00:00Let's talk about GMX and the Decentralized Perpetual Futures platform that has an AMM liquidity model, the GLP vault mechanics.
00:09Let's also talk about the security governance and how GMX compares to DY, DX, Hyperliquid, AVO and centralized futures exchanges.
00:19So let's also talk about why GMX still matters in 2026 because it did have a buzz and it kind of just went under the radar during the bear market.
00:28It's one of the most important protocols in history of DeFi, right?
00:33While many DeFi exchanges have actually come and gone, it has achieved something that once was kind of considered impossible, which is kind of sustainable, large scale perpetual futures trading without an order book, without custodial risk and without reliance on centralized intermediaries.
00:50So they still remain kind of the reference implementation for AMM based perpetuals, a cornerstone of derivatives in liquidity in DeFi and also protocol widely cited by researchers, competitors and also a benchmark which is measured against the new PEP DEXs.
01:09So it's a non-custodial decentralized futures exchange, allowing users to trade crypto assets with leverage directly against the liquidity approval rather than through a traditional order book, right?
01:20So it's fully permissionless, self-custodial, no KYC is involved here and there's no other book AMM style liquidity, automated market maker that is and it operates primarily on Arbitrum and Avalanche and it has processed hundreds of billions of dollars in cumulative trading volume,
01:39making it one of the most successful DeFi derivatives protocols that has ever been deployed out there and what makes it kind of unique is the liquidity architecture instead of matching buyers and sellers, relying on market makers and maintaining order books.
01:53They've really kind of designed it to interact with a single liquidity pool vault GLP, which takes the opposite side of trades designed dramatically kind of to simplify execution, liquidity provisioning and risk distribution
02:08and also removes entire classes of problems that plague auto book DEXs, right?
02:13So at the heart of GMX is the GLP vault, which is really a liquidity provided token that represents a diversified basket of assets used as counterparty liquidity for traders and GLP holders also and a share of trading fees take the opposite side of the trader P&L and are exposed to diversified crypto index.
02:35This matters because the design aligns incentives, traders get predictable liquidity, liquidity providers get yield and the protocol remains solvent, which is quite important.
02:49And when it comes to trading perpetual futures, you can long and short, you can obviously the asset is leveraged depending on asset, no funding rate volatility like on centralized exchanges.
03:00It's Oracle based pricing and predictable execution markets typically include BTC or ETH major one layer, layer ones, for example, and select high liquidity assets intentionally avoiding those thin speculative listings.
03:15So no spot trading, so no spot trading, and this is by design to keep the protocol simple and reduce attack surface.
03:22The fees are also very interesting.
03:25Typical fees, position opening, closing fees, swap fees, liquidation penalties, no maker taker fees, no hidden spreads and no withdrawal fees beyond your gas.
03:35Liquidity slippage also design means zero order book slippage, predictable execution, consistent pricing.
03:41And the risk engine uses conservative leverage limits as well as Oracle based pricing, like I said.
03:48So it's quite secure, undergone multiple audits, operated for years without any catastrophic hacks.
03:56Geo MX token is also available, which governs the protocol parameters, the fee distribution, asset weights, etc.
04:03You can trade it on many, many different exchanges.
04:06Links are all in the description.
04:08We've also done a comparative analysis of it with the Hyperliquid AVO, like I said, Binance Futures.
04:13You can check it out in the actual description in the link to the full review.
04:17And you can see what our final verdict hit, but we did give it a 9 out of 10, which is pretty good.
04:23We also have a KY FAQ section at the end if you want to learn more.
04:27So go check it out, GMX.
04:28If you want to get started trading with GMX, the link is in the description.
04:32Use it so you can get some awesome bonuses and discounts as well.
04:35Peace.
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