It’s time to make hard decisions. GMX is rudderless. No leadership. NO bid for the token. Loss of marketshare, OI, volume, business development, PR, and social attention. We can’t compete with the status quo. One more chain is not going to help GMX compete. I suggest sunsetting the protocol and distribute the treasury to token holders. Lifinity DAO recently chose to sunset and distribute. GMX either creates token alignment and grows or dies a slow death.
This will not work given the treasury size is half of the mcap, u are effectively asking token holders to sell at half the current price.
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It’s fair to acknowledge that the space is extremely competitive and sentiment has been challenging. That said, I don’t think sunsetting the protocol is the right conclusion at this stage.
There are several meaningful developments underway. The product continues to be actively improved, and since the recent mainnet launch, performance has shown encouraging traction. In addition, the MegaETH deployment is already in progress
As JunWei mentioned, from a purely economic standpoint, a treasury distribution also doesn’t work in practice. With the treasury at roughly half of the current market cap, this would effectively imply asking token holders to exit at around half the current price, which is neither fair nor aligned with long-term value creation.
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Not a fan of this, GMX is still making a lot of money and distributing it to stakers and LPs, and doing this won’t solve a thing, GMX contributors will work their asses off until something changes, so doing this is out of the question imo. If you don’t believe in the token anymore, you can press the sell button without ruining everyone over!
Token alignment is already there and will become even more prominent in the future.
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A needlessly negative sentiment. There is 175 million in OI right now, and 370 million in TVL. Billions in monthly trading volume. Thousands of users like to trade and LP on GMX. GMX is a successful business. And will be even more successful.
And as already mentioned, this doesn’t even make sense from a treasury-to-market-cap standpoint.
Token alignment is indeed an issue. Contributors are acutely aware of this, and a proposal to strengthen the connection between the token and the bustling protocol is on the way.
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hahahaha LMAO
dude, you made my day 
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Seems like it should be logical.
It won’t matter since the token is going to 0. The market is only valuing GMX at 1x it’s holdings. Basically nothing for the IP and Revenue. The treasury makes up less than 15% in GMX. It’s dying and the team has no edge and is too slow to react. They operate in a black box with no transparency and no voice to the market. Why prolong it?
Given I believe BTC, ETH and a few other will double in the foreseeable future it will more than make up from the loss of marketshare from GMX. To be honest, The community talks at length and see proposal after proposal about how to increase token alignment yet even small hanging fruit like a simple discount to stakers has been ignored for years. GMX doesn’t communicate and has no strategy and that’s the real issue. So while yes, there might be some traction as you open up distribution, we still have the same problem. We can’t execute at the level we used to. It’s a black box and at what point does the team throw in the towel because the value isn’t there. GMX was one of the only protocols that didn’t have to deal with inflation overhang yet we just sat here why the token lost 80% of its value. Competition or not, we have not done everything possible to keep up with the competition whatever that may be. I haven’t heard a good idea from the team in a long time besides no. Until i hear a clear plan of how we are going to compete and create token alignment, stop throwing good money after bad and using token holders as exit liquidity.
GMX is dying and has not been able to keep up with other teams in the space. The community is gone. I will look forward to reading the strategy and alignment. Feels like an eternity since the team or whoever the leader is now has communicated anything of substance or acted like they gave a shit. Something broke in GMX. I can’t put my finger on it but it just feels lost. Support from the community is gone. GMX will continue to bleed. So my proposal just makes sense with what I’m seeing at the current moment.
But why would you want to take a payout thats half the current price compared to just market dumping it rn? that doesnt make sense even if u own 200k GMX it still doesnt justify a 50% cut…
Additionally opening a short position while doing so would been more beneficial than sunsetting it. VS using treasury to actually push for more volume to push buybacks too?
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Not sure what you are smoking, token alignment isn’t even close to being there. We wouldn’t be at $8 if that were the case.
Fml , you are part of the problem. Yes, please give me more staking revenue so it can lose another 80%. This is pure self preservation. You don’t get of that easy just telling me to sell. If this was a real company, the board would be fired and the entire team replace. You guys don’t listen to shit. You’ve lost an entire community because you thought you you were right and you didn’t listen. GTFOH hiding behind your fake girl pictures pretending to know how to run a business. This will go down as the 2nd biggest failure in crypto history behind luna. I don’t think you guys have what it takes so might as well put GMX out of it’s misery and distribute actual value to stakeholders not vaporware.
its going to 0 sir, so why prolong it. The other blue chip assets should make up for it. Eth got it’s act together because they felt the heat. GMX won’t use the treasury for anything but self preservation. There have been multiple proposals to use the treasury for growth. You’d think the guys getting paid would actually have put out something. Month after month nothing while the token loses 50% ever few months. It’s gross negligence and you can’t blame it all on the market. Not to mention the token isn’t liquid so you couldn’t even sell it if you wanted to.
I feel like im taking crazy pills with this team. They all hide behind their fake pictures. No transparency. But wait you get 30% of the revenue in an asset that loses value faster than the venezuelan bolivarual.
How do you even try to make sense of your proposal, you’re essentially selling GMX at a loss than how it currently is. I am telling you to sell so you don’t fall victim to your own proposal which would allow you to sell 50% lower than current prices, lmao.
Also not sure what you’re smoking, but unlike your comments, GMX is very liquid, a 250k buy only slips you for a few percent, but let’s get to the point.
I will respond back to you in respect, unlike you’re doing.
The proposals you’re saying that made GMX go down a bad road all had fully community support as you all can see in the voting. It could be that it were bad decisions, but then again, blaming it on the team cause we haven’t been able to pick up is fair, but unlike you targetting a few people seems very unfair who had nothing to do with the ‘decisions’ you’re implying. You see a bad price, and you directly think about everyone who voted yes in the last few proposals and try to attack them.
I am have never ever told I am pretending to know how to run a bussiness as I am doing the side of GMX that works with the developers and implements concrete feedback we get from our real customers (traders).
I agree that things need to be changed, but the way you bring it doesn’t seem very reasonable, and again I get it, but still, very hostile 
And if you want me fired, go vote for it as it’s a DAO, the community decides!
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Honestly i think this might be a crashout due to token price affecting mental state. @nxs do recommend you to calm down and let go if the price action is affecting you. I wish you all the best but this proposal is not helping anyone do take a mental break.
Ofcourse it is, I messaged him on Twitter to talk like normal human being.
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