Reference protocol
ARBDEFISept 2021design 0x7311…3f1eVerified
GMX $GMX
Perpetuals DEX with no VC backing and an unusually low max supply (13.25M). Most tokens distributed via XVIX/Gambit migration + esGMX rewards. The fair-launch reference for derivatives.
Total supply
13.3M GMX
fixed at launch
TGE circulating
62.3%
37.8% locked
Allocations
5
distinct line items
Launch
Sept 2021
Arbitrum
Distribution
Schedule of allocations
- 1XVIX + GAMBIT MIGRATION
Holders of the predecessor projects (XVIX from Aug 2020, Gambit on BSC) migrated 1:1 into GMX. Fully circulating from launch.
45.30%100% TGE - 2esGMX REWARDS
Vested staking rewards distributed to stakers + LPs over time. Vests over 1 year if held + staked.
30.20%24 MO LIN - 3LIQUIDITY
Initial GMX/ETH liquidity on Uniswap. Self-funded (no LP rewards programme).
15.10%100% TGE - 4TEAM
Pseudonymous founding team. 2-year vest. No traditional cliff.
7.55%24 MO LIN - 5FLOOR PRICE FUND
On-chain treasury used to provide a price floor and grow protocol-owned liquidity. Funded by GLP fees + esGMX vesting.
1.85%100% TGE
Key takeaway
Low supply (13.25M total) makes per-token economics legible to retail. Real fee revenue paid to stakers in ETH/AVAX builds genuine demand, not just inflation.
Design notes
- NO VCs. NO PRIVATE SALE. NO AIRDROP. PURE FAIR LAUNCH.
- STAKERS EARN 30% OF REAL TRADING FEES IN ETH — NOT INFLATION.real revenue, not emissions
- 13.25M MAX SUPPLY MEANS THE TOKEN IS LEGIBLE — NO 9-FIGURE FUD.
Use as your starting point
Open the GMX tokenomics in Token Economics, edit the allocations, change the vesting, see the sell pressure live. Free, no signup.
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