GMX (GMX): D-Score 32/100 — Centralized Leaning BlockIndex D-Score: 32/100 (Centralized Leaning). GMX (GMX) is a Layer 2 cryptocurrency using Other consensus. GMX: Multichain decentralized perpetual exchange leveraging GLP/GLV liquidity primitives, Chainlink Data Streams, and community governance. Source: https://blockindex.ai/coin/gmx · Data by BlockIndex.AI · Updated 2026-06-19 D-Score breakdown (0-100, higher means more decentralized) Component: Score: Overall D-Score: 32: Node distribution: 0: Initial distribution: 0: Governance: 21: Age and history: 11: Autonomy: 0: Key facts - Layer: Layer 2 - Consensus: Other (N/A) - Launch: Fair Launch (2021) - Founder: Anonymous founding team - VC funded: No - Max supply: 13,250,000 - Circulating: 10,418,727 (78.6%) Market data (as of 2026-06-19) - Price: $5.59 - Market cap: $58.23M - 24h volume: $4.08M - 24h change: -2.40% · 7d change: +1.43% About GMX is a permissionless, community-driven decentralized exchange protocol that specializes in perpetual futures and spot trading. Initially launched on Arbitrum in September 2021, GMX has evolved from a single-chain DEX into a multichain perpetuals liquidity layer with deployments on Arbitrum (primary launch), Avalanche C-Chain, and a Solana deployment announced in March 2025. The project emphasizes self-custody trading—users transact directly from wallets—and pursues capital efficiency for liquidity providers through its GLP and GLV liquidity primitives. Its governance model is community-centric, driven by token-holder votes and Snapshot-based decision making, and the project has repeatedly highlighted security best practices including multiple formal audits and an active Immunefi bug bounty. At the technical level, GMX V2 moved the protocol toward isolated GM liquidity pools paired with GLV liquidity vaults to improve capital efficiency and risk isolation. The protocol integrates Chainlink Data Streams for low-latency price feeds and has pursued multichain messaging via community-selected partners (LayerZero). Developer tooling and APIs, a presence on GitHub, and documented smart contract addresses enable external integrations and composability across host chains. GMX itself does not operate a native consensus; it is a token and smart-contract protocol deployed across host chains and therefore inherits the consensus and security properties of those networks (Arbitrum/Ethereum, Avalanche C-Chain, Solana). In terms of use cases and ecosystem impact, GMX provides permissionless leveraged trading exposure up to 100x on major assets while offering capital-efficient mechanisms for liquidity providers. Its multichain deployments broaden market reach and reduce single-chain concentration risk, enabling traders across Arbitrum, Avalanche, and Solana to access perpetual markets and contribute liquidity. The protocol’s design and integrations—Chainlink for price feeds, LayerZero for messaging—are intended to mitigate manipulation risks and enable cross-chain composability. GMX’s historical trading volumes and TVL milestones position it as a core derivatives venue within the DeFi landscape, and its product roadmap emphasizes cross-margin, cross-collateral, market groups, and additional liquidity innovations. Tokenomics are straightforward: GMX has a fixed maximum supply of 13.25M GMX with allocations for migration, liquidity, vesting/escrow rewards, ecosystem initiatives, and a team allocation distributed linearly. Circulating supply snapshots in the provided data show roughly 10.36M GMX in circulation at the time of the snapshot. While allocations are described in source materials, the precise timing of distributions (premine vs. vested issuance) is not detailed in the provided files, and therefore pre-issue percentages are not explicitly documented. Market metrics in the supplied snapshots indicate an example price of $8.21, an ATH of $90.63 (April 18, 2023), and notable 24h volume and market-capary figures that reflect GMX’s role as a leading perpetuals liquidity provider on its host chains. Governance is community-led via Snapshot and governed proposals; the project is explicitly presented as not VC-backed and with an anonymous founding team. On-chain governance activity is visible through gov.gmx.io and Snapshot voting records where major protocol decisions—for example, the community vote that selected LayerZero as the messaging partner—have been recorded and executed. Looking forward, GMX’s roadmap centers on multichain expansion (further LayerZero rails), Solana support, and continued product enhancements to improve liquidity efficiency and developer integrations. While GMX mitigates many risks through audits and bounties, derivative protocols inherently carry market and smart-contract risk, and multichain operations introduce bridging and messaging surface area that governance and engineering will continue to address. Links - Website: https://gmx.io/ - Whitepaper: N/A - GitHub: https://github.com/gmx-io --- About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore