GLP token
Overview
GLP is the legacy liquidity-provider token of GMX V1, a decentralized perpetual exchange on Arbitrum and Avalanche. It represents a basket of assets that backed leveraged trading, with liquidity providers earning a share of trading fees. Since GMX V1 was wound down in 2025, GLP is no longer mintable and has been superseded by GMX V2's isolated GM pools and GLV vaults.
Within the DeFi Intel graph, GLP connects to 2 tracked entities, most strongly to Pendle, GM.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|---|---|
lists_market_for | Pendle | 85% |
replaced_by | GM | 85% |
In-depth guides on GLP
- JLP/GLP Basis Trading Against Spot Markets — DeFi Intel
- JLP/GLP Hedging Strategies for Liquidity Providers — DeFi Intel
Frequently asked questions
What is GLP?
GLP is the liquidity provider token for GMX, a decentralized perpetual exchange on Arbitrum and Avalanche. It represents a basket of assets used as collateral for leveraged trading.
What chain does GLP run on?
GLP runs on Arbitrum and Avalanche, as it is the liquidity provider token for GMX on those chains.
What is GLP connected to?
GLP is connected to Pendle, which lists a market for GLP. It has also been replaced by GM.