A recent [Snapshot] (vote titled Staker-Driven Trading Fee Discounts & Performance-Based Leaderboard Incentives) was posted without going through the standard proposal process (Phases 1–2) The intent and initiative behind sharing ideas are always appreciated, but following the full proposal flow helps ensure fair community input and smoother governance decisions.
Parts of the proposal have already been implemented with the recent Snapshot vote that passed for the current marketing and trading incentives proposal, as staking is one of the ways for traders to earn multipliers.
The author of the Snapshot vote is encouraged to post the proposal on the forum for Community discussions to gather feedback from the community. Community discussions and feedback, and are encouraged throughout all phases.
Yeah it was weird seeing that vote up there, with 4 days before actual voting occurs.
The whole concept makes zero sense, because it effectively is rewarding existing large-quantity stakers, such as the top 3 or 4, with 90% trading fees.
These are the top 3-4 holders that voted for the proposals that got us from $62 to $6.2! That’s the actual price I see as I type this. Why on earth would you reward these people when they keep getting it wrong?
The upcoming Trader Incentive program’s design will include trading fee discounts based on your amount of staked GMX tokens - something GMX has been eager to introduce for a while now.