GMX Proposes $10 Million Treasury Allocation for Token Market-Making Fund, Initiates GT Buyback

On-chain trading platform 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. The fund will use the combined open interest across all chains as a reference metric, prioritizing buybacks when GMX's circulating market cap is below the combined OI, and shifting to liquidity provision when the circulating market cap is not below the combined OI. The proposal also discloses a subsequent roadmap, including cross-collateral and cross-margin modes, market grouping, net open interest, RFQ, permissionless markets, Robinhood integration, and a new USDG LP product line. Additionally, GMX will initiate a GT buyback and distribute GT airdrops to GMX stakers, with specific details to be announced in a future proposal.