However, the loophole is that GMX offers trading to users at zero slippage, or the difference between the expected price of a trade and the price at which the trade is executed. But all pricing data on GMX is derived from centralized exchanges, such as Binance or FTX, meaning a trader could buy a large number of tokens, such as AVAX in this case, on zero slippage, rapidly drive up prices on centralized exchanges by placing buy orders on those venues and selling the initial position on GMX at higher prices.
Does the SAB 121 Vote Mean Anything for Future Crypto Legislation?
Unfortunately however, the legislative measure is now heading to the desk of President Joseph Biden, who has vowed to veto...