues. In the Certora Audit, six problems were identified, with only two resolved. High and medium severity issues remain unaddressed. What’s the reason for these delays, and how is platform security ensured with unresolved issues? When can we expect solutions for these problems?
Thank you.
Hello GMX from your site on the tokenomics, I saw that the GMX Rewards provide benefits for long term users of the protocol, these rewards come in the form of Escrowed GMX and Multiplier Points.
How Long do I have to be part of your project to be qualified for these rewards and How does the multiplier points works?
Greetings GMX Team!
I noticed GMX enables users to open positions through a simple swap interface. Is this feature common to both V1 and V2? While many platforms offer swapping, you emphasize GMX supports convenient swaps from any supported asset into users’ chosen positions. How does your swapping differ from similar features on other exchanges? What makes it “convenient,” and what specific features enhance this convenience? Additionally, could you provide a brief overview of supported assets for swapping? Is there a broad range of assets available, or is it limited to specific selections?
Thank you.
Greetings GMX.
I noticed from your website that you operate on two versions. V1 and V2. Upon further review o found out even the liquidity pool of the two versions are different. Please I want to know, what is the implications of having the two versions? What role does it play on your project? What are the challenges associated with having the two versions? Does it run in same manner as pancakeswap having two versions? And finally is there any preferred version among the two of them?
Why should I choose to open a perpatual trade on GMX and not on a CEX? Trading on a DEX may seem unsafe to many people. We may incur large losses due to reasons such as lack of sufficient liquidity and the price of the token not being determined correctly. There have also been hacks on many DEXs. How does GMX deal with such challenges and problems?
Is GMX truly decentralized? Could you please explain how governance works? Who can participate in governance and what are the conditions for this? Could you please explain in detail how the steps such as making a suggestion, putting it to vote, and participating in the vote take place? Can the community make decisions on all issues, or can it decide on limited issues?
Is there a referral program at GMX? Is it possible to earn money through a referral program? Could you please talk about the details of this? Are there limits to earning income through referrals? For example, how many people can join GMX through our referral? How do we benefit from reference income? Do we get paid for this, or do we just benefit from the fees as a discount?
Greetings GmX team and welcome to satoshi community.
I read that the major risk of GMX as a project is that its team is composed of fully anonymous contributors and Also seen by the developers of THORChain, GMX developers remaining anonymous gives the GMX project more of a decentralized protocol feel rather than an on-chain business and that may result to poor accountability of the projects fund if something was to go wrong, so what solution are you putting across to solve this issue so as to gain more trust among the investors on the projects accountability.
Thank you
I am curious to know more information regarding Multiplier Points. I read that we receive Multiplier Points every second at a fixed rate of 100% APR when we stake $GMX. Are these points offered along with the staking rewards or should we choose between staking rewards and multiplier points? Is there a minimum staking amount of $GMX to be eligible to receive the points? Please briefly explain about the utilities of these points. Can we convert them into $GMX, $esGMX or any other form? Are there any benefits for point holders, such as fee discounts and priorities, when they use your exchange?
Please do not consider this question.
I am curious to know more information regarding Multiplier Points. I read that we receive Multiplier Points every second at a fixed rate of 100% APR when we stake $GMX. Are these points offered along with the staking rewards or should we choose between staking rewards and multiplier points? Is there a minimum staking amount of $GMX to be eligible to receive the points? Please briefly explain about the utilities of these points. Can we convert them into $GMX, $esGMX or any other form? Are there any benefits for point holders, such as fee discounts and priorities, when they use your exchange?
Can you elaborate more on “GMX Floor Price Fund”? I have never heard about this kind of concept. Are you the first team to introduce this type of fund? What made you to create this floor price fund? Please explain about the benefits that GMX users get from this concept. According to your documents, as the floor price fund grows, it can be used to buyback and burn $GMX. In addition to this utility, what are the expenses related to this fund? Who has the authority to manage it? Can users intervene in the decisions related to the floor price fund? How do you maintain the transparency of the fund?
$GMX is the platform’s utility and governance token of GMX and I read that holding the token unlocks a variety of benefits. Please elaborate more on the benefits available for $GMX holders. In addition to governance rights, do they get any advantages when trading and investing on your platforms? To be considered a holder, what is the minimum amount of tokens one should have? Do aforementioned benefits differ according to the holding token amount?
Greetings GMX.
Going through your website I noticed that you have three tokens that your project operate on. The $GMX,$GM and $GLP. Each have the various role they play in maintaining the system, having different versions of operations (V1 and V2).
I’ve never seen such initiative before where a single project have three tokens running it’s project. So why did you decide to use three tokens? Isn’t it possible that a single token can be used to satisfy all the roles performed by each token? What is the advantage of having three tokens to one or maybe dual token?
What have you been able to achieve with the three token nature that you think you won’t have achieved with a single token? And finally what are the challenges of running on three tokens?
Welcome GMX team
I read that your project has three tokens $GMX, $GM and $GLP . I will like to know what’s the advantage of having three tokens over one token or two tokens in a project?
What inspired the choice of the three tokens in your project? what ways do the three tokens enhance the project’s performance or functionality?
Hello GMX. While researching on articles relating to your platform on LinkedIn, I came across a post that states “GMX: The Dark Horse of the Crypto Space”. Going to check it out I found out that the content is about how you were doing well in the bear market outperforming many of your peers in terms of total value locked and price action. This is a very interesting article and I want to hear it from the horse’ mouth. How were you able to achieve such feat? What are the challenges that GMX have faced during the bear market? What are your plans to achieve more and how can we participate?
Hello GMX team. I read that The GMX Grants Program is currently live. What is GMX Grants Program? Who can join here? How to apply? What is the purpose and function of this program? Are there any other important programs you are currently working on that you plan to announce in the future? Thanks.
Hello. What kind of incentives do you offer to raise liquidity? The liquidity you collect will make you a target of hackers. Many DEX and Defi platforms have fallen victim to hackers. How do you ensure the security of liquidity? Are you prepared for the possibility that users may suffer damage due to a hacker attack? For example, have you established a fund to compensate users for losses?
Hi GMX Team!
My question goes thus;
Firstly, can you pls tell us how the node distribution is being managed on GMX, and what safeguards are in place to prevent centralization of nodes that could compromise the decentralized nature of the exchange?
Secondly, Have GMX’s smart contracts undergone third-party security audits? And how transparent is GMX about the results of these audits?
Pls explain…
Lastly, concerning the native token, What is the role of the native token (if any) on the GMX platform, and how is it utilized? And How is the token distributed, and what incentives are provided for holding or using it?
Thanks!
Hi GMX team!
To have the in depth knowledge on this, can you provide insights into GMX’s dispute resolution mechanism in the event of trading discrepancies or disputes between users?
Also, what measures are in place to prevent or mitigate the impact of flash loan attacks on GMX?
In relation to that, How does GMX also handle liquidity during extreme market conditions or periods of high volatility?
Lastly, can users stake their assets on GMX, and if so, what are the incentives and rewards for staking?
Thanks!
Hello GMX team
To interact with GMX, there is need to connect our wallets since it’s a DEX (Perpetual Trading). Some users may have large amount of funds in their wallets hence there is need to provide maximum security for the GMX-Wallet connect interface because a successful security breach by hackers who are tirelessly looking for ways to exploit a network’s security will prove catastrophic for all investors both small and large investors. In this case, we’ve got to be convinced that our wallets’ funds will be protected at all cost. In a nutshell tell us how you avoid such a situation that may lead to the crumble of a project; we’ve seen similar cases of heavy security exploitation with projects like Ronin Network, Poly Network, FTX, Luna etc and it’s adverse effects on investors. Are we fully protected and insured on GMX?
From my trading experience, it is quite obvious that one of the main disadvantages of DEXs is the exact thing that makes them so unique: the lack of central authority. Many believe this can result in regulatory concerns and so do I. The lack of a KYC process or the ability to cancel a transaction complicates things. If an account is compromised or the private key is lost, users are typically unable to recover any lost data or assets. Refunds are not possible. Slow limit speeds and limited trading functionalities are also some disadvantages that I have personally observed with DEXs. My concern is regarding how GMX will position itself to provide a solution for the above mentioned issues, creating a suitable trading environment for all traders. Lastly, what’s your conviction that DEXs will indeed be the future of DeFi?
Hi team GMX!
In terms of security issues, What contingency plans does GMX have in case of unforeseen technical issues or disruptions to the platform?
Also, i will like to know how GMX stay abreast of technological advancements in blockchain and decentralized finance to remain competitive and innovative?
And lastly, can you elaborate on GMX’s approach to environmental sustainability, especially considering the energy consumption?
Thanks!
I am a developer and the interest I developed for GMX after going through the project’s outline opened my mind to an idea and It’ll be a pleasure to communicate this idea with the team. In this case, how do I go about submitting a proposal perhaps what channel will be the best to discuss this idea. Furthermore, do you have a forum for Devs to share and try out ideas that’ll further increase the project’s solidity? Kindly highlight what GMX has in place for users with different skills ranging from development to Graphic designs, Thread and content creation etc?
Hello,
On Going Through the GMX site feedback, some few and most recent negative feedbacks made by users includes liquidation issues, failure to add collateral to a long position and failure to close a position. The problem of liquidation particularly is very common with DEXs so I am quite eager to know about how GMX will control and manage liquidity. As regarding the glitches associated with with open and close of positions, what improvements have you made to fix this? Such glitches may may lead to loss of funds which will definitely discourage traders. Thanks
Greetings Gmx team and welcome to satoshi community.
Well one way to attract community members and to create massive adoption is by issueing rewards to community for participation
in activities and after reading the GMX docs stating that GMX Rewards provide benefits for long term users of the protocol and that these rewards come in the form of Escrowed GMX and Multiplier Points. Well what activities are there to participate in Gmx to earn this rewards and lastly what are “Escrowed GMX” and how can i use it to get regular GMX tokens? Are Escrowed GMX tradable or something.
Kindly clarify to the community so us to understand better about Gmx project.thank you
Greetings GMX team and welcome to satoshi community.
Well i read through Gmx docs to understand better about Gmx project and i came across a point that states querying of data and submitting of transactions is done through an RPC URL, and i was a bit confused and couldnt understand that statement. Well in a nutshell could you elaborate to us what is “RPC URL” And why submit transaction Through RPC URL and not through contract address.
Kindly tell us more about this for easier clarification
Thank you…
Hallo GMX team.
My questions is all about Gmx staking mechanism, well to be honest I am a newbie in this crypto space and I heard that staking generates more income to an investor in any project. Well after reading through your docs I found that each staked Escrowed GMX token will earn the same amount of Escrowed GMX and ETH / AVAX rewards as a regular GMX token. Well what’s the difference between Escrowed Gmx to regular Gmx? Which exchanges can I buy and stake Gmx tokens? What are the minimum and the maximum I can stake and lastly what’s the Apy for staking Gmx tokens? Thank you team Gmx
Hallo GMX team
We all know in any growth of every project it need to have global adoption well what strategy is Gmx project initiating to make sure the group is known globally, do you currently have any ambassadorship program for communities to apply for or any referral program that we can engage in to ensure the growth of Gmx and for more people to know more about Gmx. well if there is any way we can engage in this event kindly share links where we can participate and apply for this events. Thank you
GMX is the platform’s utility and governance token, holding the token unlocks a variety of benefits. can you tell us some of “these benefits” that comes with holding $GMX ? It’s there a maximum or minimum amount an individual can hold ? What are the staking pools available ?can you explain what “floor price fund “means? what are the staking pools available ?
Greetings GMX, my question is about the APP and how we can run the APP and if we have to leave from the GMX site, to use a third party website and on what network is it hosted and how would it be distributed? Is it possible that it has an application for known systems such as iOs and also Android or can we only run the App from a third-party website and why?
Is it possible that GMX, being a Decentralized Perpetual Exchange, allows users to trade perpetuals or futures without expiration without an intermediary through smart contracts? or what are its main characteristics and its objective? Do you aspire to become the new FTX by being a Decentralized Perpetual Exchange? In a brief explanation, what makes you different from other well-known exchanges?
I understand that GMX has managed to surpass Uniswap in trading commissions and has become an important competitor to the main established exchanges in the sector, such as Uniswap, but what has been the basis of GMX’s success and what does it offer to the satoshi club community, in addition to having a relatively low transaction fee and zero price impact, or the influence of a single transaction on the market price? Can you explain and convince us why we have to use GMX apart from other well-known exchanges like BitMEX or Binance that are pioneers in cryptocurrency perpetual trading?
Why do you have three tokens in your ecosystem and what is the function that each of them fulfills? which one works for utility and governance and how much is the accumulation percentage and what is the liquidity provider token for the markets and what is the percentage that accumulates and most importantly where can we buy the three tokens of their platform known as GMX, GP and GLP?
I’m curious about the rebranding journey. What sparked the shift from Gambit Financial to GMX and in what ways has it made GMX more versatile?Since the rebrand, what standout moments or achievements can you highlight? The expansion to Arbitrum and Avalanche caught my eye and I would love to hear more about that.
Excited to hear about the features that set it apart from the wellestablished players in the market.The roadmap mentions deploying on Coinbase Base and other chains. What are the strategy behind these choices and how do you think it will improve the overall user experience?
As a member of the Satoshi Club community
I am genuinely curious about what makes GMX stand out
Beyond the basics of low fees and zero price impact
I’m interested in how GMX caters specifically to the Satoshi Club community.
What features or initiatives make it a compelling choice for us?
$GMX: there’s been a lot of competitors in the space everyone offering Almost similar opportunity, The question here is, what’s $GMX going to do differently in terms of patnership, CEx listing, community engagement and basically liquidity preference in any market sentiment?
Will $GMX be modelled to AI industry in the future and reserve optimistic opportunities for it community members and inclusively a generative passive income for both retailers and institutional investors?
What upcoming developments or features can the community look forward to in the GMX ecosystem and how does GMX plan to involve and engage the community in shaping the future of the platform?
Can you elaborate on the factors influencing the calculation of rewards for staking, including the role of Escrowed GMX and Multiplier Points and how does the platform balance rewarding long-term holders while preventing excessive inflation?
What measures are in place to ensure the fair distribution of Escrowed GMX rewards among stakers, how does the platform address the potential impact of large holders on the market when Escrowed GMX is converted to GMX?
Good day,
GMX, as I understand is a DEX (that supports spot nd perpetual trading).
We know that there are quite a number of Flagship DEXs that performs the same perpetual trading functions as GMX and they include; Vela Exchange, DYDX exchange, Gains network, Mycelium and MUX protocol. Since all are perpetual trading DEXs, why should I choose GMX over the above listed Perpetual trading DEXs?
Clearly highlight the distinctive feature (s) that sets GMX apart and a better option from all other DEXs. If I am choosing GMX over the above mentioned alternatives, of what benefit and gains will it be to investors both in long and short investment terms?
Good day,
In Crypto, at large, there is need for preparation of a treasury/treasury Funds to effectively manage a company/project’s crypto currency holdings and transactions to ensure liquidity, minimize risks, and comply with regulatory requirements, all while optimizing financial operation. Could you give details on the calculation, allocation and management of the GMX treasury funds, identifying how these funds will be used within the GMX’s ecosystem. I am also interested in knowing about the platform’s general expansion plans; what more innovative features will be integrated with GMX’s ecosystem to make it a fortress for all. Blockchain, WEB, DeFi and crypto inclined individuals around the globe. In order to achieve the above mentioned goals, what strategies and globalization plans will GMX use in attaining the previously traded goals of globalization (what countries will you be reaching with the Globalization?)
can you please describe the goals and expected benefits of the GMX Perpetual Futures product? And please include a detailed explanation of how it will work and what sets it apart from other perpetual futures products.
Why did your project opt for a three-token model, and what advantages does it bring over a single-token structure? Could you elaborate on the specific roles and functions assigned to each token within the ecosystem? While diversification can offer benefits, it also introduces complexities. What challenges have your team encountered in managing and balancing the dynamics of three tokens, both in terms of user comprehension and market stability?
Given the intricacies of your project involving three tokens and two operational versions, how does your team prioritize and maintain security across this diverse ecosystem? Could you outline the specific security measures in place to safeguard against potential vulnerabilities or attacks on each token and operational version? Managing such complexity requires robust strategies. What role do audits, partnerships, or technological innovations play in ensuring the overall security and integrity of your project? Additionally, how does the team adapt and evolve security protocols in response to emerging threats or changes in the crypto landscape?
Thank you
How GMX, offering both spot and perpetual trading, distinguish itself from competitors like Uniswap and dydx? Can you highlight specific advantages or unique features that set your platform apart? Furthermore, could you elaborate on the user-friendliness of your interface compared to other DEXs in both spot and perpetual trading, ensuring a seamless experience for both novice and experienced traders?
How do partnerships play a pivotal role in advancing your GMX,and what strategic collaborations have you forged to enhance the ecosystem? Additionally, could you elaborate on the significance of community involvement in shaping the project’s roadmap and fostering a decentralized ethos? How does your team engage with the community, and what initiatives are in place to empower users in contributing to the evolution of GMX?
1. Can you provide more details on the multi-asset pools and how they function to earn liquidity provider fees?
2. How does the platform utilize Chainlink Oracles for dynamic pricing, and what measures are in place to ensure accurate pricing information?
3. Could you elaborate on the GMX token’s utility and governance features, and what benefits are unlocked by holding the token?
Good day,
From my findings, GMX’s latest development updates includes;
Adaptive funding being enabled for all markets, The first trading incentives distribution complete, GMX/Arbitrum Trading Incentives are live, Liquidity incentives are live, The GMX Grants Program is live and now accepting applications. Kudos on these recent achievements, I must say.
Could you briefly tell us about the recent updates mentioned above? Can traders now trade on-chain, non-custodial, with fees as low as that on CEXs, perhaps for top tier users? As regarding the live liquidity rewards, what’s the boost factor on APRs on GMX V2? Lastly, what positive impacts have been observed on GMX DEX’s metrics as a result of the recent development made in the platform?
From my trading experience, it is quite obvious that one of the main disadvantages of DEXs is the exact thing that makes them so unique: the lack of central authority. Many believe this can result in regulatory concerns and so do I. The lack of a KYC process or the ability to cancel a transaction complicates things. If an account is compromised or the private key is lost, users are typically unable to recover any lost data or assets. Refunds are not possible. Slow limit speeds and limited trading functionalities are also some disadvantages that I have personally observed with DEXs. My concern is regarding how Nuklei will position itself to provide a solution for the above mentioned issues, creating a suitable trading environment for all traders. Lastly, what’s your conviction that DEXs will indeed be the future of DeFi?