looking at the current market conditions, we are also considering to do a sale for 50k esGMX first and evaluate after for the sale of the remaining 50k esGMX
I would list the whole 100k esGMX
Market is incredibly unpredictable, and tbh shouldn’t be taken into account during events like this.
true as well, will discuss with the team and update y’all soon
great, that sounds like it makes sense!
Worth considering simply selling GMX, rather than esGMX? Wouldn’t more total funds be raised this way? Plenty of positive price movement already, I don’t see the need to be overly concerned about the impact to price.
I think the fund raise is fully justifiable. The platform is seeing solid growth, feedback is coming in and demand is there. Refining the trade platform through additional data sources (candle volume, order flow, indicators etc.) and frontend optionality is part of what will drive product loyalty. Then BAM! trading incentives and shiny new toys for the hungry trader. Perfect combination to gain+maintain a bunch of new users, and accelerate the positive sum game.
GMX would be possible as well, main consideration would be that I think most are in agreement with using esGMX so we might not want to change it at this point, since we are arranging to have the sale in a few days
This proposal would generate about 3-4 mil depending on the price of GMX (& >10% discount). It’s a very well laid out proposal with enough safeguards against token dumping.
As a supporter of this project, I would like to know
- how long will this funding last the team for?
- Are there any other allocation for funding team development and marketing efforts
This is a very well developed protocol that has the potential to reach the top for leveraged perp trading, swaps and borrowing. My questions are more to understand the funding for the team for longterm sustainability and growth.
We sold 50k esGMX in March for about ~1.5 million, this should last till the end of this year at least
There is also a sale of 10,000 GMX each month through Olympus bonds Olympus Pro - Bond marketplace for protocol owned liquidity, 50% goes to the floor price fund, and 50% for marketing activities, we are planning to have a trading competition soon which would be supported from these funds
To clarify, outside of the 50k esGMX offering, how much additional esGMX has been offered via Olympus bonds, and has this ended or still ongoing?
Aside from the 50k esGMX, no additional esGMX has been sold so far.
There is an ongoing 10k GMX being sold on Olympus per month though, GMX Update 2. It has been ~3 months since the launch… | by GMX | Medium.
Got it. Is there a planned cap on GMX offered via Olympus or just 10k / month until GMX allocated to marketing fund is depleted?
I totally agree with the proposal
Am in favor of this great idea
I believe its an ongoing setup, with no cap imposed. Somebody please correct me if I’m wrong.
We will likely re-evaluate it in a few months to a year
it’s on going? where we can vote?
This governance proposal has already been executed.
Well said and good layout lets move forward
Yes, good proposal, let´s go!