I’ve been catching up on a few recent podcasts, and it’s striking that while everyone is talking “perp season,” GMX often isn’t mentioned — it’s SNX, Lighter, dYdX. Some of the most attractive components of our protocol aren’t reaching those talking heads.
That feels like a gap. Without a visible leader or voice connecting with people directly, GMX risks being underrepresented, especially with the core team staying anonymous. From a marketing perspective, the lean should be on our decentralized strength and on simply being everywhere in conversation.
Based on another proposal by gmboop and Xdev’s response:
I think we could streamline the numbers. To not utilise 40m, marketing-wise wise lets reward users for sharing GMX on X through yaps/referral incentives, should a user onboard others onto GMX using their referral.
Given recent market events, with 400m in liquidity, but Open Interest has dropped to 150m, and monthly OI averages 250m, I would propose to hasten the marketing campaign.
Here is the amendment I would propose:
GMX Incentive Program
Propose the usage of $12M USDC from treasury over the span of 12 months, $600K USDC be used on the GMX buyback bot to repurchase GMX and be solely used for trading incentives. $400k USDC will be used for rewarding any users who help promote GMX on X (Twitter), launch through Kaito Yaps to filter low-quality posts similar to Arbitrum Yap (Start Yapping on Arbitrum Everywhere), through Kaito Yap, it would not require GMX dev to code additional code to track users’ participation, and it would allow us to immediately launch the marketing campaign.
For the trading incentive to prevent botting, I would propose the following:
60% Multi-chain Competition (e.g. BNB, Base, any new chain launch), Highest volume from multi-chain wins 40% of the prize pool for that month.
20% PNL Adjusted Volume (Losses would result in more rebate to encourage them to stay)
20% Trading frequency.
Furthermore, incentives should be given out to users with a 1-month vesting to prevent short-term sell pressure (no need for additional requirement, just 1-month vest)
Expected outcome:
Retain a monthly Open Interest of at least 500m after this 1-year campaign
Additional proposal to allow holding of GMX to be entitled to a trading fee discount.
This has been brought up by several individuals who would suggest a faster pace in implementing this.
Would suggest that the proposal be pushed to snapshot by the end of October if possible, TBC 29th October 2025, to kickstart the campaign and prevent liquidity from leaving due to lower trading volume, which lower fees.
i can share that some of your points are already in progress =)
Not able to reveal details, but we are at the final stage of signing contract and making payments to launch them, yes no need extra Dev time, as we prefer dev to focus on making GMX a great product.
for most of your points that are not being planned out yet, we are going to discuss them and push them out if its feasible =)
gonna push for this very hard in the next few weeks, in conjunction with other proposals written out nicely in this forum
plus some internal ideas of ours…
Could you please pose a compiled proposal or direct all proposal towards a single thread as there is too many variations and it be hard to track which parts are being discussed at this point in time. Lets compile it then pose a version which we could actively discuss and modify as a community.
let me think of some of the things we have done too.
and things that I wanted to propose but need huge discussion (i am trying to push the merits of GMX using polymarket as backend pools for prediction markets for crypto related trades)