CryptoBlog n.762
GMX DEX Reportedly Suffers $565,000 Exploit Decentralized exchange (DEX) GMX allegedly experiences price manipulation on the AVAX/USD pair in key exchanges. Open interest in AVAX long perpetual futures has accordingly been capped at $2 million, while open interest in AVAX short perpetual futures has been limited to $1 million. Perpetual futures are a type of open futures contract without a settlement date. GMX offers spot and perpetual futures, with more than $342 million locked up on Arbitrum, a layer-two ETH solution, and $67 million on Avalanche’s blockchain. GMX is a decentralized exchange that offers a low fee for perpetual futures and spot trading. It runs on Arbitrum and Avalanche. It allows users to borrow up to 30x their initial margin to amp up futures betting.