On September 16, the on-chain trading platform GMX released a governance proposal, suggesting the allocation of $10 million from the treasury to establish a GMX token liquidity fund in the first phase. The fund will reference the total open interest across all chains; it will focus on buybacks when the circulating market cap of GMX is below the combined open interest, and will shift to providing liquidity when the circulating market cap is not less than the combined open interest. The subsequent roadmap includes cross-collateral and cross-margin models, market segmentation, net open interest contracts, RFQ, permissionless markets, Robinhood integration, and a new USDG LP product line. Additionally, GMX will initiate a GT buyback and distribute GT airdrops to GMX stakers, with specific details to be announced in future proposals.
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GMX Proposes $10 Million Token Liquidity Fund from Treasury and Initiates GT Buyback
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