# GMX: Transition from “Buyback ETH and Distribute ETH” to “Buyback GMX and Distribute GMX” **URL:** \ **Category:** Proposals\ **Tags:** governance\ **Created:** [July 20, 2024, 2:23am UTC](https://gov.gmx.io/t/gmx-transition-from-buyback-eth-and-distribute-eth-to-buyback-gmx-and-distribute-gmx/3693 "2024-07-20T02:23:45Z")\ **Posts on this page:** 8\ **Page:** 4
**Author:** ![Alik1975](https://avatars.discourse-cdn.com/v4/letter/a/9dc877/32.png) [@Alik1975](https://gov.gmx.io/u/Alik1975)\ **Post date:** [September 14, 2024, 12:14am UTC](https://gov.gmx.io/t/gmx-transition-from-buyback-eth-and-distribute-eth-to-buyback-gmx-and-distribute-gmx/3693/61 "2024-09-14T00:14:51Z")
Team, 2 Months after the proposal passed. When this will finally be implemented? What is the update? ---
**Author:** ![Jonezee](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/jonezee/32/1238_2.png) [@Jonezee](https://gov.gmx.io/u/Jonezee)\ **Post date:** [September 14, 2024, 9:40am UTC](https://gov.gmx.io/t/gmx-transition-from-buyback-eth-and-distribute-eth-to-buyback-gmx-and-distribute-gmx/3693/62 "2024-09-14T09:40:16Z")
Work on some of the involved contracts is progressing, from what I understand. Once that’s done; an audit of the changes, and then it should be ready to deploy. ---
**Author:** ![FallingSands](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/fallingsands/32/1031_2.png) [@FallingSands](https://gov.gmx.io/u/FallingSands)\ **Post date:** [September 15, 2024, 6:16pm UTC](https://gov.gmx.io/t/gmx-transition-from-buyback-eth-and-distribute-eth-to-buyback-gmx-and-distribute-gmx/3693/63 "2024-09-15T18:16:31Z")
Thanks for the update Jonezee. A community member voicing dissatisfaction with development or governance progress has been a reoccurring event. I think the underlying issue is a lack of transparency between the core developers and the community. From the outside it might seem like nothing is happening. It would be outrageous to expect the team to maintain a public scrum board, but publishing a very brief roadmap that extended a few weeks into the future would allow the community to have realistic expectations about development times and team priorities. This could be as simple as a weekly discord post, with a sentence or two describing the goals of the team for each week, extending 4-8 weeks into the future. This way, when a proposal passes, the community can see its development progress, form realistic timeline expectations and make governance decisions that are more conscious of developer resources. The second issue I notice regards uncertainty about progressing from this forum to a snapshot vote. I don’t have any suggestions and I not sure anything needs to change, but formalizing the mechanism in writing might alleviate some confusion. I dont mean to hijack this thread with a different discussion, but I felt something needed to be said. ---
**Author:** ![Tano](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/tano/32/66_2.png) [@Tano](https://gov.gmx.io/u/Tano)\ **Post date:** [September 16, 2024, 1:32pm UTC](https://gov.gmx.io/t/gmx-transition-from-buyback-eth-and-distribute-eth-to-buyback-gmx-and-distribute-gmx/3693/64 "2024-09-16T13:32:36Z")
There are development updates happening every Friday which includes the past activities ‘big’ of the week. The current activites are mainly shown in the current governance votes and in these weekly updates. When something concrete has been finished it will always be mentioned in these updates. e.g. when Buyback and Distribute has been coded fully and is in audit, it will be mentioned in the development updates. I don’t think we need to focus to much on all small changes that are happening until the main things are finished, and for a legal perspective we cannot say too much of what’s happening for obvious reasons. I see that they’re also posted on the Twitter now on Mondays [x.com](https://x.com/GMX_IO/status/1835672548098334818) ---
**Author:** ![Jonezee](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/jonezee/32/1238_2.png) [@Jonezee](https://gov.gmx.io/u/Jonezee)\ **Post date:** [September 16, 2024, 3:26pm UTC](https://gov.gmx.io/t/gmx-transition-from-buyback-eth-and-distribute-eth-to-buyback-gmx-and-distribute-gmx/3693/65 "2024-09-16T15:26:33Z")
Appreciate the response, Sands. A lot is actively being shared in terms of development achievements. Let me list how, for those who feel like they’re missing out on this info: - There’s a weekly Development Update segment in every news announcement on Friday. This goes out on TG as well as in the GMX Discord via the Announcement channels. Ex: [Telegram: Contact @GMX\_Announcements](https://t.me/GMX_Announcements/830) - And there’s a separate, longer development summary GMX publishes roughly every month on all social channels. For example: > > **[GMX Announcements](https://t.me/GMX_Announcements/831)** > > The following updates have been completed by GMX's development contributors over the past weeks: > > 🔸 Two GMX Liquidity Vaults are now live: ETH-USD and BTC-USD > > GLV is an index of all GM pools with common collateral. It simplifies liquidity provision... That said, I understand the desire for a brief update that explains dev priorities for the _coming_ weeks/months. From what I understand, this is hampered by the potential legal difficulties associated with future-facing dev pronouncements. Any ‘promise’ of upcoming functionality is risky. Talking about work that has been completed, that is fine. What is currently being prioritised, can generally be gathered from the Snapshot votes: [Snapshot](https://snapshot.org/#/gmx.eth/) Roadmaps, though, are ambiguous in this regard. Is a roadmap a promise of what will be achieved, or just a guidepost for what devs would like to work on? Either way, the contributors are currently discussing how to share more of this vision for the future with the community. Please stay tuned. ---
**Author:** ![Alik1975](https://avatars.discourse-cdn.com/v4/letter/a/9dc877/32.png) [@Alik1975](https://gov.gmx.io/u/Alik1975)\ **Post date:** [October 15, 2024, 12:31am UTC](https://gov.gmx.io/t/gmx-transition-from-buyback-eth-and-distribute-eth-to-buyback-gmx-and-distribute-gmx/3693/66 "2024-10-15T00:31:40Z")
Team, what is the update? ---
**Author:** ![Jonezee](https://sea2.discourse-cdn.com/flex020/user_avatar/gov.gmx.io/jonezee/32/1238_2.png) [@Jonezee](https://gov.gmx.io/u/Jonezee)\ **Post date:** [October 15, 2024, 10:26am UTC](https://gov.gmx.io/t/gmx-transition-from-buyback-eth-and-distribute-eth-to-buyback-gmx-and-distribute-gmx/3693/67 "2024-10-15T10:26:51Z")
Here’s a status update: _🫐- **GMX Development** _ _• The audit for the updated RewardRouterV2 to support rewards in the GMX token is scheduled to complete today, the updated RewardRouterV2 contract should be deployed next week_ _• The code for the contract to buyback GMX has been completed, the audit for it will begin in the coming week_ ---
**Author:** ![Alik1975](https://avatars.discourse-cdn.com/v4/letter/a/9dc877/32.png) [@Alik1975](https://gov.gmx.io/u/Alik1975)\ **Post date:** [October 15, 2024, 6:02pm UTC](https://gov.gmx.io/t/gmx-transition-from-buyback-eth-and-distribute-eth-to-buyback-gmx-and-distribute-gmx/3693/68 "2024-10-15T18:02:50Z")
Great news, thanks for an update. [Previous page](https://gov.gmx.io/t/gmx-transition-from-buyback-eth-and-distribute-eth-to-buyback-gmx-and-distribute-gmx/3693.md?page=3)