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GMX Token

GMX is the platform's utility and governance token, holding the token unlocks a variety of benefits.

Token Information

GMX Token Address

Buying GMX

Steps to purchase GMX can be found on the Buy page.

Staking GMX

Staked GMX receives three types of rewards:

  • Escrowed GMX
  • Multiplier Points
  • ETH / AVAX Rewards

For more information on Escrowed GMX and Multiplier Points please see the Rewards page.

The ETH / AVAX Rewards are from swap and leverage trading fees, if staking on Arbitrum you would receive ETH, if staking on Avalanche then you would receive AVAX.

GMX can be staked using the Earn page.

Staked GMX Token Address

After staking GMX you will receive a Staked GMX token. Note that the balance for this token will return your total staked amount including any esGMX tokens and Multiplier Points.

Treasury

The GMX treasury is accumulated from the following:

  • Fees from the GMX/ETH protocol-owned liquidity

  • Funds received through Bond Protocol

  • 10% of GMX V2 fees

The current treasury is held in multiple contracts, these will be gradually consolidated into a single contract:

Contracts holding the protocol-owned liquidity in the form of Uniswap V3 NFT LP tokens:

If required, the treasury may be used to pay for issues submitted through the Bug Bounty.

GMX Token Supply

The supply of GMX can be viewed on the Dashboard.

The increase in circulating supply will vary depending on the number of tokens that get vested.

The forecasted max supply is 13.25 million GMX tokens. Minting beyond this max supply will only occur if there is a requirement for it. This requirement must be voted on and approved by GMX governance before it would be permitted.

Supply allocation:

  • 6 million GMX: XVIX and Gambit migration. GMX was formed by a merger of the XVIX and Gambit communities.

  • 2 million GMX: Paired with ETH for liquidity on Uniswap.

  • 2 million GMX: Reserved for vesting of Escrowed GMX tokens.

  • 2 million GMX: For the floor price fund.

  • 1 million GMX: To be used for integration incentives and community developers.

  • 250,000 GMX: Distributed to contributors linearly over 2 years.

The supply in the dashboard is calculated based on the total minted GMX tokens minus the tokens in vesting and bonding contracts:

Bridging

GMX tokens can be bridged between Ethereum and Arbitrum, but you should not use this unless absolutely necessary. All features are on Arbitrum so there should be no strong reason to bridge tokens. If you bridge tokens from Arbitrum to Ethereum there will be a 7 day waiting period during which you will not have access to your tokens.

Instructions to bridge: https://gist.github.com/xvi10/6125b5fbd73f12a2bfce9b729a52255a.

For bridging between Arbitrum and Avalanche you can use Synapse.