Funds Request for Multiple Upcoming Marketing and Incentive Scheme Activities
Summary
This proposal outlines a request for marketing funds to be made available to a GMX-controlled Multi-Sig to facilitate a trader-focused marketing program aimed at rewarding GMX users and increasing trading volume across GMX deployments on Arbitrum, Avalanche, BNB Chain, Ethereum Mainnet, Base, and potentially MegaETH, while testing permanent incentive models. Based on community feedback and the upcoming MegaETH chain launch, the allocated budget has been increased from $2,150,000 to $3,150,000 to support expanded scope and execution.
A total allocation of $3,150,000 is requested for marketing and incentives, to be used across multiple activities including, but not limited to, MegaETH bootstrapping, KOL campaigns, incentive program testing and modeling, and general marketing initiative.
Background
GMX currently generates between $4 and $7B in monthly trading volume across all chains. To remain competitive with platforms that offer aggressive trader incentive programs, the platform needs effective mechanisms that reward active trading.
This proposal looks to secure funds for general marketing, bootstrapping, and to test a direct rebate system, in which trading fees flow back to active traders in proportion to their engagement with the platform.
Key goals are:
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To test whether fee rebates can sustainably drive volume growth while improving GMX’s competitive positioning.
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To reward user loyalty, boost the utility of the GMX token, and strengthen the relationship between GMX protocol activity and the token.
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Drive mindshare and user activity to key areas within the platform.
Below is an overview of what the requested funds would achieve:
Incentive Scheme Test
Example of what a future scheme might entail: traders will earn points and points multipliers through the following engagement pathways. All multipliers stack additively, with a hard cap.
Budget Allocation
Fee rebates can be used to offset up to a set percent of the open and close fees of future trades, which are rebated in GMX tokens. Points will be awarded to historical traders based on criteria to be set in a future post.
$2,000,000 USDC will purchase GMX from the open market at a rate matching the redemption of previous weeks’ points.
Example of structure
Staking
Staking GMX will offer one of the largest multipliers for gaining points on your perp trading volume.
Volume
Volume is the second largest points multiplier, with historical activity and the previous epoch’s’ average volume taken into account
Activity-Based Multipliers (Per-Trade)
Below is a list of currently planned platform activities that may give additional multipliers to points. There may be more added or removed depending on the activities and protocol elements GMX wishes to emphasize and incentivize.
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Multichain trading: trades executed from Base, BNB Chain, Ethereum Mainnet, MegaETH, etc
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Featured/New markets: trades executed on designated markets
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Balancing trades: trades that improve the Open Interest balance
Hard Cap: There is an undisclosed cap on multiplier stacking to prevent abuse.
Distribution Mechanics
Epoch Structure: 1 week (Wednesday 00:00 UTC - Tuesday 23:59 UTC)
Minimum Stake Duration: 7 days for multipliers to apply
Claims: Weekly distributions, every Wednesday 00:01 UTC
Cycle: Points are awarded for 1 week’s trading activity, and points are converted to fee rebates through the following week’s trading activity.
Rebate Form: Points*, GMX
Phases of Implementation
Phase 1: Community discussion and feedback
Phase 2: Snapshot vote
Phase 3: Dev / UX update, Marketing Promotion
Phase 4: Trading volume is recorded, and rebates are calculated offline and then manually sent to the distribution contact.
Success Metrics
The campaign will be evaluated on a set of criteria outlined in a future gov post specific to exact details of the program.
MegaETH Bootstrapping and Campaigns
Funds would be earmarked for use to draw liquidity and traders to the MegaETH deployment. With the use going towards but not limited to: incentivization of providing liquidity, trading, and other campaigns. The use of these funds would fall to the discretion of Contributors.
Budget
$500,000 for use in and around incentivizing and bootstrapping activity on MegaETH
Duration
Funds are for immediate use within the MegaETH ecosystem and will cover Q1 of 2026 with possible use in Q2 if the duration of activities spill over.
General Marketing activities
Funds would be earmarked for the use of marketing and promoting GMX across all of its deployments and through avenues to be evaluated and measured by Core Contributors.
Budget
$500,000 for use in and around the ecosystem to promote all aspects of GMX
Duration
Funds are for immediate use and will cover Q1 of 2026 with possible use in Q2 if the duration of marketing programs spill over.
KOL and Mindshare
Funds would be earmarked for use to draw attention to specific campaigns and the incentive test scheme. The activities would be in and around growing educational threads, social mindshare, and general targeting promotional activities deemed fit after extensive evaluation by Core Contributors
Budget:
$150,000 for use in and around the ecosystem to promote all aspects of GMX
Duration:
Funds are for immediate use and will cover Q1 of 2026 with possible use in Q2 if the duration of marketing programs spill over.
Conclusion
This proposal requests funds be made available to a Multi-Sig for rapid marketing activities in the Q1–Q2 interim period 2026 and introduces a competitive trader incentive program that directly rewards active GMX staking through rebates on future trading fees. It also encompasses liquidity incentives, new chain expansion initiatives, and the flexibility to support additional future incentive programs as needed. All unutilized funds will be returned to the DAO treasury, with contributors providing monthly reports to keep the DAO informed on incentive distribution and spending.