# GLP Compounder

## About $cGLP

Carbon Wrapped GLP (”$cGLP”) is a wrapped utility token that represents $GLP, the liquidity provider token of [GMX](https://gmx.io), a perpetuals trading platform on Arbitrum. 

$cGLP is an auto-compounding version of $GLP, which means that users can mint $cGLP by depositing $GLP into Carbon GLP Vault on Arbitrum, where the protocol compounds the [$ETH and $esGMX rewards](https://gmxio.gitbook.io/gmx/rewards) automatically. The amount of $cGLP remains fixed, but the cGLP/GLP exchange rate increases.

The introduction of $cGLP will grant Cosmos users access to the $GLP basket from Arbitrum.

Ensure that you have $GLP in your Metamask wallet. The following steps will guide you on:

{% content-ref url="glp-compounder/step-1-acquire-usdglp" %}
[step-1-acquire-usdglp](https://guide.dem.exchange/~/changes/REiUq5w3vfdfOKEL0jdy/earn/vaults/glp-compounder/step-1-acquire-usdglp)
{% endcontent-ref %}

{% content-ref url="glp-compounder/step-2-deposit-usdglp-withdraw-usdcglp" %}
[step-2-deposit-usdglp-withdraw-usdcglp](https://guide.dem.exchange/~/changes/REiUq5w3vfdfOKEL0jdy/earn/vaults/glp-compounder/step-2-deposit-usdglp-withdraw-usdcglp)
{% endcontent-ref %}

{% content-ref url="glp-compounder/step-3-deposit-usdcglp-onto-demex-carbon-chain" %}
[step-3-deposit-usdcglp-onto-demex-carbon-chain](https://guide.dem.exchange/~/changes/REiUq5w3vfdfOKEL0jdy/earn/vaults/glp-compounder/step-3-deposit-usdcglp-onto-demex-carbon-chain)
{% endcontent-ref %}