# GMX token > GMX is the platform's utility and governance token. Staking GMX earns you a share of protocol fees — 27% of fees from leverage trading, liquidations, borrowing fees, and swaps are used to buy back GMX. Distribution of bought-back GMX is currently suspended; see [Staking](#staking) for details. For more on fee distribution, see [Fees](../trading/fees.md). GMX also grants [voting power](../governance/voting-power.md) in protocol governance. # GMX token GMX is the platform's utility and governance token. Staking GMX earns you a share of protocol fees — 27% of fees from leverage trading, liquidations, borrowing fees, and swaps are used to buy back GMX. Distribution of bought-back GMX is currently suspended; see [Staking](#staking) for details. For more on fee distribution, see [Fees](../trading/fees.md). GMX also grants [voting power](../governance/voting-power.md) in protocol governance. Escrowed GMX (esGMX) has historically been distributed as a staking and referral incentive. Learn more about esGMX on the [Rewards](./rewards.md) page. ## Token addresses - Arbitrum: [0xfc5A1A6EB076a2C7aD06eD22C90d7E710E35ad0a](https://arbiscan.io/token/0xfc5A1A6EB076a2C7aD06eD22C90d7E710E35ad0a) - Avalanche: [0x62edc0692BD897D2295872a9FFCac5425011c661](https://snowtrace.io/address/0x62edc0692BD897D2295872a9FFCac5425011c661) - Solana: [9wX6Qz1Y5YQe71dfnFYFfZYXZhKqjYKQwdqfrRkmYUSX](https://solscan.io/token/9wX6Qz1Y5YQe71dfnFYFfZYXZhKqjYKQwdqfrRkmYUSX) GMX can be bridged between Arbitrum and Avalanche using [Stargate](https://stargate.finance/bridge?srcChain=arbitrum&srcToken=0xfc5A1A6EB076a2C7aD06eD22C90d7E710E35ad0a&dstChain=avalanche&dstToken=0x62edc0692BD897D2295872a9FFCac5425011c661). For bridging between other chains, you can use [Jumper Exchange](https://jumper.exchange/). ## Buying GMX You can buy GMX from the [Earn portfolio](https://app.gmx.io/#/earn/portfolio) page. ## Staking Staking GMX earns you a share of protocol fee buybacks. 27% of protocol fees are used to buy back GMX on the open market through a mechanism approved by the DAO [Tally vote](https://www.tally.xyz/gov/gmx/proposal/81921330482579592877925554009800798217173652653143694483196169672340561914053). :::note GMX staking rewards are suspended. Bought-back GMX accumulates in the Treasury and will be distributed to stakers when GMX reaches $90. Your share is based on [staking power](./rewards.md#staking-power), which accrues continuously based on the amount staked and the duration of staking. ::: You can stake GMX on the [Earn](https://app.gmx.io/#/earn) page. For programmatic access to staking power data, use the [`fetchStakingPower()`](../sdk/v2/readme.md#methods) method in SDK v2 or the GMX API `/staking/power` endpoint. Unstaking GMX or esGMX on Arbitrum and Avalanche takes 180 days: you submit a request, wait, and then withdraw. For how requests work and how they affect staking power, see [Unstaking](./rewards.md#unstaking). ### Staked GMX token addresses After staking GMX, you receive a Staked GMX token. The balance of this token reflects your total staked amount, including any esGMX tokens. - Arbitrum: [0xd2D1162512F927a7e282Ef43a362659E4F2a728F](https://arbiscan.io/token/0xd2D1162512F927a7e282Ef43a362659E4F2a728F) - Avalanche: [0x4d268a7d4C16ceB5a606c173Bd974984343fea13](https://snowtrace.io/address/0x4d268a7d4C16ceB5a606c173Bd974984343fea13) ## Treasury The GMX treasury is funded by: - Fees from the GMX/ETH protocol-owned liquidity - 8.8% of V2 fees (10% is allocated to Chainlink, the treasury, and keeper costs, of which 1.2% goes to Chainlink) The treasury is held in multiple contracts: - DAO Treasury: [0x4bd1cdAab4254fC43ef6424653cA2375b4C94C0E](https://www.tally.xyz/gov/gmx/treasury) - POL Multisig: [0xc6378ddf536410c14666dc59bc92b5ebc0f2f79e](https://debank.com/profile/0xc6378ddf536410c14666dc59bc92b5ebc0f2f79e) - Governance Committee: [0x0263ad94023a5Df6d64f54BFEF089F1FBF8A4CA0](https://debank.com/profile/0x0263ad94023a5Df6d64f54BFEF089F1FBF8A4CA0) - Bond Protocol: [0xea8a734db4c7EA50C32B5db8a0Cb811707e8ACE3](https://debank.com/profile/0xea8a734db4c7EA50C32B5db8a0Cb811707e8ACE3) - GM Holdings: [0xe1f7c5209938780625e354dc546e28397f6ce174](https://debank.com/profile/0xe1f7c5209938780625e354dc546e28397f6ce174) - [0x68863dDE14303BcED249cA8ec6AF85d4694dea6A](https://debank.com/profile/0x68863dDE14303BcED249cA8ec6AF85d4694dea6A) - [0x0339740d92fb8BAf73bAB0E9eb9494bc0Df1CaFD](https://debank.com/profile/0x0339740d92fb8BAf73bAB0E9eb9494bc0Df1CaFD) - [0x2c247a44928d66041d9f7b11a69d7a84d25207ba](https://debank.com/profile/0x2c247a44928d66041d9f7b11a69d7a84d25207ba) The GMX DAO owns protocol-owned liquidity in the form of Uniswap V3 NFT LP tokens: - [0x4bd1cdAab4254fC43ef6424653cA2375b4C94C0E](https://arbiscan.io/token/0xc36442b4a4522e871399cd717abdd847ab11fe88?a=0x4bd1cdAab4254fC43ef6424653cA2375b4C94C0E#inventory) If required, the treasury may be used to pay for issues submitted through the [bug bounty](../security.md#bug-bounty). ## Token supply The supply of GMX can be viewed on the [Dashboard](https://app.gmx.io/#/dashboard). The increase in circulating supply varies depending on the number of tokens that are vested. The forecasted max supply is 13.25 million GMX tokens. Minting beyond this cap requires a governance vote approved by GMX token holders. ### Supply allocation - 6 million GMX: [XVIX](https://xvix.finance/) and [Gambit](https://gambit.financial/) migration. GMX was formed by a merger of the XVIX and Gambit communities. - 2 million GMX: Paired with ETH for liquidity on [Uniswap](https://app.uniswap.org/#/swap?inputCurrency=ETH&outputCurrency=0xfc5A1A6EB076a2C7aD06eD22C90d7E710E35ad0a). - 2 million GMX: Reserved for vesting of [escrowed GMX](./rewards.md#escrowed-gmx) tokens. - 2 million GMX: For the treasury. - 1 million GMX: For integration incentives and community developers. - 250,000 GMX: Distributed to contributors linearly over 2 years.
Circulating supply calculation The supply displayed on the dashboard is the [total minted GMX tokens](https://arbiscan.io/token/0xfc5A1A6EB076a2C7aD06eD22C90d7E710E35ad0a) minus the tokens held in [vesting](./rewards.md#escrowed-gmx), bonding, and treasury contracts: - GMX Bonds (Arbitrum): [0xea8a734db4c7EA50C32B5db8a0Cb811707e8ACE3](https://arbiscan.io/address/0xea8a734db4c7EA50C32B5db8a0Cb811707e8ACE3) - GMX Vester (Arbitrum): [0x199070DDfd1CFb69173aa2F7e20906F26B363004](https://arbiscan.io/address/0x199070DDfd1CFb69173aa2F7e20906F26B363004) - GLP Vester (Arbitrum): [0xA75287d2f8b217273E7FCD7E86eF07D33972042E](https://arbiscan.io/address/0xA75287d2f8b217273E7FCD7E86eF07D33972042E) - Affiliate Vester (Arbitrum): [0x7c100c0F55A15221A4c1C5a25Db8C98A81df49B2](https://arbiscan.io/address/0x7c100c0F55A15221A4c1C5a25Db8C98A81df49B2) - Treasury (Arbitrum): [0x68863dDE14303BcED249cA8ec6AF85d4694dea6A](https://arbiscan.io/address/0x68863dDE14303BcED249cA8ec6AF85d4694dea6A) - GMX Vester (Avalanche): [0x472361d3cA5F49c8E633FB50385BfaD1e018b445](https://snowtrace.io/address/0x472361d3cA5F49c8E633FB50385BfaD1e018b445) - GLP Vester (Avalanche): [0x62331A7Bd1dfB3A7642B7db50B5509E57CA3154A](https://snowtrace.io/address/0x62331A7Bd1dfB3A7642B7db50B5509E57CA3154A) - Affiliate Vester (Avalanche): [0x754eC029EF9926184b4CFDeA7756FbBAE7f326f7](https://snowtrace.io/address/0x754eC029EF9926184b4CFDeA7756FbBAE7f326f7)
## Ethereum bridging GMX tokens can be bridged between Ethereum and Arbitrum using the Arbitrum bridge. Bridging from Arbitrum to Ethereum has a 7-day waiting period during which you don't have access to your tokens. All GMX features are on Arbitrum, so there is rarely a reason to bridge to Ethereum. For step-by-step instructions, see [this bridging guide](https://gist.github.com/xvi10/6125b5fbd73f12a2bfce9b729a52255a). ## Next steps - [Rewards](./rewards.md) — Learn about esGMX, vesting, and managing rewards. - [Voting power](../governance/voting-power.md) — Participate in protocol governance. - [Fees](../trading/fees.md) — Understand how trading fees are generated and distributed. - [Earn page](https://app.gmx.io/#/earn) — Start staking GMX.