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GMX Proposes Allocating $10 Million From Its Treasury to Establish a Token Market-Making Fund and Launch GT Buybacks

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Mars Finance reports that on-chain trading platform GMX has released a governance proposal to initially allocate $10 million from its treasury to establish a market-making fund for the GMX token. The fund will use aggregated open interest across all chains as its benchmark. When GMX’s circulating market capitalization is lower than aggregated OI, the fund will focus primarily on buybacks; when its circulating market capitalization is not lower than aggregated OI, it will shift to providing liquidity. The proposal also discloses a subsequent roadmap, including cross-collateral and cross-margin modes, market grouping, net open interest, RFQ, permissionless markets, Robinhood integration, and a new USDG LP product line. In addition, GMX will launch GT buybacks and conduct a GT airdrop for GMX stakers. Specific details will be announced in subsequent proposals.
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RarityRenter
4 hours ago
I really didn’t expect a Robinhood integration—is traditional finance traffic coming in?
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VolGuardian
5 hours ago
Cross-collateralization + permissionless markets—this roadmap is ambitious. Hopefully the execution doesn’t fall flat.
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L2Pioneer
5 hours ago
Bring on the details of the GT airdrop for stakers—I can’t wait to see the rules.
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TxNinja
6 hours ago
The $10 million market-making fund is fairly modest in size; the key is whether the subsequent USDG LP can get off the ground.
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PyramidAdd
6 hours ago
First Review
The buyback logic is quite interesting: only stepping in when the market cap falls below the combined OI is much smarter than blindly propping up the price.
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