For now, still favor to remain as “DEX”.
Amazing guys lets do this GMX
Thank you @coinflipcanda ! Your added detail makes the deal seem a lot more palatable.
One additional contingency I would recommend:
Guaranteed 0% maker fees - even if we don’t hit tier 5 in trading volume (although I expect we’ll see $25M+ in monthly volume).
@EruditePepe you made some great points, particularly about the risk of FTX launching GMX perps. Even if they list futures for GMX and fuckery leads to a price crash, this isn’t going to make me sell. I’ll just enjoy the equivalently higher APR until the price goes back up. MP are such a great incentive to diamond hand.
I do share your concerns about the custodial nature of the relationship. I think as long as we are watching the US regulatory sentiment, we should be able to exit before SBF locks our tokens. This is really the only reason I could see FTX doing such a thing.
I think I will vote yes for this proposal for 2 main reasons:
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The massive volumes of FTX futures traders seems to indicate that this could be a great marketing play to expose these users to our beloved decentralized platform. Hopefully we can bring more whale volume onto our platform.
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I like the idea of retail investors buying and holding GMX on a CEX so they don’t get tempted to stake and dilute my APRs.
let’s go list them on ftx !
Did we do this for Bybit? do we own that liquidity there or they did it themselfs?
I am for the listing
cex is really a nice way to increase our visibility, it will be nice
Yes, the protocol indeed owns liquidity on Bybit
I’m for the list because i believe that every list increase the visibility of the project
There’s other listings on CEX, like MEXC, is this also our liquidity?
GMX Protocol controlled liquidity is deployed on Bybit and will be extended to FTX with the governance proposal that has now passed.
Other exchanges can and do listed GMX and currently support trading with their own liquidity if they deem it necessary
Sounds good. Is the same Market Maker Skynet going to be used as well?
Sounds great for GMX and the whole Arbitrum Chain.
sure why not. this could be good!
So, guys, whats up with GMX assets passed to FTX ? in context of last days events
Does anyone know how much stranded liquidity for $GMX is left on FTX?
Separately, can any of the GMX contributors comment on whether or not Alameda purchased or were given GMX (in vanilla form or esGMX) as part of this listing? I didn’t see it on the disclosed FTX-Alameda balance sheets but maybe GMX was small enough to get lumped into another line item…
Here’s the latest from Arbiscan (as of 11/16/22), no idea if data is trustworthy given FTX APIs are down:
With hindsight, @0x2B14b5 and @blueberryboy’s skepticism was 100% warranted, so good on you guys for being diligent and raising the right questions. Important for us to learn from this disaster and be judicious with who we associate with going forward.
Hope everyone is safe / relatively unscathed from this mess
upvote stranded liquidity question - how much was left on ftx?
GMX had some exposure to the FTX debacle due to our Market Maker facilitating a healthy market for the gmx token on FTX.
Alameda and Ftx did not receive any tokens, I can fairly confidently say.
As for the stranded liquidity, this is an important outstanding question I have no answer to.
Amen! After all this havoc that has been wreaked, there is at least one upside: Almost everyone is going to be very cautious and diligent with (even big) projects which will probably help other scam projects being detected and shared far earlier to prevent losses that go tou nearly three-digit billion losses…
Still I’d also be curious how much of the funds have gotten affected by this FTX nightmare.
If anyone knows more than above, please comment under my message - maybe we’ve got some Degens with ‘intel’-like information who’s sharing it with us?