Summary
Following the community discussion and the Snapshot vote held in November 2024, the GMX community has approved providing initial liquidity for GMX-Solana. With the GMX bridge now live and operational, this proposal formalizes the next step transferring the approved funds to the GMX EVM multisig to bootstrap liquidity on GMX Solana.
Background
As part of GMX’s ongoing multi-chain expansion, the GMX-Solana initiative was introduced to bring the protocol’s proven model to the Solana ecosystem. The goal is to establish deep liquidity and create new trading opportunities while expanding GMX’s reach to a broader set of users and applications on Solana.
The initial proposal presented four options for community consideration:
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Option A: Don’t support
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Option B: $50,000 in USDC and $50,000 worth of GMX
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Option C: $100,000 in USDC and $100,000 worth of GMX
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Option D: $200,000 in USDC and $200,000 worth of GMX
After extensive discussion and community input, Option D received the most support on Snapshot signaling the community’s confidence in strongly backing GMX-Solana at launch.
This proposal authorizes the transfer of $200,000 in USDC and $200,000 worth of GMX from DAO treasury funds to the GMX-Solana EVM multisig, which will facilitate bridging and deployment of these assets as initial liquidity for the GMX–USDC pool on Solana.
Rationale
By seeding the GMX–USDC pool with $200K in USDC and $200K in GMX, the DAO enables the protocol to establish immediate market depth, smoother trading experiences from day one. This early liquidity provision helps attract traders and liquidity providers, drives protocol adoption, and strengthens GMX’s cross-chain presence. Ultimately, it positions GMX-Solana to grow sustainably while enhancing the overall liquidity network that supports GMX across ecosystems.
Conclusion
With the bridge now live and infrastructure in place, this transfer will enable GMX-Solana to establish deeper liquidity in the GMX–USDC pool. The initial bootstrapped liquidity will help create deep, liquid markets that provide strong support and immediate trading depth from day one.
If this proposal is approved, the GMX Security Council will oversee the transfer of the GMX tokens from the GMX Timelock Multi-Sig to the GMX Solana EVM Multi-Sig.
The proposal is now seeking community feedback and, following the discussion phase, will be taken to a Tally vote for final approval.
