GMX (GMX) Live Price and charts Today

What is $GMX token?

$GMX is the platform's utility and governance token. Holders can stake their $GMX on Arbitrum and Avalanche and receives three types of rewards:

• Escrowed GMX
• Multiplier Points
• ETH / AVAX Rewards

30% of fees generated from swaps and leverage trading are converted to ETH / AVAX and distributed to staked GMX tokens. If you are staking on Arbitrum you would receive ETH, if you are staking on Avalanche then you would receive AVAX. The GMX token has a floor price fund in ETH and GLP. It grows in two ways:

• GMX/ETH liquidity is provided and owned by the protocol, the fees from this trading pair will be converted to GLP and deposited into the floor price fund
• 50% of funds received through Olympus bonds are sent to the floor price fund, the other 50% is used for marketing

The floor price fund helps to ensure liquidity in GLP and provide a reliable stream of ETH rewards for all staked GMX. As the floor price fund grows, it can also be used to buyback and burn GMX if the (Floor Price Fund) / (Total Supply of GMX) is less than the market price, this would lead to a minimum price for GMX in terms of ETH and GLP.