GMX Traders

Arbitrum

📝 Introduction

The most important feature of Dex is their decentralization; This means that the management of each person's assets is his responsibility, and there is no third party or institution that supervises the transactions. This makes more users willing to use decentralized exchanges, so that the volume of transactions of these exchanges reached its peak in 2021. One of the reasons why users choose centralized exchanges is the possibility of making profitable transactions. The GMX platform is one of the decentralized exchanges that has provided this possibility to its users.

GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades.

In GMX trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees and leverage trading. Dynamic pricing is supported by Chainlink oracles and an aggregate of prices from leading volume exchanges.

💡 Conclusion

In this dashboard, the activity of traders in GMX was analyzed. The most important results obtained in this dashboard are:

The volume of swaps in 2022 on the GMX platform has an upward trend.
The volume of swaps in GMX reached the highest level in September. This is while users recorded the highest number of swaps on this platform in the last week of June 2022. (On June 29, 2022, the highest number of swaps was recorded on GMX. On this day, the highest number of users interacted with the GMX platform.)
USDC, WETH and WBTC are the most popular among GMX platform users in terms of volume and number of swaps.
The desire to buy the following currencies was more than to sell them:

USDC

WETH

WBTC

USDT

FRAX

In the case of UNI, LINK and DAI currencies, users were more willing to sell them.
The swap volume of 84% of users is below 1000 $USD.
The maximum number of swaps recorded by one user is equal to 7,424 swaps.
A user with 33.3M $USD in total has the largest trade volume so far.
On the GMX platform, the largest volume and number of trades are recorded at 2 p.m. On the other hand, the lowest number and volume of swaps are done around 5 am.
About 31.8k users have had only one swap on GMX platform.
The results show that the number of users who stake on this platform is increasing day by day.
The largest volume of staking was recorded in August 2022.
A user with 160k $GMX is the top rank staker on this platform.
***By staking 520 times, a user has staked a total of about 75k $GMX on this platform. ***
About 11.6k users have staked on this platform only once.
About 38% of users have staked less than 1 $GMX on this platform.
128 users have staked more than 10k $GMX on this platform.
More than 13k users who swap in GMX are also stakers.

Analyst: Emanoel

***Twitter: ***

Discord: Eman#9698

Special thanks to the Flipsidecrypto 🧡

📃 Purposes of dashboard

In this dashboard, the activity of users who trade on the GMX platform has been evaluated. First, the general situation of this platform is analyzed in terms of volume and number of swaps. In the next step, all the tokens that are traded on this platform are examined in terms of volume to determine which tokens the users are most willing to trade. Then the top traders are identified. In the next part, the staking situation in GMX is analyzed and the top stakers are identified. In the last step, the swap volume and staking volume of users who used this platform for swapping and staking are checked. The results are fully presented in the final section.

✍🏻 Methodology