GMX BECOMES THE FIRST DAPP THAT DEPOKET INTEGRATES FROM ARBITRUM
After having integrated many chains, DePocket assesses each new chain in order to choose the best dApp to integrate next. Each new integration on DePocket helps users manage their assets better, all in one convenient platform. With Arbitrum, GMX has been a favorite dApp for many users, and DePocket is happy to announce that we have successfully integrated it into our platform.
Understand clearly about GMX.
GMX is a decentralized spot and perpetual exchange project, initially operating on BSC (the BNB Chain). After successfully testing the product on Arbitrum, it became clear that the app needed to be completely transferred over to the Arbitrum platform. As one of the first perpetual contract exchanges on Arbitrum, GMX gained a lot of users, before continuing to expand into Avalanche.
GMX provides traders with a complete set of tools to trade spot as well as long/short trades, with a strong emphasis on saving costs, no arbitrage, no funding rate, and minimal possibility of liquidation. Currently, the project is being considered as a competitor to other names such as dYdX, Perpetual, NCDEX, etc.
What makes GMX become a strong dApp on Arbitrum?
GMX can help users trade with lower costs, no arbitrage risk. To do this, GMX uses its own liquidity pools and the transaction price will be decided by Chainlink’s Oracle, using TWAP (Time-Average Price) from major DEXs.
GMX works on both Arbitrum and Avalanche blockchains, with both blockchains offering low transaction costs and higher speeds, helping users save time, costs, and enjoy a much improved experience.
GMX operates with a relatively different AMM model to accommodate large liquidity without too much dependence on TVL.
What can users do now that DePocket has integrated GMX?
Users can now track staking balances from GMX through DePocket’s dashboard. Additionally, users can manage their assets without connecting any wallets. Furthermore, users can also track the balances of multi-chains, multi-wallets, and customize your wallet’s name. We believe this will offer significant convenience to all of our users, especially in such an easy-to-use platform like DePocket. Investors can focus on what they enjoy doing, like investing, as DePocket helps to manage their crypto assets.
Try our demo wallet here: https://app.depocket.com/addresses/0x087e9c8ef2d97740340a471ff8bb49f5490f6cf6
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