GMX is the platform's utility and governance token, holding the token unlocks a variety of benefits.
GMX Token Address
- Arbitrum: 0xfc5A1A6EB076a2C7aD06eD22C90d7E710E35ad0a
- Avalanche: 0x62edc0692BD897D2295872a9FFCac5425011c661
Steps to purchase GMX can be found on the Buy page.
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.
- Arbitrum: 0xd2D1162512F927a7e282Ef43a362659E4F2a728F
- Avalanche: 0x4d268a7d4C16ceB5a606c173Bd974984343fea13
Floor Price Fund
The GMX token has a floor price fund in ETH and GLP. It grows in two ways:
GMX/ETH liquidity is provided and owned by the protocol, it receives fees in ETH and GMX that are accumulated as the floor price fund.
50% of funds received through Bond Protocol are kept for the floor price fund, the other 50% is used for marketing.
The current floor price fund is viewable on the Dashboard.
As the floor price fund grows, it can be used to buyback and burn GMX if the (Floor Price Fund) / (Total Supply of GMX) is less than the market price, this would lead to a minimum price for GMX in terms of ETH and GLP.
The current floor price fund is held in multiple contracts, these will be gradually consolidated into a single contract:
Contracts holding the Uniswap V3 NFT LP tokens for fees as well as GLP tokens:
If required, the floor price fund 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.
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.
- GMX Bonds (Arbitrum): 0xea8a734db4c7EA50C32B5db8a0Cb811707e8ACE3
- GMX Vester (Arbitrum): 0x199070DDfd1CFb69173aa2F7e20906F26B363004
- GLP Vester (Arbitrum): 0xA75287d2f8b217273E7FCD7E86eF07D33972042E
- GMX Vester (Avalanche): 0x472361d3cA5F49c8E633FB50385BfaD1e018b445
- GLP Vester (Avalanche): 0x62331A7Bd1dfB3A7642B7db50B5509E57CA3154A
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.