Task Prioritization 2022

We propose to work on the available tasks in the following sequence:

  • Platform reliability and interface improvements

  • Synthetic tokens: supporting synthetic tokens through the PvP AMM or otherwise would help improve the platform by providing more options to traders

  • X4 / new chains: these should be worked on after the launch of synthetic tokens

In parallel with these tasks, the interface should continue to be worked on, some improvements to be made:

  • Position sharing
  • Trading view integration
  • One minute charts
  • Trade history improvements
  • Close a position and receive any supported token
  • Translations
24 Likes

Looks sensible to me, X.

4 Likes

Excellent prioritizing ! :heart_eyes: :100: Godspeed Decentral

With regards to… IPFS or 3rd party solutions… Would the respected parties services be subject/inclusive to come under the umbrella of the Bug-Bounty :slightly_smiling_face: - or is troubleshoot, not at all required ?

2 Likes

Any chance we get more specific on what synthetics are being considered, and what the design/implementation would be?

2 Likes

Hard to argue with this prioritization list other than not knowing what synthetic tokens are for gmx dex. The PvP AMM was mentioned in X4 article. Idk which is best. Got to trust X. If the second task is less difficult I can see a momentum structured in this list.

Was very excited about X4, would developing it take longer than 3 months?

Excited to see this amazing working platform continue to grow and develop.

Similarly would like to understand what the relative timelines are for these.

Is this structured so that each successive step gets easier? Example here might be that we create this synthetic token infrastructure, and by doing it first we’ve actually put in place some building blocks that make X4 easier to build. The base case would be that none would build off each other, but if we were able to structure it differently we could reduce to total time to market.

Another thing to consider is the potential impact each of these makes. Would synthetic tokens be a bigger draw for the protocol vs X4? Or are we potentially putting synthetic tokens first because we will spend less time on that side of the protocol once we begin working on X4 (a smart move if true).

4 Likes

Looks really good. Exciting roadmap!

I might just add that adding a separate tab for swaps have been requested by many users and could give a boost to swap volumes. It would make it more user friendly for first time users IMO

3 Likes

yes the solutions would come under the bug bounty

we could start with BTC, ETH and let the other markets be voted in

for the implementation we will evaluate on the pvp amm model for shortcomings and possible mitigations, so there will likely be some iteration on the model before we proceed with implementing the contracts, details of the pvp amm described here: X4: Protocol Controlled Exchange. We briefly mentioned X4 in an earlier… | by GMX | Apr, 2022 | Medium

1 Like

our reasoning for proposing to work on synthetics before X4 is that we’d like to gain more market share in the perps market and to offer a great user experience to traders before we try taking on spot swaps with X4

in terms of time taken, both pvp amm and X4 would likely take around 3 months each to launch, just by my rough estimate

6 Likes

we believe synthetic tokens to potentially have less challenges to gain adoption, the challenge with X4 is that we need to convince protocols to use it, so we need to build it then we need multiple good projects to build on top of it, so the time to adoption would be longer even if both take around the same time to launch

from our preliminary discussions, feedback from other protocols on X4 have been mostly positive so we do see a path forward with it, just that it will take a longer time to see results

4 Likes

true, that makes sense, i think it is on our task list but will re-check to be sure it is there

1 Like

Solid prioritization. Hard to prioritize X4 vs synthetics imo. Since visibility of GMX is generally high rn it might be good to work on synths before X4 due to adoption advantages as you mentioned. Something to consider as well imo is fee structuring, as discussed in another topic, to increase the perp market share / the competitiveness in the perp sector

2 Likes

Yeah this makes sense. If I understand correctly, tactically we’d be working on synthetics while we’re speaking with other protocols (and even now) such that when we get to developing and releasing X4 then protocols will be onboard and adoption would be easier

What time would take to launch on Optimism and ZKsync?
If this takes a couple of weeks, maybe we expand first and then dive deep in the tasks above?

Rather have X4 before we expand to other chain first, we can use the esGMX emissions as a flywheel to attract volume and so on.

2 Likes

It would take about a month or so to launch on a new chain, the contract deployment should not take too long, but based on our past experience the challenge is dealing with chain specific issues like setting up GMX liquidity if needed and also dealing with keeper gas issues, also adds overhead in terms of monitoring contracts, etc.

1 Like

month isn’t too much:
I still think we should consider launching on Optimism and ZkSync:

  • recognition
  • airdrops and grants
  • even small GLP pool, like 10mil, fits the need of 90% of traders
  • crypto is cheap now, so GLP pools has a lot of room for growth. On the countrary, PvP AMM and syntetics are based on USD

when Optimism and Zksync drops their tokens, and The Merge and L2 fever starts, it might be too late to catch the momentum.

2 Likes

I think those are valid points, I believe there needs to be a balance between launching on new chains and improving the core product. If we put too much focus / spend most of our time on launching on new chains while competitors improve their product, there is also a risk of being left behind.

For the specific chain to launch on, ZkSync isn’t on mainnet yet. For Optimism, possibly we would miss out on the initial airdrop because we aren’t Optimism native. It is uncertain how much momentum there would be, but if they are continuing the airdrop for the long term and gain traction then in my view there would still be time to launch on it and for that reason I think we should prioritize improving the user experience and product for users.

5 Likes

in my book, being early on the first zk-rollup that gets traction, could be prioritised, when thinking about new chains. if it looks like to be zksync, we should be there.
if we have a leading zk-rollup, and a leading optimistic rollup (arbitrum), I think this combo is powerful, gmx narrative wise (best L2 dex).

1 Like