Bitvavo: New Listings of GMX and JasmyCoin
Bitvavo, the Dutch cryptocurrency exchange, has recently been displaying a remarkable level of activity. The crypto news has been featuring frequent additions to its extensive range of cryptocurrencies. Today, the biggest exchange in the Netherlands announced the listing of two new cryptocurrencies. GMX (GMX) and JasmyCoin (JASMY) are now available for trading on the platform. This article will provide you with detailed information about these projects.
If you don’t have an account with Bitvavo yet, you can take advantage of an exciting welcome bonus. Register through this link and receive 10 euros for free in your account. You can then spend this amount on any cryptocurrency of your choice.
GMX: A Crypto DEX
GMX is a decentralized exchange (DEX) that was launched on the Ethereum (ETH) scaling network Arbitrum (ARB) in September 2021. If we delve into the history books, we find that GMX is a rebranding of the Gambit exchange, which was launched in 2017. In January 2022, GMX was also rolled out on the Avalanche (AVAX) network, which is an Ethereum Virtual Machine (EVM)-compatible blockchain.
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GMX is a decentralized spot and perpetual exchange that allows users to trade directly from their wallets without any intermediaries. Traders in perpetual contracts can also use up to 50x leverage on GMX.
The GMX token serves as both a utility and a governance token. GMX token holders have a say in the decision-making process and can influence the future of the DEX.
Furthermore, the token can be staked to receive various benefits, including a 30% share of all generated trading fees. In addition to the GMX token, the platform also has the GMX Liquidity Provider Token (GLP), which users receive when they provide liquidity to the platform. 70% of all trading fees go to holders of these GLP tokens.
JasmyCoin: An Ethereum-based Token
JasmyCoin is an ERC-20 token, which means it runs on the Ethereum blockchain. JasmyCoin was launched by Jasmy Inc., a company founded by former executives of Sony. It, like GMX, came into existence in 2017.
The Jasmy platform creates and maintains an infrastructure that enables data owners to securely store and exchange their data. It offers users complete control over who has access to their data. Furthermore, it allows users to track the usage of personal data and anonymize it during its use.
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Users can upload their personal data to a Jasmy Personal Data Locker (PDL) and receive JASMY tokens in return. Conversely, companies use JASMY tokens to gain access to this data.