The GMX Flywheel – Reigniting Growth, Volume, and Price Momentum

Proposals
19

Hi NXS,

First of all, thank you for this. I’d like to take this opportunity to use this thread as the mother of all proposal threads, since there are currently five or more active proposals of various kinds in the forum. I’ll also be commenting on each of those proposals to redirect readers here — as this one is the latest and, in my view, the most comprehensive.

A Quick Reflection

I’d like to highlight what I see as a small “weakness” among GMX contributors: a lot of great work happens behind the scenes, but it’s not communicated quickly enough to the community.
This usually comes from our cautious approach — we prefer to underpromise and overdeliver.

However, I call it a weakness because I believe the community deserves more uplifting updates from us, and we should be more proactive in sharing progress.

Work That Has Been Done (But Not Widely Shared)

Before diving into the main proposal, I want to first acknowledge some work that’s already underway but hasn’t been publicly detailed enough.

a) Marketing Efforts
We’ve launched two marketing initiatives:

  • One agency began a little over a week ago, focusing on attracting audiences from DEXs and wallets. After fine-tuning based on their feedback, it’ll take about 1–2 months for the algorithm to reach optimal performance.

  • The other agency represents a larger-scale marketing campaign, which is now in its final stages.

Most of these efforts might be invisible to GMX stakers (especially if you’re not actively trading), but they’re happening quietly in the background. ^.^

b) Expanding the Contributor Team
We’ve onboarded several new contributors over the past week, continuing our steady expansion over the last 24 months.

This might sound like boring “behind-the-scenes” stuff, but the new talents have already brought fresh ideas that are keeping our devs busy again.

c) Trading Competition: StimPak Duels
A new trading competition has kicked off — StimPak Duels — with a small but creative concept.
If it proves successful, expect more events to follow soon.

d) Referral Redesign
The referral system is being redesigned with a renewed spirit and vision (this probably deserves its own dedicated discussion thread).
Thanks to Rob for pushing this forward — it’s on track!

e) Multichain Expansion
Multichain efforts have begun — which is also why some marketing activities were held back until recently.

The new EARN page now includes more detailed information, and bridging of $GMX to Solana is live, along with other technical upgrades.

If you haven’t already, I encourage everyone to follow our updates:

f) Meetings with LPs, Whales, and Funds
There have also been ongoing discussions with large LPs and institutional participants — meetings we obviously can’t disclose in detail.

GMX has continually proven that our pricing accuracy is strong — even outperforming some major CEXs (for example, our Oct 11th liquidation wicks were significantly better).

Still, big LPs and funds are always cautious, and it takes continuous effort to maintain their confidence and bring in fresh liquidity so our traders can thrive.

g) Upcoming Features for Traders
To wrap up this section, here are some exciting updates currently in progress for traders:

  • JIT (Just-In-Time) execution

  • Net OI (Open Interest) metrics

  • Market groupings

  • Cross-margin functionality

These features are under development and will be rolled out over the next few weeks and months.

(Continued in my next comment on the main proposal.)

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