HMX is a decentralized perpetual protocol with full margin and multi-asset collateral support currently running on Arbitrum. HMX provides users with the following unique features: 1. Leveraged Trading: Users can open long or short positions with up to 1,000x leverage on many asset classes, including cryptocurrencies, forex, and commodities. HMX also accepts a variety of crypto assets as collateral and offers cross-margin collateral support, allowing for flexible positioning and risk management strategies while offering low fees comparable to centralized exchanges. 2. Leveraged market making (HLP treasury): Users only need to deposit assets into the HLP treasury to become a market maker for HMX. The HLP Vault is unique because it is built on GMX’s GM token. This means that the liquidity deposited into the vault will be used to make markets for traders on GMX and HMX. Savers continue to receive 100% returns on GMX while also receiving additional benefits from fees generated by HMX.