{"id":6799,"date":"2024-12-14T23:00:00","date_gmt":"2024-12-14T23:00:00","guid":{"rendered":"https:\/\/usetokenpay.com\/?p=6799"},"modified":"2025-08-31T12:14:09","modified_gmt":"2025-08-31T12:14:09","slug":"gmx","status":"publish","type":"post","link":"https:\/\/usetokenpay.com\/en\/gmx\/","title":{"rendered":"GMX \u2013 Not an email platform, but a crypto exchange"},"content":{"rendered":"<p><em>Founded: 2021<\/em><\/p>\n\n\n\n<p>GMX combines the advantages of a decentralized exchange with the capabilities of a centralized exchange, offering its customers high-risk trading opportunities such as leveraged investments. The difference between decentralized and centralized exchanges lies in their fundamental structure and the resulting possibilities. A decentralized exchange typically operates with the existing liquidity of the trading pair and determines the price based on the ratio between, for example, dollars and Bitcoin. When someone sells, they deposit Bitcoin into the exchange and receive dollars; thus, the ratio changes, and the price is adjusted accordingly. A decentralized exchange therefore has no order books or fixed trading hours; trading can take place continuously, 24\/7, against the available liquidity. An order book is the system in which customers&#039; buy and sell orders are collected and then matched. <br>A centralized exchange always operates with order books and may have a small liquidity reserve of its own for balancing purposes, as well as liquidity partners for larger transactions \u2013 the price is not determined indirectly as with decentralized exchanges, but directly through supply and demand. Specifically in the crypto sector, even centralized exchanges do not have fixed trading hours, unlike with stocks, as they must adapt to decentralized trading capabilities.<\/p>\n\n\n\n<p>GMX, in combination with its native token, offers a user-friendly way to participate in trading major cryptocurrencies directly from one&#039;s own wallet, with a particular focus on leveraged trading. GMX offers a maximum leverage of 100x, meaning that the buyer of such a leveraged product can multiply their capital by a factor of 100. So, if they buy one Bitcoin with 100x leverage, they are essentially buying 100 Bitcoins. This is a bet on price increases, which can be extremely lucrative even with small upward movements, but is equally lucrative in the event of a price drop. However, like most other exchanges, GMX liquidates the trade if it falls below a certain threshold, preventing the user from entering the negative range of their credit line \u2013 something that would be impossible with a decentralized wallet.<\/p>\n\n\n\n<p>GMX also serves as a governance token within the ecosystem, thus structuring investor participation. Furthermore, 30% of the trading fees are distributed to GMX holders. In addition to the GMX token, there is the so-called GLP token for providing trading liquidity. Users can use this token to provide liquidity and receive the remaining 70% of the trading fees as a return. According to GMX, they were able to generate \u20ac3.1 million in fees over the last two months on a trading volume of \u20ac1.24 billion. <\/p>","protected":false},"excerpt":{"rendered":"<p>Gr\u00fcndung: 2021 GMX kombiniert die Vorteile einer dezentralen B\u00f6rse mit den M\u00f6glichkeiten einer zentralen B\u00f6rse und bietet seinen Kunden insbesondere Hochrisiko-Gesch\u00e4fte wie gehebelte Investments an. Der Unterschied zwischen dezentralen B\u00f6rsen und zentralen B\u00f6rsen liegt in der grundlegen Struktur und den daraus entstehenden M\u00f6glichkeiten. So arbeitet eine dezentrale B\u00f6rse in der Regel mit einer vorhanden Liquidit\u00e4t [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"highest_comparison_fee_percent":0,"our_fee_percent":0,"fees_saved_percentage":0,"formatted_min_tx_amount":"","population_text":"","culture_text":"","trend_text":"","economy_text":"","price_text":"","worldramp_text":"","slogan_text":"","title_culture_text":"","title_population_text":"","title_trend_text":"","title_economy_text":"","available_currencies_text":"","grammar_form_type":"","grammar_source":"","continent_de":"","footnotes":""},"categories":[31,30],"tags":[],"class_list":["post-6799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news"],"_links":{"self":[{"href":"https:\/\/usetokenpay.com\/en\/wp-json\/wp\/v2\/posts\/6799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usetokenpay.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usetokenpay.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usetokenpay.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usetokenpay.com\/en\/wp-json\/wp\/v2\/comments?post=6799"}],"version-history":[{"count":3,"href":"https:\/\/usetokenpay.com\/en\/wp-json\/wp\/v2\/posts\/6799\/revisions"}],"predecessor-version":[{"id":7669,"href":"https:\/\/usetokenpay.com\/en\/wp-json\/wp\/v2\/posts\/6799\/revisions\/7669"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usetokenpay.com\/en\/wp-json\/wp\/v2\/media\/7663"}],"wp:attachment":[{"href":"https:\/\/usetokenpay.com\/en\/wp-json\/wp\/v2\/media?parent=6799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usetokenpay.com\/en\/wp-json\/wp\/v2\/categories?post=6799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usetokenpay.com\/en\/wp-json\/wp\/v2\/tags?post=6799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}