$GMX
Staking: Holders of $GMX can stake their tokens and earn 30% of the protocol fees generated by the GMX protocol.
Boost Yield: Stakers of $GMX can also earn $esGMX and Multiplier Points (MPs) to further boost their yield.
Voting Rights: Owning $GMX grants voting rights to participate in the governance of the GMX protocol.

$esGMX
Staking: Holders of $esGMX can stake their tokens and further compound their $GMX staking yield.
Vesting: $esGMX can be vested and converted to $GMX after one year, allowing for long-term investment and governance participation.

$GLP
Automatic Staking: $GLP (LP token) holders are automatically staked and earn 70% of the protocol fees generated by the GMX protoc

Token holder incentives
$GMX and $esGMX token holders are incentivized by governance rights and rewarded in $esGMX, MPs, and 30% of the protocol fees. This provides an attractive opportunity for investors seeking a long-term hold and passive yield.

Liquidity provider rewards
Liquidity providers are incentivized to supply collateral and increase GLP pool size by receiving $esGMX and earning 70% of the protocol fees. This provides a lucrative opportunity for yield farmers looking for short-term gains. Overall, the staking mechanism creates a strong demand for both $GMX and $esGMX tokens.

GMX protocol offers decentralized trading with low swap fees, zero price impact trades, and enhanced security. Traders can leverage up to 30X for perpetual contracts and stake tokens to earn more yield, creating a sustainable ecosystem. GMX is a valuable alternative to centralized exchanges, providing unique token incentives, increased security, and lower fees for optimized trading experience.

Value accrual to token:
$GMX holders benefit from governance rights, allowing them to have a say in community funds. Additionally, $esGMX can be converted to $GMX after 1 year, providing long-term value by lowering circulating supply.

Value accrual to protocol:
GMX protocol generates revenue in $ETH/$AVAX, which is allocated to the treasury. This relieves $GMX emissions and provides a stable funding source for future development.

The business model for the GMX:

Revenue comes from:
Swap fees: 0.2%-0.8%
Trading fees: 0.1% of position size
Execution fees: collected in $ETH/$AVAX
Liquidation fees: depends on collateral type
Borrow fees: varies with GLP pool utilization

Revenue is denominated in:
$ETH/$AVAX and other applicable currencies

Revenue goes to:
Token holders who receive all platform fees
Increased protocol revenues increase token holders' value