What is HMX?
HMX is a next-generation decentralized perpetual exchange built on the Arbitrum network, offering cross-margin and multi-asset collateral support. This innovative platform allows traders to leverage up to 1,000x across various asset classes, including cryptocurrencies, forex, and commodities. HMX aims to tackle common issues in the DeFi space such as high fees and limited collateral options by introducing unique mechanisms and incentives.
HMX supports leveraged trading with advanced features like cross-margin functionality, enabling users to pool multiple types of assets as collateral. This flexibility enhances capital efficiency and makes the platform more accessible to a broader range of investors. The platform also employs an adaptive pricing mechanism that dynamically adjusts prices based on the balance of long and short open interests, ensuring fair and balanced trading conditions.
A key feature of HMX is its leveraged market-making capability, where users can deposit assets into the HLP vault to market make on both HMX and GMX simultaneously, maximizing real yield generation from compounded yields and additional fees.