Flash Bounty: GMX Protocol Overview
What is the Arbitrum network?๐
> The Arbitrum One network is a rollup on the Ethereum network. Arbitrum is the most successful scaling solution currently active in the Ethereum network; This EVM compatible network currently hosts more than 2.5 billion funds. With the roll-up development approach of the Ethereum network, Arbitrum can play one of the most important roles in this direction. By aggregating transactions and executing them off-chain, Arbitrum greatly lowers the cost of each transaction. However, data related to transactions (Data Availability) is recorded in layer one, so for any external observer, the results are reproducible and can be ensured.
What is the purpose of Arbitrum network?๐
> ## The purpose of creating the Arbitrom network (and other rollups) is to solve the scalability problem of the Ethereum network. Blockchains seek to establish three features: scalability, decentralization and security. The conclusion we reached in the world of digital currencies over the past decade was that it is very difficult (if not impossible) to establish all three of these features in one network. Therefore, each network seeks to solve one of the missing sides in its own way; The base layer of the Ethereum network, which has two features of security and decentralization, is left to solve the problem through roll-ups. The increasing demand for Ethereum network block space has made the network more expensive (gas cost) in recent years. Arbitrum and other layer 2 utilities can greatly reduce the pressure by increasing the capacity of this network.
> # What is the GMX platform?๐
> The most important feature of Dex is their decentralization; This means that the management of each person's assets is his responsibility, and there is no third party or institution that supervises the transactions. This makes more users willing to use decentralized exchanges, so that the volume of transactions of these exchanges reached its peak in 2021. One of the reasons why users choose centralized exchanges is the possibility of making profitable transactions. The GMX platform is one of the decentralized exchanges that has provided this possibility to its users. GMX is one of the largest permanent trading platforms with very low fees. JMX is a decentralized platform for transactions with very low fees and zero Price Impact, which allows users to make perpetual transactions. Users can increase their trading power up to 30 times or in other words use 30X leverage . This platform was first launched on Arbitrum in 2021 and then moved to Avalanche network in 2022. Transactions in GMX are funded by a multi-asset liquidity pool. The reward of the liquidity providers of these pools is obtained from market makers, swaps transactions and leveraged transactions. What sets GMX apart from its competitors is the various benefits for GMX currency holders, pool liquidity providers, as well as the platform's inflation-free token economy.


Method๐ฃ
- the number of liquidated transactions by the index toke
- the number of wallet addresses that got liquidated weekly
- the number of wallet addresses that got liquidated - 30 days
- the number of wallet addresses that got liquidated - 90 days
- Total Swap - 30 days
- Total Swap Volumes - 30 days
- Total Unique Trade - 30 days
- Total Swap - 90 days
- Total Swap Volumes - 90 days
- Total Unique Trade - 90 days
- total fee - 30 days
- total fee - 90 days
- Number of Transfers - 30 days
- Number of Transfers - 90 days
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From above stats, we can see that there are total like 110.7M in $USD for the GMX Swap volumes for the last 30 days that coming from 16.56k of unique traders and 43k of swap transactions
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in 90 days( total unique trade 37.1k , total swap volumes 217m , total swap 104.5k)
- the number of liquidated transactions by the index toke :
1**.WETH.e : 45.5% (269)**
- WAVAX : 35.3% (201)
- WBTC.e : 18.6% (106)
- others : 0.52% (3)
- The highest fees in 30 days were on September 6, and the highest expenses in 90 days were on Jun 29.
๐ดConclusion๐จ๐ปโ๐ซ
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The GMX exchange is one of the largest decentralized exchanges for permanent transactions. In addition to spot transactions, this exchange has provided its users with leveraged transactions and can increase their purchasing power up to 30 times. GMX uses a multi-asset pool for its transactions
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One of the best long-term investment methods in the crypto market is providing liquidity in decentralized exchanges.
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Since the launch of GMX, we have seen a lot of progress in this project. The platform added the Avalanche network in mid-2021. The previous version of GMX is called Gambit, which is on Binance Smart China. The trading volume of this platform increased from 150 million to 13 billion dollars, and more parts such as stop limit were added to the trading system.
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