Thanks. What is your opinion on the economic alignment point?
I still think an outright token swap is unnecessary for product alignment (which is really what matters here) and I think this is not what our treasury ought to be used for. This isn’t really “operational” or “capital-raising” in nature, which in my mind are the two roles of treasury tokens.
That said, I am somewhat sympathetic to some of the points @STFX has made here and appreciate some of the additional detail / transparency provided.
These token swap funds would come out of GMX’s marketing fund, technically. The “1 million GMX tokens reserved for marketing, partnerships and community developers”, as the Gitbook describes them. So I feel this expenditure would be in line with what the funds are earmarked for.
I’m sympathetic to the idea that the protocol’s capital should be allocated conservatively, that said. And some of your mentioned alternative ideas for achieving further GMX-STFX community alignment are excellent, and should be taken to heart…
A joint mobile app, an STFX-features integrated front-end; I would love to see those realized. Because they would exemplify the synergistic value-add relationship between the two protocols.
But that type of deep, longterm collaboration is expensive and time consuming - unlikely to materialise without first cultivating mutual faith, close contact, an aligned vision. Personally, this proposal feels to me like it helps lay the foundations for just that.
In current market scenario, I think FDV of 30M of STFX is just too high. It should be around 10-12M, not more than that. They only have alpha version at this moment, and given that such copy to trade platforms have already failed in the pasts, the risk is too high.
I think GMX team also need to have a look at it and have their say on this, 30M FDV is just too high.
I actually like STFX and what they are achiving. However i don’t think 30M FDV is realistic and this OTC swap should be considered with muc ower FDV. I’m not sure even 10M$ is realistic rn.
The claim about STFX brings volume to GMX is also might be a bit misleading. We don’t know if new traders and new capitals are coming with STFX rn but i’m sure it would effect at the bull run scenario.
Let’s consider FDV again. Maybe swap should be done after STFX TGE to be safe.
One question; what STFX tokens brings to GMX? Does that generate yields? I know STFX has a cut from traders pnls. Could u elobrate tokenomics a bit?
Side note; this kind of protocols have front-running problems. I know u have some mechanicism for that but still i couldn’t convince many traders to built up a position on STFX.io.