/biz/ - Business & Finance

I have some gmx on arbitrum, wat do? I'm not staking or anything.

>>52538278
>1000 GMX
the make it stack

>boylover logo

>>52538740
How would you know, anon?

>>52538278
I got 20

>>52538740
This. Imagine investing in coins that have pedo symbols for a logo. Can't wait for this shit to rug just like sol and ftx

>>52538278
Get this pedo shit off my board
Picrel is op

>>52538278
why do they have 2 tokens

>>52538278
>whole market tanking
>GMX over $40
i'm never going to be able to buy this cheap, am I

>>52538278
>1000 GMX (60k) is basically 14k in income a year.
Can you please explain to a brain let how

>>52539922
GLP is their liquidity pool token

>>52539972
so which one do i Buy?

One is cents, the other 2 digits.

>>52539976
Depends on if you want upside or higher yield

GMX has more price appreciation with 15-20% yield

GLP is an index of ETH/BTC/stables with 30-50% yield

tigris.trade is the microcap GMX. big things coming next week. next nft sale coming up too

>>52538278
I use to have a over 1000 of this and I sold for $40 a long time ago and swapped for ICP thinking I was a genius…

>>52540066
Mycelium is the microcap GMX. Mycelium got into top 20 on cryptofees.info during the last volatility.

I've been using GMX lately and it's hilarious:
>Pay fees for opening an order
>Pay gas fees for the transaction
>Eat the spread
>Get fulfilled at some random price
>Fees for every hour your position is open
>Fees for closing
>Also gas fees for closing

And add to that if you want to use BTC as collateral:
>More fees for opening
>More fees for closing
>More rolling fees
>More gas fees
>Close and get USDC instead of BTC so you have to swap it back and pay more fees+gas fees+another spread hit.

Also:
>UI is basic as hell and looks like some tycoon sim from the 2000s
>No way to check total PnL after the trade is closed because the eldger is awful and you paid a clusterfuck of fees that not even the FBI can make sense of.

At this point I almost prefer to get scammed by a CEX because at least I'll know what happened to my coins.

>>52540254
yep, this
the slippage is all fucked up even in relatively low vol conditions. I don't even want to imagine what it would be like in a vol spike

>>52540254
And all those fees get paid to chad GMX holders and clearly people are happy to pay them so cope. Go gamble on FTX where it's safe, stupid faggot.

>>52540762
try tigris.trade - theres no slippage…

>>52540098
link?

>>52540952
you mean a link to the site that i fucking wrote out in its entirety in the post you replied to? The fuck?

>>52540842
Answer me this: When a thread pops up about GMX is it about how good it is as a trading platform or about the shitcoins related to it and their price/yield? The platform is a turd, no one would use it so the volume is fake and the yield is paid through some ponzi scheme. I had a bag of GMX but then I actually used it and sold it all. DYOR I guess.

>>52540995
>nobody uses it which is why it's the highest fee earning protocol after ETH and UNI and also it's a ponzi which is why you earn ETH and not GMX as rewards
lmao what fresh cope is this

>>52538691
https://app.gmx.io/#/earn

>>52540254
How fucking poor are you to complain about gas fees on arbitrum?

>>52541065
>ponzis have to be obvious

>>52538278
hey ive seen this before, it never ends well.

>>52541219
Yeah I gotta give it to them. The ponzi where they pay me free ETH is very well concealed.

>>52540254
Its not great for scalping, but it works just fine if you want to day trade, or hedge for a couple of weeks
Also exchanges also make you pay fees

>>52540254
And you can change choose what you receive when you close a position

>>52541276
*as long as you buy and stake their token

>>52541465
Not really tho, providing liquidity to the trading pool pays out ETH fees and has 0 GMX.

>>52541065
He's kinda right tho. Also anon dev team. Highly suspicious throughout.

>>52541465
>wait there's a defi token that actually has utility and pays fee revenue back to holders

>>52540098
> Mycelium: $4,670 in daily fees...
First of all lol. Second of all Chainlink Build chose THIS shitcoin as their perp token instead of GNS? Third why is GNS not on that list of crypto fees?

>>52541607
Not bad for rank #650

>>52539472
It’s like these guys never learned from FTX

>>52540070
Breh I remember that time wtf were you doing

daily reminder all the gmx fud comes from gns-fags, a platform that had 600 active daily users at their PEAK.

>>52540254
use gns

>>52538278
No one is buying this pedo coin

>>52538278
what happens when an elite trader comes and wins like 80% of their trades?

>>52538278
imaging HOLDING a stake token with pedo "boy lover" logo + email hoster of year 2000 name.

someone tell me what happens to these perp protocols when a giga chad trader comes and there isnt always counter party to the trade
does the platform just deny the trade / close the position?

>>52543885
they can set limits if size is too much to handle

>>52543885
>insufficient liquidity warning
DEX aren’t made for large cash outs unless you’re trading big pairs on a major exchange
Otherwise the slippage gets high fast

>>52540254
Get rugged of all your money by jews then dumb nigger.

>>52540026
>>52540066
>>52540098
Would it actually be better off getting a smaller cap perp exchange token? I assume they all work similarly in their tokenomics etc, its seems like GMX is already too big if your investing small amounts (i dont have 60k)