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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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53289617 No.53289617 [Reply] [Original]

This is unironically the best project out there

>> No.53289635

>>53289617
kek he doesn't know that the LP model is unsustainable and inherently flawed

>> No.53289877

> also doesn't realize that the multiplier point staking system will eventually lead to a bum rush out the door crashing the price when people convert their esGMX to GMX and then sell their shit coin.
hey OP, if GMX is the best project out there, what is GNS since it is better?

>> No.53289920

>>53289635
>>53289877
I have both and not worried about that

>> No.53289961

It's funny watching the GNS people go through what I went through with Bancor. A "Uniswap killer" that spent its entire life shitting on Uniswap as it dropped further and further behind and eventually rugged.
The lesson was if there's a raft of "X killers" then you should just buy X.
And yes, OP, GMX is absolutely god tier. $2.7 million in fees in a single day last week. No VCs, no FTX bullshit, most GMX staked. Huge APYs paid in actual ETH. Most of /biz/ still doesn't get it.

>> No.53289972

Kwenta.io

>> No.53290010

>>53289617
I buyed .1 ETH worth around when Arbitrum launched in 2021, then sold it a month ago for 2 ETH. I just wanted to lock in my gains before ETH surges. Good luck to the remaining GMX bros.

>> No.53290082

>>53289961
lol, go on twitter (unironically) and watch the "big" influencers all say they tried GNS cause GMX is out of liquidity and say they like GNS better.
GNS is on arbitrum now.
there is real competition.
We get it, you don't

>> No.53290109

>>53290082
oh my god the big influencers on twitter! Check the big influencers on twitter, anon, that's much more important than GMX being a top 3 revenue generating protocol in all of crypto!

>> No.53290161

>>53289961
>A "Uniswap killer" that spent its entire life shitting on Uniswap as it dropped further and further behind and eventually rugged.
youre acting like GMX is the first ever defi leverage exchange.... Synthetix was the first so according to you GMX is just a "Synthetix killer" and you shouldn't buy it.

Either way i've used both GMX and GNS and GNS has a smoother trading experience especially with their new one click trading upgrade

>> No.53290913

>>53289877
>>53290082
>>53290161
These GNS shills always seethe once the superior GMX is mentioned. GMX will be over 10b marketcap soon, if you like it or not.

>> No.53291026 [DELETED] 
File: 776 KB, 979x975, Telegram And Website.png [View same] [iqdb] [saucenao] [google]
53291026

>>53289617
Look into this, if you like that.

It's the best Ai Moderation telegram chat bot

>> No.53291028

>>53290913
I hope GMX market cap goes up
seriously. I have no doubt that GNS will overtake GMX
so the higher GMX the better for me

>> No.53291048

>>53289617
VELA Exchange (DXP) will fuck asses.

>> No.53291121

>>53291048
>>53291028

GMX, GNS, and DXP are all stupid models that will not thrive long-term. The LP counterparty model is too expensive and inherently limited.

RFQ -> Orderbook -> Counterparty LP

Few will understand but these protocols are building on the worst model.

It will take some time for these superior models to be developed and in the meanwhile these projects are enjoying their short time in the spotlight. But don't get married to any of them is my suggestion.

>> No.53291796

>>53289617
Perp DEXs like these and mobility tokens like RIDE, privacy gems like ZKP and much more are what my portfolio consists of, ain't no snoozing this year.

>> No.53291863

>>53291121
>But don't get married to any of them is my suggestion
I marry no project. As soon as VELA makes a X10 I'm selling my stack.

>> No.53292168

>>53291121
GNS has been talking about how they want to phase out fees for LP overtime infavor of protocol owned liquidity.
but please let me know what will beat out GNS (or GMX for that matter)

>>53291863
kek good luck with that private beta on the exchange

>> No.53292203

>>53289617
Most of the big names in it sold already. For good reason. Biggest reason is ultimately the Perp dex war means that there will be a race to the bottom in terms of how much the non LP token makes in fees (GMX makes 30%, they will need to take cuts to compete with future competitors or else LPs will probably leave)

I have a bunch of ESGMX that I just let accrue rewards overtime. I bought back in sept 2021 and sold the last of it over this summer

>> No.53292320

>>53292168
The protocol owned liquidity will be a bit better because they remove some fees but they will have problem scaling, it will take a lot of capital to sustain increasing trade volumes.

Further the main issue is not even the fee, it is counterparty risk. To protect the LP pretty much every pair has a huge spread and funding fees to open trades that protects LP but makes trading more expensive.

If they eliminate the spread and reduce funding fees, LP will stop winning and that's not sustainable.

So the only way GNS wins is if traders lose. And if traders are losing they will move to a platform they are not losing at. That is the inherent issue.

I have dropped the alpha in my previous comment, DYOR you will find it.

>> No.53292398

>>53289617
I've used gmx gns and Tigris
Tigris is the best followed by gns followed by gmx. Im not invested in any of them but I am a trader and the following is why I chose that order. Gmx and Tigris UI is shit, gns UI is superior. Gmx and gns execution is shit, Tigris execution is superior. While UI is somewhat important to me, execution is much more important that UI. To that end Tigris is hands down the best since it has zero spread and literal instant execution along with better position management. It's under audit at the moment but I'm looking forward to when trading opens once more. As far as investing into any of these, just buy some of each project, there's no reason to gainsmax.

>> No.53292424

oh you people are token holders? I thought you meant as users

>> No.53292427

GMX is based ngl, I hope they also introduce tokenized stocks like Gains

>> No.53292452

>>53289961
Dude... are you retarded? Bancor came out first. Uni was the Bancor killer.

>> No.53292463

>>53292452
Correct

>> No.53292504

>>53292320
70% of leverage traders lose on any platform. Its closer to 55% on GNS.

>> No.53292758

>>53292398
shoo shoo

>> No.53292772

>>53292427
you don't understand GNS
if you want to understand it read the docs, go to the discord. Im too lazy to explain but there is zero tokenization of assets happening on gTrade
its all synthetic, this is the point

>> No.53292865

>>53292504
Not true. Real markets are a zero sum game. For every loser there is a winner.

What GNS has done is give the house (LPs) an edge through fees and spread.

Thats fine short term, but the second an alternative comes up without this built in house advantage, the traders will leave.

Secondly, no serious volume traders can use the platform because of the fees.

>> No.53292946

>>53292865
>>53291121
>>53290913
Fuck your mother.

>> No.53292977

>>53292865
You should study more. Theres a reason some people only SELL options contracts. Why do you think that is?

>> No.53293006

>>53292977
Fuck. Off. Gay bitch.

>> No.53293092

What is up with the GNS fags? Why are there so many of them and why are they so organised? Is it a telegram thing? A pajeet thing? Do you all follow some influencer?

>> No.53293112

>>53292977
Are you dense? If the buyer of the contract loses then the seller wins. If the buyer wins then the seller loses. It's zero-sum.
What GNS has done is rig the game against the trader by building in an edge. Again that works, but it's not sustainable.
If you think GNS, GMX, or any of these other projects are accomplishing anything other than creating obscure bucket shops then you need to study more. This is not the future of finance by any stretch.

>> No.53293296
File: 104 KB, 1703x442, Screenshot 2023-01-15 180707.png [View same] [iqdb] [saucenao] [google]
53293296

>>53293112
What comes to mind when you read this? You retards are recreating systems that have already failed in tradfi over 100 years ago and thinking you're pioneering defi

>> No.53294687

>>53293296
How do cex’s perps like binance profit then? Is it just a liquidity/volume game

>> No.53294707
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53294707

>>53293296
>traders are exposed to market manipulations due to a shops agency
Gee sure would be worth noting if someone solved that problem for the first time in human history.

>> No.53294796

>>53294687
Binance isn't the counterparty to trades on the platform. There is a market operation to clear positions and for every position there is a trader on either side.

Binance profits by charging a nominal fee.

>> No.53294823

>>53294707
Read my prior posts.
These new age bucket shops (GMX, GNS) don't necessarily manipulate the market, but they charge a spread to your position + deduct heavy fees which raises your liquidation price. Then they keep the profits when you get liquidated.
So the build in a casino edge for themselves when they take a position against the trader.
It's the same principle applied a different way. They are rigging the system against traders in an unfair way to profit. It's not only illegal but traders will eventually take their money elsewhere when they see they have better options.

>> No.53294925

>>53294823
Ok but traders are currently eating those losses to the tune of hundreds of millions a year, paid to GMX holders, right?

>> No.53295008

>>53293296
Every one of these protocols is built by ex traders/vc. Crypto tards have never seen these scam before. Author Hayes is advise myc right now. He’s the biggest grifter

>> No.53295081

>>53294925
Correct.

Even if we imagine that the traders have infinite money or that there's a sucker born every minute, it's stupid to think they won't leave as soon as the better option is available. Also no volume traders would use this because they are not stupid.

>> No.53295105

>>53295008
Of course the founder of the shadiest exchange everyone knew was counter trading clients LOVES this idea

>> No.53295311

>>53295081
Is your gripe with the lp model just the fees and spread? Id reckon as liquidity goes up fees can be adjusted down

>> No.53295759

>>53295081
i get what you are saying but it could take years for a viable competitor to emerge.

>> No.53295929

>>53291048
Having tried VELA alpha platform and used GMX/GNS this guy is correct

>> No.53295949

>>53295929
that might have been a good buy at 5 cents bro

>> No.53295955

>>53295949
it's 8 million mkt cap.. 19 million in circulation after 2023 30 after 2024.. it won't ever reach 100 million team already said a million times they will introduce burning mechanics or burn some of the supply .. this is gonna 100x watch.. they have a superior ui/trading tools to GMX/GNS

>> No.53295967

>>53295955
well, can you share some screens from the beta? i assume you're in it because otherwise you wouldn't be able to say it has superior ui

>> No.53296428

>>53295967
There are some screenshots on Twitter. I haven't used it but at least it looks better than GNS

>> No.53296440

>>53295955
checked. thoughts on rolling some of my GMX profits into this Vela/DXP shit?

>> No.53296517
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53296517

It's okay and ima let you finish but...GNS on Polygon is the best perp platform.

>> No.53296772

>>53292320
drop the name, RFQ exchange brings up several results

>> No.53297044
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53297044

You dont need to argue.
Just use unidx and it will give you the best Trading rade while it connects GMX, gns etc.

It will be the 1inch or Sushi Swap for leverage Trading.
Easy Tokenomics and Fee sharing.

Also best liquity cause it uses the liquity of all Pools and does does Crosschain

>> No.53297361

>>53297044
>Also best liquity cause it uses the liquity of all Pools and does does Crosschain


oh so when one pool goes down other pools will get dragged down too

definitely the best place to be in defi then

>> No.53297377
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53297377

>>53297044
>THEY USE FUCKING LINKTREE TO GET YOU INTO THEIR TRADING APP

>THE TRADING APP LOOKS LIKE A SIDE PROJECT FROM A UNDERGRAD IN PHILOSPHY

are you fucking mental

>> No.53297520

>>53297044
fees upon fees