GMX: score, security record and what it is for

75/100SCORE · BTrusted Grade B, very good

GMX offers perpetuals with zero price impact by trading against a shared liquidity pool. It has no core exploit on record. Liquidity providers effectively take the other side of trader profit and loss, which is the part people miss.

The facts

LIVE SINCE: 2021
TYPE: Perpetuals, pooled liquidity
CHAINS: Arbitrum, Avalanche
SWAP FEE: Around 0.05 to 0.07 percent open and close, plus borrow fees.
AUDITS: Audited.
WHO CAN CHANGE IT: GMX token governance.

How the score breaks down

security22/30

liquidity18/25

chains10/15

costs13/15

decentralisation12/15

Where it is strong and where it is not

✓ Strengths

Zero price impact trading against a shared liquidity pool
Real yield paid to liquidity providers
No core exploit on record
Established on Arbitrum

✗ Weaknesses

Liquidity providers take the other side of trader profits
Borrow fees make long holds expensive
Two chains only

Exploit history

No exploit of the core contracts on record.

Our read

A well established perpetuals venue with a clean core record. Understand that as a liquidity provider you are counterparty to the traders, which is not obvious from the interface.

BEFORE YOU SWAP

Swap keeps failingSlippage, approvals, taxes and thin liquidity. Revoke approvalsEvery swap leaves a permission behind. Clear them. Gas tokensWhy you need the chain's native coin first. Pick a walletYou need self custody before you can use any DEX.

RISK WARNING Crypto assets are highly volatile and largely unregulated. You can lose everything you put in. Nothing on this page is financial, investment or tax advice, and nothing here is a recommendation to buy or sell any asset. Do your own research and never commit money you cannot afford to lose.