GMX Proposes $10 Million Token Market-Making Fund From Treasury

GMX has published a governance proposal to allocate $10 million from its treasury in the first phase to establish a GMX token market-making fund. According to ChainCatcher, the fund will use aggregated on-chain open interest as a benchmark, prioritizing buybacks when GMX circulating market value is below combined open interest and shifting to liquidity provision when circulating market value is at or above that level. The proposal also outlines a roadmap that includes cross-collateral and cross-margin modes, market grouping, net open interest, RFQ, permissionless markets, Robinhood integration, and a new USDG LP product line. GMX also plans to begin GT buybacks and distribute a GT airdrop to GMX stakers, with further details to be announced in later proposals.