TOTALLLYYYYY agreee!!! i want VOTE!!!
I am purely a token holder, bought on Binance a couple years back, after researching the project and its community. Really liked the mature DAO approach.
I agree with this proposal, and think the counter-argument that this would decrease yield for stakers, making new stakers come less (thus decreasing the GMX token value) is nonsensical. Right now, GMX has fallen out of top-200, and top-300, on most coin discovery websites. There’s not that much traction on X (hopefully marketing proposal can change that).
New stakers come when they find out about the project. One of the best ways to do that, probably, is token price. When I see any token pumping +20%, I immediately go and look at the project. If I see it consistantly outperforming the market, I try to do deeper research, and find out why it’s happening.
I think token price is by far the best marketing a crypto project can have. Hyperliquid dominates the narrative in part because it’s token has seen +1000% growth. ‘So the tech MUST be good then!’, a layman like me thinks.
I will continue to hold the token, my $10k, either to Valhalla or to zero.
In fact, I still think that Valhalla is possible, but current stakers obviously dominate the narrative.
2 Likes
I am against token burning.
Its a cheap trick for those who lack of other clever tokenomic ideas.
Any project which trying to “sell” me token burning mechanic as their ‘feature’ - clearly red flag for me. Burning of tokens (with fixed supply) - its pure economic infantilism. sorry.
2 Likes
i agree，after q say 90dollar，now，i agree all mild suggest
but i suggest buy from cex
my two cents, whenever a noob buys GMX the yield it gives is usually paid in GMX, thus if they not familiar with the product will simply think is an inflationary thing where more GMX is printed to give it to them and not actual yield (thanks to crypto ponzinomics)
now actual yield would be in a completely unrelated asset like ETH or USDC.
Anyway aside from that there is some examples where buy-back and burn did not add anything meaningful to the price, in the case of PumpFun. (Note: They may allegedly have dumped a lot of tokens on the other side) while doing a $1M buyback every day)
but at some point for Pump it should translate to the token pumping.
Also I would argue that GMX’s price constantly going up would be the best marketing more than any yield, in my experience tokens that hold value over time are more well respected than those who dump while giving yield making it meaningless really.
yes you earned this amount of yield but token dumped way more than that.
1 Like
Fair points for sure.