With the downfall of multiple exchanges in 2022, many users went to DeFi exchanges to make their trades, keeping custody of their crypto at all times and stopping the risk of an exchange becoming insolvent and users being unable to withdraw.
GMX became well-known for leverage trading on-chain, allowing users only to expose the assets they would be using as a margin to the risk and retaining custody of the rest of their capital when not trading. This shift from traders in Centralized Exchanges (CEX) to Decentralized Exchanges (DEX) was fully driven by the significant loss that users faced when exchanges like FTX and Celcius were shut down. As a result, traders also lost access to the many indicators and trading tools available to them on these CEXs, with the GMX platform being relatively limited.
Regardless, GMX price made a steady uptrend as users looked to use the platform, and hype began around it.
How Can Avorak AI Assist?
Avorak is a platform encompassing a large set of products, one of which is a self-learning trading bot. The bot will constantly monitor indicators and update the weight at which it deems these indicators effective based on the price action after they trigger. Essentially, by analyzing thousands of previous potential trades, it can streamline a strategy for each asset to ensure the highest win percentage possible. Users can then access these weighted indicators to execute manual trades themselves or allow the bot the place trades for them. These live trades will also contribute to the market learning that the bot does to improve further the trading success it delivers.
By combining these tools alongside DEXs like GMX, users can trade on-chain without passing control of assets to potential bad actors, like Sam Bankman-Fried, and ending up losing their entire account worth.
With tools like these, online streamers are bullish on Avorak and the AVRK token, which is used as a credit to be able to use these trading features. Finding crypto like this early will likely net buyers significant profits, as shown when the GMX price increased by multiples in only a short time.
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