Great explanation and article! The whitepaper on this project is so confusing.

I am a GMX holder and it is raking in fees! I personally, bought on the ETH side because I would rather earn ETH rewards.

It may also be worth adding that one of the biggest holders is Arthur Hayes, the Bitmex co-founder. He's been in this space for a while and I don't mind copycat trading his picks!

You may also want to take a look at SNX on Optimism L2. It's mechanics are a bit different from GMX, but it caters to the same type of margin traders and distributes rewards to token holders. And since it's on Optimism, blue collar investors can now swim in the pond.