# Proposal to Transfer USDC and GMX to GMX-Solana for Initial Liquidity Provision
**URL:** https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040
**Category:** Proposals
**Created:** [November 4, 2024, 1:24pm UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040 "2024-11-04T13:24:44Z")
**Posts on this page:** 16
**Page:** 1
### Author:  [@Saurabh](https://gov.gmx.io/u/Saurabh)
#### Post date: [November 4, 2024, 1:24pm UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/1 "2024-11-04T13:24:44Z")
### Summary
This proposal outlines a plan to establish a bridge for transferring GMX and USDC from the GMX DAO treasury to GMX-Solana to support GMX-Solana liquidity with initial liquidity.
The GMX DAO is requested to allocate and retain for at least two years $50,000 in USDC and $50,000 worth of GMX from its treasury to seed the GMX-USDC pool. This initiative will expand GMX’s cross-chain presence, improving accessibility and deepening liquidity for GMX-Solana.
### Motivation
After nearly seven months of continuous development for GMX-Solana and the audit in place, GMX-Solana is approaching closer to launch, offering GMX a significant opportunity to expand into the Solana ecosystem. To support this integration, liquidity seeding efforts on GMX-Solana’s GLV: GMX-USDC pool will help establish initial liquidity and help promote ecosystem growth for GMX on Solana. Providing $50,000 in USDC and $50,000 in $GMX to the GMX-Solana GLV: GMX-USDC pool will build robust liquidity, building a more accessible and liquid market for users on Solana. This early support is crucial to driving protocol adoption for GMX-Solana, enhancing trading and liquidity options on Solana, and ultimately solidifying GMX’s position within the Solana ecosystem.
### Specification
1. Bridge Setup:
- Establish a secure and efficient bridge for GMX between Arbitrum, Avalanche, and Solana.
- Collaborate with reliable bridging solutions like Wormhole and Layerzero to enable seamless transfers, ensuring low latency and high security.
- GMX Solana will utilize the bridged token standard decided by the GMX DAO
1. Liquidity Provision:
- Allocate $50,000 USDC and $50,000 worth of GMX to seed the initial liquidity for the GMX-Solana GLV: GMX-USDC pool.
- This provision will create a robust liquidity base, facilitating efficient trades and attracting Solana-based users to GMX.
1. Funding Allocation:
- The funds will be held in the GLV: GMX-USDC vault on Solana.
- GMX DAO will oversee and periodically review liquidity performance, ensuring alignment with GMX’s liquidity objectives.
### Conclusion
This proposal offers a strategic approach to broadening GMX’s multi-chain presence, increasing accessibility for Solana-based users, and strengthening the DAO’s long-term growth objectives. By establishing a reliable bridge and seeding liquidity on GMX- Solana, the GMX DAO will drive protocol adoption for GMX- Solana and build a strong liquidity foundation in the Solana ecosystem for GMX.
Action Requested: Approval for the bridge setup and allocation of $50,000 in USDC and $50,000 in $GMX for the Solana: GMX-USDC liquidity pool.
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### Author:  [@Seraph](https://gov.gmx.io/u/Seraph)
#### Post date: [November 4, 2024, 2:44pm UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/2 "2024-11-04T14:44:08Z")
absolutely in favour.
liquidity is the blood of perps, and this way, GMX can help ensure the SOLANA project would be a success from day 1.
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### Author:  [@Alik1975](https://gov.gmx.io/u/Alik1975)
#### Post date: [November 4, 2024, 5:22pm UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/3 "2024-11-04T17:22:02Z")
In full support. Another great proposal.
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### Author:  [@Jonezee](https://gov.gmx.io/u/Jonezee)
#### Post date: [November 4, 2024, 8:31pm UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/4 "2024-11-04T20:31:58Z")
Definitely agree with helping to bootstrap the liquidity on GMX\_Solana in this crucial initial phase.
I think there’s an rgument to be made that 50K of USDC and GMX may be on the low side, even…?
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### Author:  [@gmsolq](https://gov.gmx.io/u/gmsolq)
#### Post date: [November 5, 2024, 12:14am UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/5 "2024-11-05T00:14:29Z")
> [@Jonezee](#):
>
> I think there’s an rgument to be made that 50K of USDC and GMX may be on the low side, even…?
The larger, the better. If it’s even larger, the balanced pool mechanism might allow us to migrate liquidity from Uniswap (where assets are fully controlled by the GMX DAO). However, considering the technical costs associated with migrating liquidity from Uniswap, we may choose the simplest option: having direct support from the GMX Treasury. This would involve only the movement of funds, essentially meaning that the GMX DAO would be “purchasing” some GLV without incurring technical expenses.
The objective of this proposal is not the liquidity amount itself—whether it’s 100k or 1m. The key is for GMX to complete this process and bridge $GMX to Solana, enabling future buybacks by GMX-Solana to proceed as planned.
The buyback mechanism for GMX-Solana differs from that of GMX. Currently, the initial plan is for the GMSOL Treasury to convert all collected fees into USDC, which will then be injected into the GLV:GMX-USDC pool. The incentive created by price impact will encourage arbitrage funds to transfer GMX from Arbitrum or other sources into the GLV:GMX-USDC pool. This will automatically result in a 50:50 GMX:USDC configuration in the GMSOL Treasury. Meanwhile, the GLV:GMX-USDC pool will continue receiving fund injections, allowing it to provide liquidity to the entire market from Day One, further expanding $GMX’s use cases.
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### Author:  [@Seraph](https://gov.gmx.io/u/Seraph)
#### Post date: [November 5, 2024, 4:52am UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/6 "2024-11-05T04:52:32Z")
maybe DAO can move GMX-ETH (or USDC) LP from arbitrum to solana.
I believe this seeding of liquidity in solana also generate extra income/fees for GMX-DAO.
let GMX-solana starts off smoothly, earns some fee for the DAO… win-win.
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### Author:  [@Tano](https://gov.gmx.io/u/Tano)
#### Post date: [November 5, 2024, 10:40am UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/7 "2024-11-05T10:40:32Z")
Full support from my end, but agree with Jonezee that the amount should be slightly increased to either 100k or 150k for both GMX and USDC amounts.
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### Author:  [@brawlaphant](https://gov.gmx.io/u/brawlaphant)
#### Post date: [November 5, 2024, 8:47pm UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/9 "2024-11-05T20:47:05Z")
i am for this proposal and agree with tano’s amounts of 100k+ on each side
if the dao has any GLP or GM pools, id start there
moving capital thats in the uniswap pool is a big move to say the least, would like further examination on that, we talked about it in the forum post around listing gmx gm pool, unlocking POL a bit more, because we have such a large set of markets for gmx across exchanges and dexes
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### Author:  [@Seraph](https://gov.gmx.io/u/Seraph)
#### Post date: [November 6, 2024, 1:59am UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/10 "2024-11-06T01:59:20Z")
@brawlaphant yes. i support unlocking POL more
providing liquidity in solana with the existing POL =)
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### Author:  [@Snipermonke01](https://gov.gmx.io/u/Snipermonke01)
#### Post date: [November 6, 2024, 9:47am UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/11 "2024-11-06T09:47:38Z")
In support of this proposal, but echo the sentiment that the requested amount is perhaps on the low side.
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### Author:  [@Saurabh](https://gov.gmx.io/u/Saurabh)
#### Post date: [November 7, 2024, 1:38pm UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/12 "2024-11-07T13:38:17Z")
Based on the community sentiment regarding increasing the liquidity amount, here are a few suggestions:
A) 50K USDC - 50K USDC worth GMX
B) 100K USDC - 100K USDC worth GMX
C) 200K USDC - 200K USDC worth GMX
Thank you, everyone, for contributing to this discussion.
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### Author:  [@pegcity](https://gov.gmx.io/u/pegcity)
#### Post date: [November 7, 2024, 1:40pm UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/13 "2024-11-07T13:40:11Z")
I think this makes much more sense, hopefully as a big name in the ETH ecosystem there will be significant amounts of liquidity added over the first few days by the market, but 50K seemed far too low
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### Author:  [@FallingSands](https://gov.gmx.io/u/FallingSands)
#### Post date: [November 9, 2024, 1:23am UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/14 "2024-11-09T01:23:20Z")
I support this seeding by the treasury, but to be fair there should be an option for $0 for those who want to vote against the proposal.
I also think the community could use better judgment if you stated the current balances of GMX and USDC in the treasury.
Overall great proposal.
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### Author:  [@Jonezee](https://gov.gmx.io/u/Jonezee)
#### Post date: [November 19, 2024, 12:13pm UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/15 "2024-11-19T12:13:18Z")
This proposal has now moved to Snapshot for a community sentiment vote:
[https://snapshot.org/#/gmx.eth/proposal/0xd20c6ae56a9a1ee5b9cc3d4e55446fc38c33536442c7acc2ed87264db7021629](https://snapshot.org/#/gmx.eth/proposal/0xd20c6ae56a9a1ee5b9cc3d4e55446fc38c33536442c7acc2ed87264db7021629)
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### Author:  [@FallingSands](https://gov.gmx.io/u/FallingSands)
#### Post date: [November 19, 2024, 4:34pm UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/16 "2024-11-19T16:34:35Z")
Is there somewhere we can see the GMX treasury balance?
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### Author:  [@Jonezee](https://gov.gmx.io/u/Jonezee)
#### Post date: [November 19, 2024, 7:25pm UTC](https://gov.gmx.io/t/proposal-to-transfer-usdc-and-gmx-to-gmx-solana-for-initial-liquidity-provision/4040/17 "2024-11-19T19:25:32Z")
The Treasury is distributed across a few contracts currently;
> **[GMX Token | GMX Docs](https://docs.gmx.io/docs/tokenomics/gmx-token/)**
>
> GMX is the platform's utility and governance token, holding the token unlocks a variety of benefits.
I believe it adds up to around ~10M USD. Consolidating these contracts is on the task list.