The Avalanche Foundation announced incentives worth $4 million for decentralized trading platform GMX.
The Avalanche Foundation is providing incentives worth $4 million in AVAX tokens for the decentralized trading platform GMX.
GMX is a decentralized exchange that offers spot and perpetual futures contracts on Avalanche and another scaling protocol, Arbitrum. GMX utilizes a different token model compared to other DEXs that aims to minimize impermanent loss for liquidity providers, which is a growing concern given that it has caused overThe caveat with GMX’s model is that instead of impermanent loss, liquidity providers take on the risk of losing capital if traders on GMX are profitable. When traders lose money or are liquidated, this generates fees that are paid out to liquidity providers for taking the other side of the trade.
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