What I got so far is:
* GLP is the counterparty to GMX traders. If GMX traders win, the yield of GLP comes down.
* Its 50% stables and rest BTC ETH etc. So its affected by price of these tokens.
* The pool gets 70% of fees earned.
1. In the Arbitrum stats page, it says total fee earned $140m and if I read the traders’ netPL chart right, traders have won $29m overall. Does this mean that GLP overall distributed (70% of $140m) – $29m – (loss from BTC ETH holdings) as rewards to GLP holders?
2. GLP Arbitrum pool APR is 20% now and has been around same average in last few months. Does the current value of GLP 0.96 include all past yields?
3. I ask because the GLP price is hardly ever moving. It’s 0.96 now, but it was same 6 months ago and same around 1 year ago. Does this mean that GLP investors an year ago at 0.96 made no money?
Thanks and happy farming!
2 thoughts on “Some questions about GMX’s GLP pool”
The GLP token price itself is very stable. The yield is paid in ETH, with which you can buy more GLP or whatever else you like.
I’ve built up a bit of esGMX doing this, and it’s pretty confusing how to get it out. Has anyone done this who can walk me through it?