Is GMX a decentralized exchange?

Crypto traders have a wide range of decentralized exchanges to choose from, whether they want to trade spots or derivatives. GMX is one of the more recent additions to the DEX landscape. But does GMX stand apart from the rest?

What is arbitrum GMX?

Arbitrum provides GMX with the performance to operate a low latency, high throughput derivatives exchange that traders expect. In 2022, GMX launched on Avalanche and with that brought more users, more revenue and ultimately more opportunities for the protocol to grow outside of Ethereum and L2.

What does GMX stand for?

GMX is a decentralized exchange (DEX) focused on spot and perpetual trading. It launched on Arbitrum, an Ethereum layer-2 network, in September 2021. Before migrating to Arbitrum, GMX went by the name Gambit Financial. Gambit was a DEX on the BNB Smart Chain, previously Binance Smart Chain.

How many users does GMX have per day?

The Arbitrum version of GMX is currently seeing around 1,000 active users per day and roughly 300 new unique traders per day ,which is what some other protocols are seeing in a month. GMX adopts a two-token model with GMX and GLP. GMX acts as a governance token as well as access to the fee sharing model that GMX offers stakers.