GMX Allocates $10 Million to Establish Market Making Fund

The on-chain trading platform GMX has released a governance proposal to allocate $10 million from its treasury to establish a market making fund for GMX tokens. The fund will reference the total open interest of merged contracts on the entire chain; when GMX's circulating market capitalization is below the merged open interest, the fund will primarily focus on buybacks. Conversely, when the circulating market capitalization is not less than the merged open interest, it will shift to providing liquidity. The proposal also discloses a subsequent roadmap, including cross-collateralization and cross-margin models, market segmentation, net open interest contracts, RFQ, permissionless market launch, Robinhood integration, and a new USDG LP product line. Additionally, GMX will initiate GT buybacks and distribute GT airdrops to GMX stakers, with specific details to be announced in the next proposal.

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