GMX: Enhancing Fairness in the Referral System

I would suggest it is time to introduce a system where staking GMX tokens results in advantages for traders and referrers (akin to your GMSOL points mechanics).

  • Trading fee discounts, tiered based on the number of GMX staked
  • Increased referral rewards, tiered based on the number of GMX staked

This will strengthen the relationship between using the protocol and wanting to hold GMX tokens, which is important. And it increases the incentives for traders and community members to communicate about the protocol, which compounds this effect. This type of community marketing has been pivotal to GMX in the past.

2 Likes