What is GLP?

GLP is GMX’s LP token, consist of a basket of tokens like ETH, BTC, USDC, LINK, UNI, FRAX. The GLP token value changes depending on the value of tokens in the basket. By holding GLP, you earn 15% — 30% APY in ETH which comes from the trading fees collected on GMX, as well as esGMX tokens which can be staked to earn more trading fee yield.