# GMSOL or GMX-SOLANA? Decide then Sail **URL:** \ **Category:** Proposals\ **Tags:** governance\ **Created:** [September 30, 2024, 12:11pm UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938 "2024-09-30T12:11:04Z")\ **Posts on this page:** 16\ **Page:** 1
**Author:** ![gmsolq](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/gmsolq/32/1307_2.png) [@gmsolq](https://gov.gmx.io/u/gmsolq)\ **Post date:** [September 30, 2024, 12:11pm UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/1 "2024-09-30T12:11:04Z")
![image](https://us1.discourse-cdn.com/flex020/uploads/gmx/original/2X/9/95abe8f301d23e464ec13c7a140ab9ece967fbef.jpeg) **[GMSOL: Bringing GMX V2 to Solana and realizing the trinity of decentralized leverage trading](https://gov.gmx.io/t/gmsol-bringing-gmx-v2-to-solana-and-realizing-the-trinity-of-decentralized-leverage-trading/3430)** In this proposal, we explored the goals of GMSOL in detail. ![image](https://us1.discourse-cdn.com/flex020/uploads/gmx/original/2X/a/a4946e5c07e75e04f4b790b9b746e78171abcceb.png) After nearly seven months of continuous development, the core development work for GMSOL v0.2 is nearing completion. All migrations from GMX V2, including the latest Shift and GLV, have been completed. The contract is currently pending further progress from our partners on the Solana deployment to finalize the integration. Some frontend modules related to GMSOL v0.2 also require adjustments based on partner‘s integration. We are working towards completing a preview version on Solana Devnet as soon as possible and allowing all users to test it. The core overview of GMSOL is as follows: 1. **GMSOL will fully align with GMX V2** in terms of model and will primarily rely on GLV to provide liquidity to the entire market. The core code of GMSOL will be open-sourced after audits and before launch. Currently, the code can be viewed through the invitations, where GMX Delegates can apply for the access. 2. **60% of the fees will be allocated to the GMSOL Treasury** , which will consist of 50% for buyback of GMX and 50% held in USDC. 3. Once the GMSOL Treasury reaches a certain scale, **GLV: GMX-USDC will be deployed** , and GMX will become a global liquidity token, providing liquidity to all markets supported by **Chainlink Data Streams**. This also prepares initial liquidity for potential deployment on more chains in the future. The GMSOL Treasury will be the key foundation for GMX becoming a global liquidity token across chains. 4. The address of the GMSOL Treasury will be public, with a **3/5 multi-signature structure** : GMX Core Contributors will control 3 signatures, while GMSOL Core Contributors will control 2 signatures. 5. **GMSOL and the GMSOL Treasury will be fully managed and supervised by GMX DAO** , but the initial updates to contracts and maintenance of risk parameters will be handled by a council made up of founding team members. Over time, as the project and community evolve, the governance structure will gradually achieve full decentralization. This governance structure ensures the project’s stable development while maximizing the safety of funds and maintaining close ties with the GMX community. Building on the original proposal, Xdev believes there should also be a vote on the name of GMSOL, choosing between **GMX-SOLANA** and **GMSOL**. The logo can remain unchanged, and there can be separate Twitter and Telegram groups. Xdev thinks that GMX-Solana might sound better to users, and since the GMX brand is owned by the community, it would be up to the community to grant permission for this usage. Xdev has also purchased the domain **gmx.sol** as a backup option. We agree with Xdev’s analysis and acknowledge that both GMX-SOLANA and GMSOL have their own advantages. This matter should be left to the community to decide. Therefore, the vote will include four points: 1. **Should GMX DAO authorize GMSOL (GMX-SOLANA) to use the GMX V2 model and frontend code**? GMX DAO would also retain the rights to GMSOL’s current and future models and code. 2. **Should GMX DAO authorize the GMX Treasury to fund GMSOL (GMX-SOLANA)'s first audit**, with a cap of $250k? 3. **Name choice: GMSOL or GMX-SOLANA?** 4. **Domain choice: gmsol.pro or gmx.sol?** (Note: The domain choice is independent of the name choice, meaning any combination is possible: (GMSOL, gmx.sol), (GMSOL, gmsol.pro), (GMX-SOLANA, gmx.sol), (GMX-SOLANA, gmsol.pro)). Since many of these critical issues have been sufficiently discussed in the initial proposal and there is broad consensus, we need to move forward as quickly as possible to meet key milestones/events for release. Therefore, this proposal will be put to a Snapshot vote in 5 days, and the vote will last for 5 days. ![image](https://us1.discourse-cdn.com/flex020/uploads/gmx/original/2X/3/31c5fc66f553ece20e42252eb9fde1aaf60f942b.jpeg) ---
**Author:** ![Jonezee](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/jonezee/32/1238_2.png) [@Jonezee](https://gov.gmx.io/u/Jonezee)\ **Post date:** [September 30, 2024, 12:14pm UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/2 "2024-09-30T12:14:02Z")
Thanks for the update about the progress, Q; great to see. Look forward to hearing people’s take on the pros and cons of the two names. ---
**Author:** ![XM\_GBC](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/xm_gbc/32/1235_2.png) [@XM\_GBC](https://gov.gmx.io/u/XM_GBC)\ **Post date:** [September 30, 2024, 6:02pm UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/3 "2024-09-30T18:02:28Z")
gm, thanks for the update, really great to see things moving forward, here are my thoughts: 1. Yes. It allows for a quick and efficient integration while ensuring a smooth user experience. Plus, the DAO keeps the rights to future models, which helps protect the GMX ecosystem. 2. Yes. An audit is crucial to ensure the project’s security and build trust. Its in GMX’s best interest to make sure any project within its ecosystem adheres to the highest security standards. 3. GMX-SOLANA. While GMSOL is short and catchy, GMX-SOLANA is more descriptive and instantly connects with the Solana ecosystem. It helps leverage the GMX brand and makes the project more accessible to users outside the GMX ecosystem, this name could appeal to a wider audience, some of whom might not be drawn to “GMSOL” alone. 4. gmx.sol. Its better aligned with the brand and much easier for users to remember. I look forward to seeing how your proposal takes shape 🫐 ---
**Author:** ![Tano](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/tano/32/66_2.png) [@Tano](https://gov.gmx.io/u/Tano)\ **Post date:** [September 30, 2024, 6:05pm UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/4 "2024-09-30T18:05:15Z")
As a GMX delegate below are my views of each of the points: > [@gmsolq](#): > > - **Should GMX DAO authorize GMSOL (GMX-SOLANA) to use the GMX V2 model and frontend code**? GMX DAO would also retain the rights to GMSOL’s current and future models and code. > Easy yes, let’s build both upon the v2 contracts and make the code better together. > > - **Should GMX DAO authorize the GMX Treasury to fund GMSOL (GMX-SOLANA)'s first audit**, with a cap of $250k? > Yes, GMX holders should be incentivising the audit as it will benefit GMX holders mostly, so as a delegate fully support funding an audit (hopefully with Guardian) > > - **Name choice: GMSOL or GMX-SOLANA?** > No strong objections here for either, I think GMSOL sounds better, but GMX Solana might be more familiar for other users as it includes GMX. > > - **Domain choice: gmsol.pro or gmx.sol?** (Note: The domain choice is independent of the name choice, meaning any combination is possible: (GMSOL, gmx.sol), (GMSOL, gmsol.pro), (GMX-SOLANA, gmx.sol), (GMX-SOLANA, gmsol.pro)). > gmx.sol makes most sense imo ---
**Author:** ![Alik1975](https://avatars.discourse-cdn.com/v4/letter/a/9dc877/32.png) [@Alik1975](https://gov.gmx.io/u/Alik1975)\ **Post date:** [September 30, 2024, 11:34pm UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/5 "2024-09-30T23:34:21Z")
I think GMX-Solana will be better since its very familiar to people who has no association with GM. ---
**Author:** ![Seraph](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/seraph/32/533_2.png) [@Seraph](https://gov.gmx.io/u/Seraph)\ **Post date:** [October 1, 2024, 2:36am UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/6 "2024-10-01T02:36:53Z")
1. YES. All in a family. 2. Yup, lets build a safe environment for all part of the ecosystem of GMX. 3. GMX-Solana - creating clear official links to GMX for those traders and LP who knows that GMX is an established brand 4. gmx.sol is so much neater. > [@gmsolq](#): > > the vote will include four points: > > 1. **Should GMX DAO authorize GMSOL (GMX-SOLANA) to use the GMX V2 model and frontend code**? GMX DAO would also retain the rights to GMSOL’s current and future models and code. > 2. **Should GMX DAO authorize the GMX Treasury to fund GMSOL (GMX-SOLANA)'s first audit**, with a cap of $250k? > 3. **Name choice: GMSOL or GMX-SOLANA?** > 4. **Domain choice: gmsol.pro or gmx.sol?** (Note: The domain choice is independent of the name choice, meaning any combination is possible: (GMSOL, gmx.sol), (GMSOL, gmsol.pro), (GMX-SOLANA, gmx.sol), (GMX-SOLANA, gmsol.pro)). ---
**Author:** ![Time\_Research](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/time_research/32/1184_2.png) [@Time\_Research](https://gov.gmx.io/u/Time_Research)\ **Post date:** [October 1, 2024, 7:01am UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/7 "2024-10-01T07:01:47Z")
We are very pleased to see GMX-SOL making its way into the Solana ecosystem. This is an important and positive step forward. However, we believe that the name “GMX-SOLANA” would be more appropriate, as “GMSOL” may cause confusion with the GM-SOL pool in GMX V2. Additionally, we should carefully consider the fee distribution structure. If 60% of the total fees go to the treasury, it could impact our ability to attract TVL and compete effectively with JLP on Solana. Given that the yield for GMX V2 on Arbitrum is already low, introducing a new chain with an even lower yield could be challenging. ---
**Author:** ![gmsolq](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/gmsolq/32/1307_2.png) [@gmsolq](https://gov.gmx.io/u/gmsolq)\ **Post date:** [October 2, 2024, 2:01am UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/8 "2024-10-02T02:01:53Z")
Hi Time Research @Time_Research , Thank you for raising this important question, which has also been discussed within the community. Below is our perspective for your reference and further discussion. I agree that 30% for LPs may not seem like much, but it’s important to clarify that GMSOL does not directly take 60%. The mechanism works like this: for traders, we will implement a “Trade to Mint” mechanism, meaning that traders’ transaction fees will mint a certain amount of GMSOL tokens/points. The GMSOL treasury will maintain liquidity and value by conducting daily buybacks of these tokens/points. For traders, GMSOL tokens/points will serve as rebates, significantly reducing or even completely offsetting transaction costs. Our approach offers LPs a 30% real yield, but by substantially lowering transaction costs, we aim to maximize trading activity, thereby increasing value for LPs. This is in contrast to a plan where 90% is allocated to LPs, which is something GMSOL could technically achieve. However, the GMSOL treasury is fundamentally designed to operate “from traders and for traders,” ensuring a balanced system that benefits all participants. ---
**Author:** ![Vaultka](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/vaultka/32/633_2.png) [@Vaultka](https://gov.gmx.io/u/Vaultka)\ **Post date:** [October 2, 2024, 2:10am UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/9 "2024-10-02T02:10:16Z")
1. We support GMX DAO in authorizing GMSOL to use the GMX V2 model and code to ensure the smooth development of GMSOL, while retaining the rights to GMSOL’s future model and code. 2. Yes, we strongly support for GMSOL performing an audit, as the protocol’s security is the top priority. While aligning with the best interests of GMX’s ecosystem. 3. No general actual preference; both options are acceptable. 4. No general preference, but gmx.sol or [gmxsol.pro](http://gmxsol.pro) are more recognizable. ---
**Author:** ![PGov](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/pgov/32/1484_2.png) [@PGov](https://gov.gmx.io/u/PGov)\ **Post date:** [October 2, 2024, 7:29am UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/10 "2024-10-02T07:29:50Z")
It’s nice to see the strong support for authorizing GMSOL (GMX-SOLANA) to use the GMX V2 model and frontend code. Regarding the name, while there are valid points on both sides, we are in favor of what seems to be what the community is leaning slightly towards: ‘GMX-SOLANA’, for its clarity and alignment with the Solana ecosystem. For the domain, ‘gmx.sol’ seems to be a clear favorite for its brand consistency and ease of use, and we agree. Looking forward to the Snapshot vote! ---
**Author:** ![Jonezee](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/jonezee/32/1238_2.png) [@Jonezee](https://gov.gmx.io/u/Jonezee)\ **Post date:** [October 3, 2024, 2:49pm UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/11 "2024-10-03T14:49:57Z")
> [@gmsolq](#): > > - **Should GMX DAO authorize GMSOL (GMX-SOLANA) to use the GMX V2 model and frontend code**? GMX DAO would also retain the rights to GMSOL’s current and future models and code. > - **Should GMX DAO authorize the GMX Treasury to fund GMSOL (GMX-SOLANA)'s first audit**, with a cap of $250k? > - **Name choice: GMSOL or GMX-SOLANA?** > - **Domain choice: gmsol.pro or gmx.sol?** (Note: The domain choice is independent of the name choice, meaning any combination is possible: (GMSOL, gmx.sol), (GMSOL, gmsol.pro), (GMX-SOLANA, gmx.sol), (GMX-SOLANA, gmsol.pro)). As a community contributor, I’d lean towards; 1. Yes GMX DAO should authorize GMX-SOLANA to use GMX V2 2. Yes contributing to the audit feels fitting, considering the strong alignment between the two projects in revenue and tokenomics 3. For branding purposes, I prefer GMX-SOLANA 4. gmx.sol feels like the way to go ---
**Author:** ![coinflipcanda](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/coinflipcanda/32/207_2.png) [@coinflipcanda](https://gov.gmx.io/u/coinflipcanda)\ **Post date:** [October 4, 2024, 6:28am UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/12 "2024-10-04T06:28:14Z")
> [@gmsolq](#): > > **GMSOL will fully align with GMX V2** in terms of model and will primarily rely on GLV to provide liquidity to the entire market. The core code of GMSOL will be open-sourced after audits and before launch. Currently, the code can be viewed through the invitations, where GMX Delegates can apply for the access. @gmsolq just to clarify, so there isn’t confusion on the communities understanding of the language. The source code will be open sourced means that it will be made public following in the tradition of GMX to ensuring our code is open and publicly verifiable. It doesn’t mean that it will be open for replication under an MIT type license, but instead will be placed under a business license. The license should be for (i) a period of time no shorter than the license that is held on the GMX V2 code base, (ii) a royalty free perpetual license to re-use any part of the code base provided to GMX Labs for the benefit of the GMX DAO and (iii) a restriction on further licensing the GMX Solana code base or deploying outside of Solana. ---
**Author:** ![FallingSands](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/fallingsands/32/1031_2.png) [@FallingSands](https://gov.gmx.io/u/FallingSands)\ **Post date:** [October 5, 2024, 6:18am UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/13 "2024-10-05T06:18:24Z")
1. Yes 2. Yes 3. Why not simply GMX SOL? four syllables is better than six 4. gmx.sol. see previous ---
**Author:** ![woofbark](https://avatars.discourse-cdn.com/v4/letter/w/dec6dc/32.png) [@woofbark](https://gov.gmx.io/u/woofbark)\ **Post date:** [October 6, 2024, 1:14pm UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/14 "2024-10-06T13:14:55Z")
yes to the first 2 3,GMX SOL keeps the GMX branding, I think any chain that we operate on should always be GMX-!!! I think it will lead to brand recognition 4, gmx.sol same reason as above ---
**Author:** ![CastleCapital](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/castlecapital/32/559_2.png) [@CastleCapital](https://gov.gmx.io/u/CastleCapital)\ **Post date:** [October 7, 2024, 9:05am UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/15 "2024-10-07T09:05:46Z")
We are **in favor** of the GMSOL (GMX-SOLANA) proposal as it represents a significant step in expanding GMX’s footprint into the Solana ecosystem while leveraging its proven V2 model. Below are our positions on key points raised: ### Key Points: 1. **Audit Funding** : 2. **Fee Structure** : 3. **Naming and Branding** : * * * ### Answering Direct Questions: 1. **Authorize GMSOL (GMX-SOLANA) to use the GMX V2 model and frontend code**? 2. **Authorize GMX Treasury to fund the first audit with a $250k cap?** 3. **Name Choice: GMSOL or GMX-SOLANA?** 4. **Domain Choice: [gmsol.pro](http://gmsol.pro/) or gmx.sol?** * * * In conclusion, we believe that GMSOL (GMX-SOLANA) is a strategic expansion that will benefit both GMX and the Solana ecosystem. With the right security measures and competitive fee structures in place, it has the potential to be a strong addition to the GMX family. ---
**Author:** ![Snipermonke01](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/snipermonke01/32/602_2.png) [@Snipermonke01](https://gov.gmx.io/u/Snipermonke01)\ **Post date:** [October 11, 2024, 8:54am UTC](https://gov.gmx.io/t/gmsol-or-gmx-solana-decide-then-sail/3938/16 "2024-10-11T08:54:42Z")
Thank you for the proposal, its been long since anticipated! 1. **Should GMX DAO authorize GMSOL (GMX-SOLANA) to use the GMX V2 model and frontend code**? GMX DAO would also retain the rights to GMSOL’s current and future models and code. I support this request, so long as GMX and the DAO remain the primary beneficiaries of its usage. 1. **Should GMX DAO authorize the GMX Treasury to fund GMSOL (GMX-SOLANA)'s first audit**, with a cap of $250k? I think it is reasonable for the DAO to authorise the spend to cover the costs, up to a cap of $250k. If costs exceed this initial estimate it is worth discussing further. 1. **Name choice: GMSOL or GMX-SOLANA?** GMX-SOLANA is the preferred choice purely for brand recognition purposes. 1. **Domain choice: gmsol.pro or gmx.sol?** (Note: The domain choice is independent of the name choice, meaning any combination is possible: (GMSOL, gmx.sol), (GMSOL, gmsol.pro), (GMX-SOLANA, gmx.sol), (GMX-SOLANA, gmsol.pro)). gmx.sol makes most sense given the preference for the name “GMX-SOLANA” Looking forward to the next steps in the journey.