Hello GMX community,
I’m excited to share my thoughts on the next phase of our journey as active participants in GMX on Arbitrum. After successfully supporting the Short-term Incentive Program, I believe it’s time for us to consider building upon this momentum and creating a Long-term Incentive Plan that will not only benefit our community but also contribute to the lasting success of GMX.
Why a Long-term Incentive Plan?
While the Short-term Incentive Program has already demonstrated its potential to boost activity and engagement, we envision a more sustainable and enduring solution. By introducing a structured Long-term Incentive Plan, we aim to create an ecosystem where users are consistently motivated to participate and contribute to GMX’s growth.
Exploring New Horizons: An On-Chain Incentive Platform
In addition to proposing the Long-term Incentive Plan, I want to take this opportunity to share an exciting development. I am currently working on building an on-chain incentive platform designed specifically for GMX. This platform has the potential to revolutionize how we reward and engage with our community members. Before proceeding further, I want to gauge your interest in such an initiative and gather feedback on your expectations.
A Community Discussion and Feedback Gathering
This proposal is just the beginning of a broader conversation. I want to hear from you, our valued community members, on the specifics of this Long-term Incentive Plan. Over the next few weeks, we will be actively seeking your input and ideas to refine the details. Your feedback will shape the future of this initiative and ensure that it aligns with the collective vision of our community.
Key Components of the Long-term Incentive Plan:
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Incentive Structure: We will establish a comprehensive incentive structure that rewards users for their ongoing contributions. This structure will encompass various activities, including trading and staking, designed to cater to different preferences and skill sets within our community.
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XP Point System: To track and reward user engagement, we will implement an XP point system. Users will earn XP for every action they take within GMX, from trading and staking to participating in discussions and community events.
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Leaderboard: A dynamic leaderboard will be introduced to motivate users to complete tasks and quests. Users can see their progress and compare their rankings, fostering healthy competition and camaraderie within the community.
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Example Tasks:
- Trading (Frequency/Volume): Users can earn XP and rewards based on their trading frequency and trading volume.
- Staking (Volume): Staking activity will also be rewarded, encouraging users to lock in their assets for the long term.
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Badge Rewards for Leaders: To recognize and celebrate the most active and engaged users, we will create customized non-transferable, soulbound NFTs designed by the community. These badges will serve as a mark of honor within the GMX ecosystem.
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Seasonal Quests: To keep the excitement and engagement high, we will introduce seasonal quests that last for three months each. The top 30 participants in each season will receive customized non-transferable, soulbound NFTs as rewards.
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Winners’ Rewards: In addition to badges and NFTs, the top performers in each season will be allocated GMX tokens as a tangible reward for their dedication and contributions. These tokens will not only serve as an acknowledgment of their efforts but also provide economic benefits.
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Exclusive Raffle Participation: Winners of each season will receive an exclusive raffle participation ticket that is only available to season winners. This raffle will offer unique and valuable prizes, creating an additional incentive for users to excel.
The introduction of a Long-term Incentive Plan will not only drive greater engagement within our community but also ensure that GMX remains a thriving and innovative decentralized exchange on Arbitrum. By fostering an environment of continuous participation and rewarding our most active members, we can collectively contribute to GMX’s long-term success.
Let’s work together to shape the future of GMX and create an ecosystem where everyone can participate, thrive, and be rewarded for their contributions.
Stay tuned for updates and discussions on this exciting proposal! Your feedback and insights are invaluable as we embark on this journey together.