In my extensive career, I've seen many platforms in the DeFi space, but GMX raises some red flags. While it offers leveraged trading and yield farming, the platform's security protocols are concerning. Despite undergoing a security audit, the lack of frequent updates and additional audits leaves room for vulnerabilities—something I've seen far too often.
GMX's financial backing is also a point of concern. Unlike other platforms I've evaluated, the details about its funding and partnerships are not transparent, which raises questions about its long-term viability.
The platform does offer a range of assets and high APYs, but these features can't fully mitigate the risks involved. My experience in the DeFi sector tells me that robust security and financial stability are crucial for long-term success, and GMX falls short in these areas.
50x leverage with no KYC? No thank you!!
In conclusion, while GMX offers some enticing features, its security measures and lack of financial transparency make it a risky choice. There's a lot of room for improvement, especially in the security audit department, before I could confidently recommend it. Show Less
