Comparing Perp DEX protocol: GMX, Gains, dYdX…

Comparing Perp DEX protocols: GMX, Gains, and dYdX...

Cryptocurrency KOL MooMs believes that Perp DEX will lead the next bull market, and has compared the fee structures, metrics, growth rates, etc. of different protocols such as GMX, Gains, dYdX, Synthetix, Level Finance.

1) GMX offers zero slippage swaps and margin trading for the GLP pool by allowing users to trade against it. GLP is a basket of assets that includes BTC, ETH, UNI, LINK, and four stablecoins. The huge advantage of this model is its composability; some protocols are starting to create investment products that utilize GLP and its yield to generate additional returns. Although the platform only offers four currency pairs, the upcoming v2.0 (possibly this summer) will introduce synthetic markets, offering a variety of new currency pairs, including stocks and forex. Additionally, separate pools and lower fees will be introduced for a better trading experience. Leverage: Crypto: 50x.

2) Gains provides a trading platform with multiple asset classes and high leverage. The platform uses gDAI vaults as counterparties, where DAI is continuously minted/burned. When traders win, their winnings will be received from the vaults. When traders lose, their losses will be sent to the vaults. Similar to GMX, Gains’ model is highly composable, allowing other protocols to integrate gDAI and build products on top. Leverage: Crypto: 150x; Commodities: 150x/250x; Forex: 1000x.

3) dYdX was the first permanent DEX to offer leveraged trading for 36 crypto pairs (up to 20x). dYdX is the only platform that uses an off-chain order book, sacrificing decentralization for deep liquidity. However, the team is working hard to release v4 soon. dYdX v4 will launch on its own Cosmos blockchain, aiming to make the protocol fully decentralized. The new version will also introduce a highly anticipated feature: revenue sharing.

Reference: https://twitter.com/moomsxxx/status/1672294808059035677

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Market

Future of Web3: Triple Impact of VSAP on Exchanges, Financial Markets, and TradFi

With the rapid development of the virtual currency market, more and more people are investing and trading in virtual ...

Bitcoin

OKX will launch a signal strategy and has now opened a signal provider recruitment.

The signal strategy function is expected to be officially launched in August to September 2023. This function will al...

Opinion

Checklist of 9 popular cryptocurrencies virtual credit cards

Cryptocurrency virtual credit cards launched by cryptocurrency exchanges (such as Binance) allow for consumption and ...

Blockchain

The coin was stolen for the first time, and the 7000BTC was missing.

On the morning of May 8, the world-renowned cryptocurrency exchange currency announced that the currency security was...

Blockchain

report! This 14,000-person hacker organization is eyeing the exchange | DVP hackers are coming to an end

According to Baihuhui, in 2018, the economic loss caused by security problems in the digital currency industry was 2....

Market

Get Ready for a Crypto Carnival - New Listings and Delistings!

Check out our latest rundown of notable digital asset listings, delistings, and trading pair updates from crypto exch...