Hello all,
I would like to suggest 2 topics for discussion,
First, Suggestion to distribute part of GMX staking rewards in USDC (or other stablecoin) and the other part to remain in GMX. That would push the buying pressure for GMX and reduce the sell off every time the APR is lowering/rising.
That would attract for sure SOL, ETH and other stakers and node validators into GMX projects since this project is still way undervalued and can deliver better APR’s than mentioned protocols.
Second, more and more CEX and DEX are making trading competitions on weekly and monthly basis. Some of them are based on PnL and trading volume, IMO that would rise the volume on a long term and make more fees that can be used for future use such as buyback, rising liquidity and better APR for the stakers
1 Like
There’s a fundamental flaw in your assumption that the less GMX we distribute the less selling pressure there would be… All the GMX that is to be distributed needs to be bought first hence the only thing you get to if you distribute less GMX is that you get less buy pressure in the first place. In fact, statistically speaking we know that a good portion of GMX that’s distributed is never even claimed (https://dune.com/saulius/gmx-analytics) hence the more GMX is given out the more stays locked up in what we could assume are dead addresses or users that never bother claiming and that decreases circulation/sell pressure more than giving everyone less GMX.
I do somewhat agree with you on attracting more users with events - I assume there is a bigger plan in regards to this that’s probably connected to launch of v2.2 but would be nice to get this confirmed.
2 Likes
As Tango mentions, distributing stablecoins would result in less buy pressure on the GMX token.
The trading competitions are a good point. They are being considered as part of the GMX Multichain rollout. Keep in mind that the GMX Blueberry Club is also organising recurring trading competitions with money rewards on GMX, see:
Agree with Jonezee. The current model of GMX buyback is very similar to a burn model.
Per Dune analytics, created by Saulius , most GMX is staked, less then 35% are sold. The mdel is more than perfect for now.