O que significa gmxol exhange?
O que significa gmxol exhange?
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Another feature of GMX is its use of price oracles to both empower trades and hedge against liquidation risk. Utilizing Chainlink and other price feeds to get accurate pricing data for the various assets in its pool, GMX is able to pinpoint when liquidations occur, protecting users’ positions.
The second token, GLP, represents the index of assets used in the protocol’s trading pool. GLP coins can be minted using assets from the index, such as BTC or ETH, and can be burned to redeem these assets. GLP holders provide the liquidity traders need to get leverage. This means they book a profit when traders take a loss, and they take a loss when traders book a profit.
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Currently, the project is being considered a competitor of other names like dYdX, Perpetual, MCDEX,… The project's tokenomics is also very special, I will talk about it in more detail in the next section.
This beta release uses a similar oracle system to GMX V1, as the contracts have been tested and audited based on this system.
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With this structure, the GLP pool’s return shrinks as traders make profits and grow when traders make losses and trade more frequently.
Additionally, collateral and profits may be backed by bridged or pegged tokens which may not be guaranteed to maintain peg.
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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 https://gmxsol.pro/ continue to Observe.
Leveraging allows futures contract traders to place their bets with amounts higher than their collateral. For instance, a trader who enters a 10X leveraged futures contract position can place a $100 bet on an asset using a $10 collateral.
Due to borrowing and funding fees, your liquidation price is not static. Especially if you use leverage greater than 10x and have the position open for more than a few days, it's crucial to actively monitor your liquidation price.
The fund grows thanks to fees accrued through the GMX/ETH liquidity pair; it’s also supported by OlympusDAO bonds.