GMX is one of the largest crypto platforms for derivates.

Specifically, GMX is a decentralised exchange for perpetual contracts. Derivates are financial instruments that derive their value from an underlying asset, and perpetuals are derivates that don't expire.

GMX is available on two blockchains, Arbitrum and Avalanche.

As for the GMX, the project's native coin, it has an unusual liquidity pool called GLP, which stands for GMX Liquidity Pool.

Exactly 50 percent of GLP is made of USDT, USDC, DAI and FRAX stablecoins.

The remaining 50 percent comprises high-cap cryptos.

And here's the kicker, said 50 percent varies for each blockchain.

On Arbitrum, these are BTC, ETH, LINK and UNI. On Avalanche, it's BTC, WBTC, WETH and AVAX.

GMX is currently valued at $54 per coin, way below its ATH of $89, but way above its all-time low of $13.37.

At the time of writing, it has a market cap of $524.6 million, and there are over 9.3 million GMXs in circulation.