Rewards are distributed to white hat hackers based on the severity of the vulnerability. This bounty program focuses on preventing Direct theft of any user funds, Permanent freezing of funds, Insolvency, Unable to call smart contracts, etc., and much more. Here is a quick table for reference:

To trade perpetual contracts on GMX, users first select the trading pair they wish to trade and choose whether to go ‘Long’ or ‘Short’ based on their market predictions. Next, they set the parameters of their trade, including the asset used as collateral, the amount they wish to pay, and the asset they are betting on.

A leading decentralized perpetual protocol has not exactly been established yet in my opinion. Interest in the copyright market is manifestly fading in the midst of the current bear market.

GMX.io is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. It has around 90K total users. This article will give us a complete understanding of the GMX.io platform.

So why would traders still want to use the GMX protocol for trading? Because the market depth of GMX is excellent, and there are pelo slippage problems. Because the profit of trading is from the spread trading, using the order book trading or AMM liquidity pool trading will be due to a large amount of buying or selling to increase costs or reduce profits, but through the GLP liquidity pool to open.

GMX tokens can be purchased on decentralized exchanges such as Uniswap or SushiSwap. For this guide, we’ll use GMX as an example. Visit the GMX app website website, connect your wallet and click on “Swap” to start trading.

Total staking value has topped $400 million and cumulative trading volume has surpassed $55 billion in the year since the GMX protocol was developed, making it the third-largest decentralized exchange on Arbitrum after Uniswap and Curve.

The total number of coins that will ever be created for the copyright, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.

GMX users can “long” or “short” up to 30 times the size of their collateral by borrowing funds from a large liquidity pool.

Image Credit: @crypto_noodles A study by Twitter user @crypto_noodles found that retail traders accounted for 31.5% of ETH perpetual volume on the protocol — the highest of all DeFi perpetual protocols analyzed likely due to the concentrated liquidity.

The fallout and subsequent fear of insolvency in other centralized exchanges (CEXs) resulted in copyright users flocking in masses to decentralized exchanges (DEXs) for increased transparency and control over their funds.

As the GMX protocol continues to evolve, the release of Version 2 (V2) has introduced numerous innovations and improvements. V2 enhances trading efficiency and user experience by incorporating new features and optimizations. For instance, the trading mechanism in V2 has been refined to reduce transaction costs while improving capital efficiency.

With its permissionless accessibility and leveraged trading offering, GMX combines the experience of both decentralized and centralized exchanges, showing that DeFi protocols are still breaking new ground every day. The protocol’s trading volume has more than tripled in the past two months and now ranges between $290 million and $150 million daily, indicating growing interest among copyright natives.

Still, like a master contract trader, winning all the money on the platform is theoretically possible, but it is almost impossible. In retrospect, most market participants have lost, and the investors must carefully weigh returns against other potential crises before deciding to participate in an investment.