# Welcome to PHAME ## What is PHAME? PHAME is a fork of GMX protocol (v1) with its own customized design in governance token staking and LP token mechanism (interoperability). It is essentially a decentralized and non-custodial perpetual exchange that emphasizes offering solutions for clear risk management, minimal transaction costs, and absolute transparency of users' funds. Traders can utilize cryptocurrencies like PLS, HEX, PLSX, and more, with leverage of up to 30x \~ 50x, all the while participating in revenue sharing if you choose to stake PHAME governance tokens. A distinctive multi-asset pool supports trading and generates fees for LP’s (liquidity providers) through market making, swap fees, and leveraged trading. We assume you have reasonable knowledge about GMX v1 protocol and their tokenomics. Please check [here](https://docs.gmx.io/docs/intro) for more details. ## What Solutions Does PHAME Offer for Current Issues? * Transparency * Self-custody * Removal of Middlemen * User-Friendly Interface * Differentiated tokenomics & LP mechanisms * Built by community, for community --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://ph-defi.gitbook.io/phame-protocol/welcome-to-phame.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.