GMX Staking

Follow this Step-by-Step tutorial to stake your GMX.

You can view the current live staking APR at the top of this page.

Staked GMX receives three types of rewards:

• Fees from trading: 30% of platform fees (swap fees, fees of opening and closing positions, and borrowing fees) are paid to stakers in ETH or AVAX.
• Escrowed GMX (esGMX): esGMX tokens can be converted into GMX over a 12-month period or be re-staked to earn rewards in a way similar to GMX. the emission of esGMX has no maximum limit but is always backed by the max GMX supply.
• Multiplier Points (MP): MP boosts your fee rewards which is released to GMX stakers every second linearly at a fixed 100% APR. MP can also be re-staked via compounding.

For more info on Escrowed GMX and Multiplier Points, please see the Rewards page.

The key risks stakers face are:

• Smart contract risk
• Lock-up risks – Users may think its a good idea to lock it up for long periods of time but may not fully appreciate the downside risk

GMX is founded by a completely anonymous team. However, it is known that the team has a track record of two other successful protocol launches in XVIX and Gambit.

Due to their unique value proposition, GMX is positioning itself to be a leader in this derivatives product offering space because of two main points:

• Strong value accrual to token GMX holders and liquidity providers, denominated in ETH
• A non-inflationary tokenomics model: GMX liquidity model (GLP) doesn’t require inflationary (farm and dump style) token incentives

GMX exchange operates a dual token system. The GMX and GLP tokens are the native tokens of the GMX ecosystem.

GMX Token:

• GMX token is the Governance and main utility token of the GMX ecosystem.
• GMX token staking program offers holders an opportunity to earn passive income through their tokens. Holders can stake their GMX tokens and earn interests of over 10% APR (at the time of this writing) on Arbitrum one and Avalanche blockchain. 30% of the fees generated on the platform are used to reward stakers.

GLP Token:

• GLP is the GMX Liquidity Provider token.
• GLP stakers receive 70% of the platform fees in ETH and esGMX. This is a token that incentivises users to deposit their assets as liquidity on the GMX exchange and in return they mint GLP. Once a user returns their GLP to redeem their tokens, the GLP will be burnt.

GMX has a forecasted maximum supply of 13.25 million tokens, which can be increased if there are more products launching and liquidity mining is required. But that will be subjected to a governance vote before any changes.

Here is how the 13.25M of $GMX token will be distributed:

• 6 million GMX from the XVIX and Gambit migration.
• 2 million GMX paired with ETH for liquidity on Uniswap.
• 2 million GMX reserved for vesting from Escrowed GMX rewards.
• 2 million GMX tokens to be managed by the floor price fund.
• 1 million GMX tokens are reserved for marketing, partnerships and community developers.
• 250,000 GMX tokens were distributed to the team linearly over 2 years.

The $GMX token has a special feature, called the Floor Price Fund. This fund is denominated in $ETH and $GLP and grows in two ways:

1. GMX/ETH liquidity is provided and owned by the protocol, the fees from this trading pair will be converted to GLP and deposited into the floor price fund
2. 50% of funds received through Olympus bonds are sent to the floor price fund, the other 50% is used for marketing

The floor price fund helps to ensure liquidity in GLP and provides a reliable stream of $ETH rewards for those who staked $GMX