FAQ
General questions to help you get started
Which protocols does Blueberry GLP Compounder support?
Blueberry GLP Compounder only supports Arbitrum at this time. Any assets from GMX on Avalanche will NOT be compatible.
What is GMX?
GMX is a decentralized exchange that supports low swap fees. Trading is supported by a multi-asset pool that earns fees that are shared with liquidity providers.
GMX is available on Arbitrum and Avalanche, but Blueberry GLP Compounder only supports Arbitrum at the moment.
You can find the GMX Docs here.
What is GLP?
GLP is the token that liquidity providers receive after they add assets into the liquidity pool. To get GLP, you must add one of the following Arbitrum assets into the pool:
ETH, WETH, WBTC, LINK, UNI, USDC, USDT, DAI, FRAX
Holders of GLP receive ETH rewards. You can get GLP here with any one of those assets listed above.
Does Blueberry GLP Compounder increase my GMX staking rewards?
No, currently Blueberry GLP Compounder only increases the APR of having a GLP position, but more features are continually being built out. Feedback and requests can be sent to the Discord.
Are my increased rewards propped up by a governance token?
No, your higher yields are created by automating the ETH reward claim process and the GLP buying process. These higher rates are not subsidized by governance tokens.
What are the risks associated with using Blueberry GLP Compounder?
The price of GLP changes, since the token is made up of a basket of the assets listed above. There is also the smart contract risk that comes with use of anything in web3.
How can I ask more questions?
We have a strong (and growing) community. Feel free to ask your questions to the community or directly to any of the moderators:
Last updated