This is the biggest issue in the protocol that needs immediate changing.
Competitors like Jupiter and hyperliquid (pre market )are trading 20x and 10x our fdv.
Gmx is leading in many stats but the token has faded to irrelevance since new entrants need to stake for 2 years just to receive non dilutive apr, there no spot volume, this is why the coin is dead.
Many of the proposed ideas of changing the emission rates and designing new use cases for mps are interesting although I have yet to see one that benefits both old and new stakers equally.
I am suggesting one that will immediately benefit both new entrants and old.
My proposal is to completely remove the mp system. Those at around the 123% mp avg or less(per saulius’ dashboard) will either have no change to yield or benefit.
Then for holders over 123% mp, a one time esgmx airdrop (amount undetermined) , will be granted. Older stakers are incentivized to vest and not sell gmx in order to realize their new esgmx gains