# GMX

> Source: https://fuckyc.org/services/gmx/
> Website: https://gmx.io/
> Categories: DEX & atomic swaps
> KYC: none — Permissionless on-chain perpetuals protocol on Arbitrum and Avalanche; no accounts.
> Status: active
> Jurisdiction: protocol — decentralized
> Fiat on-ramp: no
> Payment methods: crypto
> Founded: 2021
> Open source: yes
> Custodial: no
> Last verified: 2026-01-01

## Verdict

GMX is the most-used permissionless perpetuals protocol on Arbitrum. No accounts at the protocol layer; wallet hygiene determines correlation. Standard perp risk.

## Strengths

- On-chain leverage trading from any EVM wallet.
- GLP/GM liquidity model is well-documented.

## Caveats

- Oracle and pricing model is the dominant historical risk surface.
- On-chain transparency.
- Facts need re-verification by operator (last seeded 2026-01).

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## What GMX is

An on-chain perpetuals protocol with a multi-asset liquidity pool model.

## Threat-model fit

Trading venue.

## Sources

- [GMX docs](https://docs.gmx.io/) — accessed 2026-01-01
- [KYCnot.me — GMX entry](https://kycnot.me/service/gmx) — accessed 2026-01-01