Summary
The buy-wall floor mechanism is being activated for the March 18–25 weekly epoch, as part of the implementation of A Strategic Plan to Neutralize CEX Supply Overhang and Restore GMX Price Discovery. The floor price is set at $5.00 . If GMX trades at or below this level during the epoch window, buybacks will be executed across both onchain and centralized exchange venues.
Background
The strategic plan approved by governance included a treasury-backed buy-wall at the $5 level as a mechanism to absorb extreme overhang and accumulate tokens in the Treasury. Funds were authorized via two Tally votes:
- Treasury ETH Transfer for CEX Buy-Wall Execution — Tally
- Treasury Stablecoin Transfer for Buy-Wall & Incentives — Tally
These funds are currently held on the GMX POL multisig (view on Arbiscan) to support quick operational deployment.
Mechanism
- Floor price: $5.00
- Active window: March 18–25 (aligned with the next weekly epoch)
- Funding: Authorized via Tally votes (ETH, Stablecoin); funds held on the GMX POL multisig to support quick operational deployment.
- CEX execution: An iceberg order is already live on centralized exchanges. If the $5.00 floor is hit, the order will be supplemented with additional size from the authorized funds.
- Onchain execution: Parallel buying on DEX venues to enforce the floor wherever GMX liquidity exists.
What This Means
The floor is an epoch-scoped commitment. Each epoch’s floor parameters (price, duration, allocation) can be adjusted based on market conditions and governance input. Dual-venue execution with the iceberg already live on CEX and onchain buying ready to deploy ensures the floor is enforced wherever GMX liquidity exists, reducing the chance of price dislocation between venues.