GMX has gained popularity due to its robust features, liquidity, and seamless trading experience. As an active DEX, it has become a go-to platform for traders seeking fast and reliable transactions on the Avalanche network. With its user-friendly interface and extensive pool offerings, GMX has successfully positioned itself as a leading player in the DeFi ecosystem.

Our Avalanche DEX Dashboard provides you with valuable insights into the performance and trends within GMX. By analyzing key metrics and tracking the evolution of various parameters, you can gain a deeper understanding of GMX's popularity and market dynamics.

The dashboard presents comprehensive data on metrics such as weekly swaps, unique swappers, volume swapped in USD, average volume per swap, TVL, and more. These metrics allow you to assess the trading activity, user engagement, and liquidity of each GMX pool.

Additionally, we provide you with an overview of the top-performing pools within GMX. By identifying the pools with the highest trading volumes, most active swappers, and significant liquidity, you can make informed decisions and capitalize on emerging opportunities in the Avalanche DEX ecosystem.

The data and metrics presented in this dashboard are derived from Flipside Crypto, a leading provider of blockchain analytics and intelligence. Flipside Crypto gathers and processes on-chain data from the Avalanche blockchain to provide accurate and reliable insights into the performance and activity of the Avalanche DEX, specifically focusing on GMX.

The methodology employed to calculate the metrics involves analyzing the data available in the Avalanche blockchain's core.ez_dex_swaps table. This table contains information about each swap transaction that occurred on the DEX, including the amount in USD deposited, the amount in USD withdrawn, the timestamp of the block, the contract address, the platform, pool name, trader information, symbols of the tokens being swapped, and other relevant details.

Using this data, the following metrics are calculated and tracked:

• Weekly Swaps: The number of swap transactions that took place within a specific week, providing an indicator of the overall trading activity on GMX.

• Unique Swappers: The count of distinct addresses (traders) involved in the swap transactions during a given week. This metric reflects the level of user engagement and participation on the platform.

• Volume Swapped in USD: The total value of assets (in USD) swapped during a particular week. It represents the liquidity and trading volume on GMX, indicating the size and scale of transactions occurring on the DEX.

• Average Volume per Swap: The average value of assets (in USD) swapped per transaction. This metric provides insights into the typical size of trades and helps assess the trading behavior and preferences of users.

• Top pools: The top pools have been obtained considering all the metrics above.

• DEX competition: All the metrics of GMX have been compared against the rest of the available DEXs on Avalanche.

These metrics enable users to monitor the performance, popularity, and liquidity of GMX and its individual pools. By tracking the evolution of these metrics over time, users can identify trends, spot opportunities, and make informed decisions based on the prevailing market conditions.

• GMX, a decentralized exchange on the Avalanche network, has emerged as one of the top DEXs in terms of trading volume and popularity.

• Over the past 90 days, GMX has executed approximately 68.6k swaps, involving over 8k unique swappers. The weeks of April and June witnessed the highest activity in terms of swaps and unique swappers.

• The total volume swapped on GMX amounts to nearly 500 million USD, with an average volume per swap of around 7.4k USD. April experienced a peak in volume, with June also showing an increase.

• Among GMX pools, USDC-WAVAX has consistently been the most active, followed by USDC-USDC.e and USDC-WETH.e. Other pools saw lower activity levels. USDC-USDC.e pool had the highest number of weekly active swappers during the initial phase, but its activity decreased in June. USDC-WAVAX pool witnessed significant peaks in unique weekly swappers, with USDC.e-WAVAX also registering notable numbers.

• In terms of volume, some pools experienced increases in April, but only USDC-USDC.e and USDC-WAVAX maintained the numbers. BTC.b-WETH.e had a significant increase in mid-June. USDC-USDC.e pool had the highest total volume, followed by BTC.b-WETH.e and USDC-WAVAX.

• Compared to other DEXs on Avalanche, GMX's swap count and number of swappers are relatively lower. However, GMX has maintained consistent activity levels week by week.

• In terms of percentage share, GMX represents a smaller portion of total swaps and swappers compared to its top competitors on Avalanche.

• Despite lower swap and swapper counts, GMX stands out in terms of trading volume. It ranks third globally over the past 90 days, with a volume exceeding 500 million USD, competing with DEXs like Woofi and Trader Joe.

• GMX's growing volume share suggests an increasing market presence and indicates its potential to challenge Trader Joe's dominance.

• GMX's average volume represents around 15% of the total volume swapped on DEXs, but its share has recently increased to over 20%.

Overall, GMX has established itself as a prominent DEX on the Avalanche network, demonstrating consistent growth in trading volume and gaining popularity among traders. With continued development and market expansion, GMX has the potential to further strengthen its position in the decentralized exchange landscape.

In the world of decentralized finance (DeFi), the Avalanche DEX has emerged as a prominent player, providing users with a secure and efficient platform for trading digital assets.

According to Omar (Ommiii)'s tweet, among the various protocols on Avalanche, GMX stands out as one of the top DEXs, offering a diverse range of pools and attracting a significant user base.