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.
thank you so much I appreciate you sharing.
how to i participate in the proposal
The discussion takes place here, the voting takes place on Snapshot
GMX very goood lets goy
@Jonezee @Tano @coinflipcanda - we should spin up a public-facing tracker for these passed proposals sooner rather than later
Definitely on the agenda!
I actually like STFX and what they are achiving. However i donāt think 30M FDV is realistic and this OTC swap should be considered with muc ower FDV. Iām not sure even 10M$ is realistic rn.
The claim about STFX brings volume to GMX is also might be a bit misleading. We donāt know if new traders and new capitals are coming with STFX rn but iām sure it would effect at the bull run scenario.
Letās 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 couldnāt convince many traders to built up a position on STFX.io.
Thatās an excellent point on frontrunning (and MEV more holistically).
Ideally, you would want to pair this with some form of encrypted mempool / transaction privacy mechanism that is natively integrated with STFX + GMX.
Also agreed on valuation being rich given market and stage of this project.