Premium decomposition (price vs holder cash flow) needs our own on-chain fee data, which we are building. Until then we show price, supply, and on-chain identity.
4Overview
Perpetuals and swaps (Arbitrum, Avalanche). Revenue buys back GMX, which is then staked (staker distribution temporarily paused).
Full data & breakdownon-chain · events · derivatives · peers · governance · risk — expand for the institutional detail
7On-chain · holders
data wiring — next increment
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9Futures · derivatives
Derivatives data (open interest, funding) is N/A. Perpetual/futures feeds require a commercial market-data subscription we don't use, so we show N/A rather than an unverified number. Methodology →
10Protocol fundamentals
Cash-flow metrics do not apply under this lens.
11On-chain value ratios
Cash-flow metrics do not apply under this lens.
12Governance · development
on-chain governance — not on Snapshot
13News · narrative · timeline
2021launch (Arbitrum, later Avalanche)
2023.08V2
2025.07.09V1 exploit
14Peer comparison
Cash-flow metrics do not apply under this lens.
15Risk · quality
AuditABDK and others (docs.gmx.io → Audits). ✅
Exploit history2025.07.09 GMX V1 ~$42M (Arbitrum) — reentrancy in executeDecreaseOrder + a GLP AUM accounting desync. V2 unaffected. Attacker returned most funds; $44M paid to GLP holders. A clear contract reentrancy flaw.
Centralization notesTimelock + multisig. A keeper (order-keeper) privilege exists — the exploit touched this trust boundary. Price feeds depend on keepers/Chainlink.
16Our metrics over time
No trend metric for this lens yet.
On-chain owned coverage
Not yet computed from our own RPC. For cash-flow assets without our own fee data yet, the premium decomposition is shown as building — never a fake number.