GLP is the platform's liquidity provider token.


GLP consists of an index of assets used for swaps and leverage trading. It can be minted using any index asset and burnt to redeem any index asset. The price for minting and redemption is calculated based on (total worth of assets in index including profits and losses of open positions) / (GLP supply).
For Arbitrum, holders of the GLP token earn Escrowed GMX rewards and 70% of platform fees distributed in ETH. For Avalanche, holders of the GLP token earn Escrowed GMX rewards and 70% of platform fees distributed in AVAX. Note that the fees distributed are based on the number after deducting referral rewards and the network costs of keepers, keeper costs are usually around 1% of the total fees.
Staked GLP token address (Arbitrum): 0x1aDDD80E6039594eE970E5872D247bf0414C8903
Staked GLP token address (Avalanche): 0x9e295B5B976a184B14aD8cd72413aD846C299660
Note that GLP is specific to the network you mint it on, it is not directly transferrable between networks and the price / rewards to the tokens will differ between networks.
As GLP holders provide liquidity for leverage trading, they will make a profit when leverage traders make a loss and vice versa. Past PnL data, GLP price chart and other stats can be viewed on

Minting and Redeeming

Minting GLP
  • Bridge any of the GLP tokens to Arbitrum / Avalanche, a list of GLP tokens can be found on the Dashboard.
    • Fees will be lower for tokens that the pool has less of, check the "Save on Fees" section to get the lowest fees
    • You should buy the token with the lowest fees from Ethereum and then bridge that token directly as these tokens are likely more expensive to purchase on Arbitrum
  • For Arbitrum, ensure that some ETH is bridged over as you need it to pay for the network fees
  • For Avalanche, ensure that you have some AVAX for network fees
  • Key in the amount of GLP you'd like to purchase on:
Fees for buying GLP will vary based on which assets the index has less or more of, the Buy GLP page will show which assets have the lowest fee.
After buying your tokens will automatically be staked and you will start earning Escrowed GMX and ETH / AVAX rewards, you can check your rewards at
Redeeming GLP
Key in the amount of GLP you'd like to redeem at Note that there is a minimum holding time of 15 minutes after minting before you can redeem GLP tokens.


The fees to mint GLP, burn GLP or to perform swaps will vary based on whether the action improves the balance of assets or reduces it. For example, if the index has a large percentage of ETH and a small percentage of USDC, actions which further increase the amount of ETH the index has will have a high fee while actions which reduces the amount of ETH the index has will have a low fee.
The token weights can be seen on the Dashboard.
Token weights are adjusted to help hedge GLP holders based on the open positions of traders. For example, if a lot of traders are long ETH, then ETH would have a higher token weight, if a lot of traders are short, then a higher token weight will be given to stablecoins.
If token prices are increasing, then the price of GLP will increase as well, even if a lot of traders have a long position on the platform. The portion reserved for long positions can be treated as stable in terms of its USD value since if prices increase the profits from that portion will be used to pay traders, and if prices decrease, the losses of traders will keep the USD value of the reserve portion the same.
If a lot of traders are short and larger weights are given to stablecoins, then GLP holders would have a synthetic exposure to the tokens being shorted, e.g. if ETH is being shorted then the price of GLP will decrease if the price of ETH decreases, if the price of ETH increases then the price of GLP will increase from the losses of the short positions.


Caution should be exercised when interacting with any smart contract or blockchain application. While risks are attempted to be mitigated through testing, audits and bug bounties, there is always a risk of vulnerabilities in smart contract code.
For details of contract operation please read the Contracts section.
Last modified 2mo ago
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Minting and Redeeming