GM Index

GMX Market Index (GMI) is an ERC-20 index token made up of GMX market tokens. Presently, the index includes gmBTC, gmETH, gmSOL, and gmUSDC-USDT, with the potential to add other assets in the future. The portfolio weights of these assets are algorithmically determined by Gloop's proprietary optimizer, to provide an optimal risk-return ratio. To maintain the index at its target weights, fees are adjusted in response to variations in the targeted pool weights.

For GMI Depositors, the benefits extend to long-term holding through reflections embedded within the token. The fee structure involves nominal deposit and withdrawal fees, with these fees serving multiple purposes.

They contribute to bonus rewards for GMI holders through the reflection mechanism, enhancing liquidity for looping, and generating yield for GLOOP holders. This fee system is designed to incentivize participation, reinforce the ecosystem, and provide a sustainable model for all stakeholders involved.