New Potential GM Listings - Q1 2024

To discuss the next set which were mentioned here.

Happy with all these, i think they capture the attention of the market and will be heavily traded markets in the coming months (unsure of demand on DOT however).

Would like the option for some meme coins too (if we feel these are going to under the spot light), perhaps PEPE or WIF (given its recent listing on binance)

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Agree that DOT is the most likely to be the underperformer of the bunch. The Polkadot ecosystem doesn’t have a lot of mindshare at the moment.

And I second the importance of looking at the leading memecoins, considering the stage of the market cycle. We’ve got a DOGE market; Shib, Pepe, Bonk and Wif would be the obvious next contenders.

For reference : https://www.coingecko.com/en/categories/meme-token

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I fully agree on that. It would be nice to have more meme coins

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I think we should definitely explore additional MEME coins that have proven staying power. We have doge right now so why not PEPE?

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I second that DOT should be replaced with a more relevant asset at this time. TBH I’m shocked its trading metrics are still so high.

@Jonezee:

  • What are the limiting factors for listing new markets?
  • Are Chainlink price feeds required for both synthetic and bridged GM pools?
  • How much time/labor is required by the Dev team to assess bridge risk, market manipulation risks and deploy pools for assets that don’t have complications like the Matic → POL migration?

Is it possible for 3-5 new asset listings a week? What is the opportunity cost of that?

It seems to me that there are a plethora of possible asset integrations that have significant demand and would grow the GMX protocol’s revenue stream. Both “serious” projects and memes, although we should be careful to pick memes with staying power, not flashes in the pan.

SUI, ORDI, STX, TIA are all great options with great metrics.

  • PEPE ------------------ #4 in Trading Volume, #8 in IO
  • SHIB ------------------ #5 in Trading Volume, #20 in IO
  • WIF-------------------- #7 in in Trading Volume, #27 IO
  • WorldCoin ---------- #11 in Trading Volume, #26 in IO
  • Filecoin -------------- #12 in Trading Volume, #11 in IO
  • OP --------------------- #17 in Trading Volume, #17 in IO (passed the vote, still coming?)
  • BONK----------------- #21 in in Trading Volume, #10 IO
  • Aptos----------------- #23 in in Trading Volume, #23 IO
  • RNDR ---------------- #25 in Trading Volume, #28 in IO
  • Fantom---------------#32 in in Trading Volume, #29 IO
  • Arweave -------------#40 in in Trading Volume, #42 IO
  • Injective------------- #43 in in Trading Volume, #25 IO

Other good options with reasonable demand:
ENS, CRV, TAO, MANTA, PYTH, TRX, JUP, DYDX, SNX, IMX, BEAM, XMR, RUNE, RDNT, FXS, RPL, STRK, PENDLE.

Finally, I want to make the case for creating a GMX/USD GM pool.
This market would:

  • Create a supply sink for GMX tokens reducing liquidity in the GMX spot market
  • Provide optional utility and strategies for GMX holders
  • Incentivize some participants to leave the staking pool to LP

Which causes:
Increased GMX staking yield → Increased GMX spot volume, volatility, and price → increased demand for GMX token derivatives → increased yield to GMX GM pool LPs → more GMX holders leaving the staking pool to LP → Increased GMX staking yield.
…and we see flywheel take shape.

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Quick answers;

  • The limiting factors are sufficient CEX+DEX liquidity, the availability of a Chainlink Data Streams price feed, a long-term prospect of said market remaining interesting to traders and LPs, and the DAO being in favour.

  • Yes Chainlink Data Streams price feeds are required for both market types

  • Generally, a few weeks. Think: negotiations with potential bridge partners and getting them to support it tech-wise, discussions with security partners like Chaos Labs to asses market viability and set market parameters, and then up to a week to get the contracts deployed and the front-end UI ready and tested.

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+1 with for pushing memecoins. These are usually very liquid and volatile - just what we need. I would propose to start pushing as many as possible (oracle permitting).

New listing are not cost for protocol, especially if we leave them without ARB incentives.

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Love this breakdown and 100 percent in support. 3-5 new assets per week is what we should do

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What you guys think about listin top 3 AI volume token ? Meaning RNDR, FEt and AGIX. Volume is not as high as meme coins, but it will only increase from here. AI being trending for a while, it will keep trending for years now with NVIDA going in.

Having top 3 volume AI tokens are a must for this cycle. It will go crazy.

And unlike Memecoins that can die easly, those AI tokens are here to stay for years.

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One hundred percent. Would love to see some long term projects who especially spoke at the NVIDIA conference being traded.

Also I know we are discussing quite a few items such as MP’s. The biggest opportunity for GMX right now it to make sure we have assets that people want to trade.

Want to make sure we don’t lose track here. There are so many more assets we could list. Can someone explain where we are in the process?

These and a few leading memecoins are currently being assessed for secure market parameters, bridge options, etc, I believe. I hope the next step can be taken as soon as these prerequisites are taken care of.

Something I think I’ve mentioned in the chat. We’ve seen how certain protocals such as Pendle have done in the past year. I would think we should support certain Arb native projects on GMX.

Also where are we in the process for additional assets?

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