Hi everyone, I’ve been here almost since the start of gmx on arbitrum.
Today I would like to start a discussion about gmx fees from V1.
From the beginning, we wanted to make GLP attractive for LPs, so the fees were divided into 70%glp/30%gmx.
Over time, it should have changed to 50/50, which did not happen.
New version V2 is more capital efficient than V1. We can see enormous success of V2 and we know we are going in this direction.
As we could notice gmx apr is quite small and unattractive for new investors.
I propose that we change the GLP fee to 50/50 to boost gmx apr and make gmx more atractive to new investors. because the price of GMX is also important for the development of the entire ecosystem. Because it will attract more attention and therefore more potential investors to the entire ecosystem.
When we look at the chains we could expand to there are none so far… Most of the other chains have low volume and TVL. So I suggest that we start talking about esgmx boost to gmx stakers too.
I’m fully in support of this in the long term, potentially with incremental steps down from 70 to 50 to see what could be supported without collapsing the liquidity base.
It’s a good proposal but as $GMX has virtually no direct impact on platform usage, I don’t really agree that the price is important for the development of the entire ecosystem.
Liquidity providers brings more value to the protocol than $GMX holders, GLP holders in particular are taking risks against traders positions.
As GMX v1 is still widely used by many traders, this should be implemented carefully and slowly over time.
I also hold GMX bags but like MuzTSH I think the liquidity providers are more important for the ecosystem.
I would also note that there are other serious, low-risk staking opportunities for liquidity providers with current yields of >20%. Lowering yields on GM / GLP would incentivise LP’s to migrate to those solutions.
GMX yields will rise naturally as volume grows, multichain etc. No need to rush it.
