We are thrilled to share that GMX is now listed on Coinhako!

What is GMX?

GMX is a decentralized exchange offering spot and leveraged trading on Arbitrum and Avalanche blockchains. It uses oracle-based systems for trading. Founded by an anonymous team with suspected ties to Gambit Finance and XVIX, GMX benefits from their DeFi and trading experience.

GMX, the platform's utility and governance token, rewards stakers with 30% of collected fees. Available on Arbitrum and Avalanche, it's bridgeable via Synapse Protocol. Stakers earn esGMX, Multiplier Points, and ETH (Arbitrum) or AVAX (Avalanche) fees.

There is a total supply of 9,587,010 GMX and GMX has traded for US $217.32 at its peak. 

How does GMX work?

Its perpetual swap markets allow traders to long or short major tokens with up to 30x leverage. Trades use a shared liquidity pool (GLP) and Chainlink-secured oracle prices, offering high depth.

The GMX system comprises two functional tokens:

1. GMX for governance
2. GLP for trading liquidity

With over $260M total value locked on Arbitrum, GMX is currently the largest dApp on this leading L2 platform.

Why does GMX stand out?

Perpetual swaps are futures contracts without expiry, used in DeFi for crypto speculation with high leverage and low upfront capital. GMX offers non-custodial perpetual swap trading with user-friendly features, low fees, and rapid transactions. Traders can long or short, while liquidity providers earn from a multi-asset pool system. 

GMX stands out due to:

1. 1. Strong value accrual to GMX holders and liquidity providers in ETH
2. Non-inflationary tokenomics model, avoiding "farm and dump" incentivesDespite competition from other DeFi platforms and centralized exchanges, these factors position GMX as a potential leader in derivatives trading.

What can you do with GMX on Coinhako?

GMX will be available for users to trade across all swap pairs on Coinhako.

To gain access to any of these trading pairs, you can either:

1. Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment method)
2. Purchase GMX instantly with Visa / Mastercard 

Please note that the sending and receiving of GMX will not be available for this release.

Risk Warning on Digital Payment Token Services

Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).

The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.

Before you pay your DPT service provider any money or DPT, you should be aware of the following.

1. Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
4. You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.

Visit: Coinhako.com/risk-disclosure for more information.