Summary
This proposal seeks approval to transfer of 27,822 GMX from the GMX Timelock Multi-Sig to the GMX Solana EVM Multi-Sig. These tokens were originally purchased in April 2025 to support the launch and bootstrap the liquidity for the GMX-USDC pool. With the LayerZero bridge now live, this transfer will allow GMX Solana to execute the transaction.
Background
In April 2025 GMX Solana purchased $500,000 USD worth of GMX at an average price of $10.04 per GMX. This was an Iceberg order purchase; more details could be found here in the proposal. These tokens are currently held in the GMX Treasury, and as stated in the proposal, GMX Solana will use the GMX to acquire tokens via GMX-USDC pool strengthening protocol liquidity and bootstrapping the initial liquidity in the pool once the LayerZero bridge was implemented. Now that the GMX bridge is live, this is the optimal time to transfer the funds into the GMX Solana Treasury.
The total amount deposited in the treasury was 49,783 GMX tokens Since 21,961 GMX have already been transferred following the Request Funds from GMX Solana Treasury proposal on Tally in July, this amount should be deducted.
Rationale
This transfer is the next step in the original plan for GMX Solana that was approved back in April 2025. The GMX tokens were bought to help grow the Solana ecosystem by providing liquidity through the GMX-USDC pool. Now that the LayerZero bridge is live, GMX Solana can finally use these tokens as intended to build the initial liquidity for the protocol. Moving the tokens now ensures that the funds set aside for Solana are being put to work instead of sitting idle. This also aligns with the broader goal of positioning GMX as a leading source of deep on-chain liquidity.
Next Steps
If this proposal is approved, the GMX DAO will transfer 27,822 GMX tokens from the GMX Timelock Multi-Sig to the GMX Solana EVM Multi-Sig at the following address:
0x3BF865bf390b3905b0DED7211bD0Db919a1e1145 on the Arbitrum Network.
After the transfer, GMX Solana will use the tokens to purchase GM tokens and provide liquidity in the GMX-USDC pool on GMX-Solana. The community is encouraged to share their thoughts and feedback on this proposal.
Post the community feedback the proposal will be taken to a Tally vote for a final approval
