HMX may be a good buy its at the bottom of its price range over the past year or so and the exchange seems to be very promising like a early GMX and it also is intertwined using a strategy that captures the ROI from GMX traders as well as HMX liquidity and offers esHMX, PYTH and other bonuses right now as the exchange is still in its launch phase compared to a more mature GMX. As HMX grows so will its revenues which get distributed to HMX stakers as well as HLP stakers which will make the token more valuable as the cash flows increase. I currently hold both interests in HMX, GMX, HLP, GLP as well and they have performed well for me. The GLP and HLP indexes provide liquidity to make the markets in the perp exchanges as well as benefit when the traders lose and also from liquidation fees that traders may experience. In a sense you not only collect the trading fees you bet against the people trading which lose on average 90% and 10% win according to rough statistics for trading in general. I would rather bet on the side that is 90% winning as well as collect fees. Can also hedge the underlying holdings with carry trades shorting based on the combined btc, eth etc to get additional fees and security on the positions.
HMX is currently much less than GMX and returns much more as well and will return more likely as the incentives go well into the next couple of years like GMX originally did when it launched. HMX holders and HLP holders also get some of the GMX arb airdrop as well. I use the cash flow from this to fund some of my gaming activities.
This is not financial advice FYI and nothing is it is just my personal holdings and opinions of someone who has traded for many years.
