ProBit Global Lists GMX Decentralized Derivative Exchange's Utility Token

VICTORIA, Seychelles - Feb. 24, 2023 - PRLog -- The utility and governance token of the decentralized spot and perpetual exchange, GMX, is set to list on ProBit Global.

Owned and governed by GMX token holders, the non-custodial exchange's protocol allows token holders to vote on proposals that aim to improve the GMX network. The GMX platform (http://gmx.io/) enables traders to make non-custodial perpetual swaps and to take long and short positions with low transaction fees.

Known for its capability to be bridged between Arbitrum and Avalanche networks using Synapse (https://synapseprotocol.com/)—and even with the Ethereum network (though there will be a 7-day waiting period before access)—, GMX could also be staked to earn rewards in the form of escrowed GMX, multiplier points and ETH/AVAX rewards.

The reward is generated from market making, swap fees, and leverage trading in the platform's

multi-asset pool in which liquidity providers deposit assets to support trading and make their earnings. Subsequently, users can either choose to redeem their staking rewards into a wallet or compound them to increase earnings.

GMX has a forecasted maximum supply of 13.25 million tokens that could be increased after a (https://gmxio.gitbook.io/gmx/tokenomics) governance vote (https://gmxio.gitbook.io/gmx/tokenomics) (the increment would be subject to a 28-day time lock).

ABOUT GMX

GMX is the utility token for the decentralized derivative exchange that offers leverage trading services. Users on the GMX platform can take up to 30x leverage on trades for major crypto assets such as BTC, ETH, AVAX, UNI, and LINK. Powered by Chainlink Oracles, the exchange allows users to trade without the need for a username or password and it uses aggregate price data from various volume exchanges to reduce liquidation risk.

ABOUT PROBIT GLOBAL

ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum, and 800+ altcoins in 1000+ markets.

PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS

200,000+ community members 1,000,000+ monthly active users 3,000,000 monthly web visitors

50,000,000 users on partnering aggregators and wallets such as CoinMarketCap The user interface of the multilingual website supports 46 different languages Marketing and community support in 11 key languages