Thank you for the kind words and for adding the multisig address! Your submission now meets all requirements to be considered for a snapshot vote.
1 Like
Chiming in here on behalf of Yield Yak’s Core Contributors (who have worked with and built on top of GMX for >2 years) to add that we support this proposal.
Without getting into the specifics over amounts relative to the STIP, we support GMX receiving the largest share of the pie due to:
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Their track record of building collaboratively and sharing their success with other teams dedicated to moving the space forward. In a space often plagued by short-term opportunists, GMX have always displayed real integrity and have been thoughtful about their impact on the overall industry in our dealings with them.
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Diamond-handing their original ARB endowment shows real long-term commitment to Arbitrum’s vision.
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The outsized impact they have had on Arbitrum both to date and on an ongoing basis.
4 Likes
GMX is great for Arbitrum. I support the proposal.
2 Likes
Okay this is nice
I support the proposal
2 Likes
Fully support GMX’s proposal for Arbitrum DAO grant. Strong potential.
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I would like to express my support for the gmx proposal. I believe that gmx is a valuable addition to the Olive platform, and I think it will provide many benefits to users. I am happy to see such a thoughtful and well-crafted proposal, and I look forward to seeing gmx implemented on the platform.
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Ok, this would be a nice collaboration
Support this. GMX has built something incredible and is a key part of the Arbitrum ecosystem. So many great products have been built around GMX such as Olive or Umami. Giving them a grant massively boosts the arb ecosystem
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Thanks for everyone involved with the proposal. I love to see data driven proposals like this from projects with a strong track-record for delivering great products and proven capabilities of managing funds like GMX and reasonable team funding. I hope the DAO will appreciate that, supporting a strong team and product that essentially shaped the arbitrum ecosystem as it is today.
Full support for GMX
2 Likes
I wholeheartedly support GMX, its proposal, and the broader GMX ecosystem that bolsters the Arbitrum landscape.
At Savvy, we’ve successfully bootstrapped our protocol by leveraging two exceptional yield strategies rooted in GMX: Jones DAO and @gmdprotocol . The ability of two distinct protocols to craft yield strategies atop GMX, and for another to derive liquidation-free leverage from those strategies, underscores GMX’s pivotal role. It’s not merely another protocol; it’s a linchpin in the Arbitrum ecosystem.
Since its launch in September 2021, GMX has consistently demonstrated unwavering commitment and a clear vision for Arbitrum. As our favorite spaghetti-man, @Shreddy , highlighted, GMX has achieved remarkable accomplishments even without external incentives. The introduction of ARB tokens holds the potential to revolutionize the space. While there might be discussions about the grant’s magnitude, I see it as a reflection of GMX’s ambition and the drive that has elevated them to their current prominence.
And our favorite Yak Attack, @ravageur77 from Yield Yak, accentuated GMX’s spirit of collaboration and their lasting imprint on Arbitrum. Their trailblazing initiatives have paved the way for other protocols, including Savvy, to innovate and thrive.
In sum, backing GMX’s proposal goes beyond mere financial support. It’s a nod to a foundational entity that has played a crucial role in shaping the Arbitrum narrative. I’m firmly rooted in GMX’s vision and am excited to witness the landmarks they’ll set with our community’s united support.
Appreciate you @coinflip.
8 Likes
GMX demonstrates a meticulously structured plan to elevate DeFi activity on Arbitrum, utilizing the advancements integrated into GMX V2.
With key upgrades such as low-latency oracles and diversified liquidity pools, the significance of GMX v2 to DeFI and the overall Arbitrum ecosystem should not be taken lightly.
Providing a market-leading alternative to CEXes is certainly worthy of consideration from the delegates.
Betting on GMX is how Arbitrum moves the needle. Full send.
7 Likes
Impressed by the depth and foresight of this proposal. GMX clearly demonstrates a well thought-out strategy for long term growth and sustainability. GMX also represents an impressive 25% TVL on Arbitrum.
The focus on providing a wide range of perpetual and spot pools could solve a pressing liquidity issue, and the plan to directly compete with centralized exchanges by providing seamless onboarding onto the Arbitrum chain addresses a critical gap in the market.
Seems like a good move for Arbitrum, and we support this proposal.
4 Likes
This grant proposal from GMX looks promising! It’s great to see their commitment to further developing the Arbitrum ecosystem. GMX has already demonstrated its capabilities with impressive adoption and liquidity. The focus on GMX V2 and the goal of onboarding users from centralized exchanges onto Arbitrum is a smart move. The allocation of funds for trading incentives, liquidity incentives, and protocol support seems well-balanced.
2 Likes
Hey @coinflip
Great proposal
What would be the Grant Matching proposal to be send to the DAO?
Hey @Matt_StableLab, Do points 4.1 and 4.2 only apply to GMX?
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good article sir. im read all and i can get information
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Overall a solid proposal and GMX bring massive volume to the Arb chain. By supporting V2 this will increase even more.
All in all, this should be a no-brainer, although the percentage amount is quite large and could within reason be regulated to a smaller portion, with smaller projects benefits in mind.
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Appreciate the depth of information and rationale shared for requesting such a large grant. GMX has historically shown leadership for the ARB ecosystem and have always put users first and we are confident they will do full justice to the grant not just for users but also for the wider ARB ecosystem. We at Timeswap support this proposal and look forward to continuing to work with their team to bring additional utility for the GMX ecosystem assets. Thanks!
2 Likes
Hello @coinflip ,
Now that your application has been marked eligible, please be advised of the remaining steps in the application process to be completed prior to the Review Period Deadline:
Please complete the following steps required for your application to proceed to Snapshot:
To change your proposal to final, please tag an Arbitrum Foundation Forum Moderator (@ stonecoldpat @ cliffton.eth @ eli_defi) by the Review Period deadline to notify them of your proposal’s readiness to proceed from [Draft] to [Final] status.
Once notified, the Arbitrum Foundation Forum Moderator will adjust your title from [Draft] to [Final] status. Once marked as [FInal], your application post will be locked by moderators and you will no longer be able to edit your proposal.
1 Like
Firstly, we want to express our genuine appreciation to GMX for presenting a well-structured and thoughtful proposal. Your dedication to the Arbitrum ecosystem is evident, and we’re excited about the positive contributions this proposal could make.
Introduction and Rationale
The proposal from GMX seeks to accelerate the growth of the Arbitrum ecosystem by focusing on three main pillars: onboarding new users, incentivizing trading, and attracting builders. The request for a grant of 14M ARB constitutes a significant 28% of the entire 50M ARB program pool. This sizable request seems justified, considering GMX’s ambitious plans and proven track record.
GMX’s role in the Arbitrum ecosystem has been nothing short of transformative, particularly in the derivatives sector. With V2, GMX plans to build upon the accomplishments and limitations of V1, introducing a plethora of new features that promise to improve latency, execution speed, and security, among other aspects. Notably, GMX has achieved remarkable user retention and daily fee revenue, even without new incentives for several months. This existing success adds credence to the potential effectiveness of the proposal but also invites scrutiny on the necessity of such a large grant. The liquidity in V1 was particularly sticky, which bodes well for the potential effectiveness of trader and liquidity incentives in V2.
Major Points of Interest
ARB Distribution for V2 Integrations
The segment of the grant allocated for V2 integrations is an innovative strategy. Although somewhat unexpected, it could have a long-term catalytic effect on the ecosystem. This part of the proposal is particularly interesting but warrants a closer look, given the overall size of the grant.
Minor Points of Interest
- The grant size correlates with the breadth of GMX’s ecosystem, which is laudable. However, given its size, it would be prudent to discuss its implications for other, potentially smaller, initiatives within the Arbitrum ecosystem.
- The amount set aside for new integrations is a forward-looking element of the proposal. Its inclusion is welcomed, yet, given the grant’s overall size, it calls for additional dialogue to confirm it aligns with the broader needs of the Arbitrum ecosystem.
- We find the proposed trader and liquidity incentives to be well-conceived, particularly in light of how effectively such incentives helped to retain liquidity in V1. These incentives could likely replicate that ‘stickiness’ in V2.
Summary
Castle Capital is generally supportive of GMX’s comprehensive and ambitious proposal. The size of the requested grant, which takes up 28% of the total available, does merit cautious consideration. This significant allocation should be carefully balanced against its expected impact and the long-term advantages it could bring to the Arbitrum ecosystem. We are eager to see how the community dialogue evolves, particularly regarding the grant’s size and its alignment with the proposal’s lofty goals.
Again, thank you, GMX, for this thoroughly considered proposal. We look forward to contributing to further discussions.
6 Likes
Good Entry is a GMX ecosystem supporter. We currently are one of the very few teams offering GMX Protected Perps. Liquidity is thin at the moment. As GMX matures into a major token, we see that there will be more demand from institutional players for derivative products. Every initiative that spurs GMX Growth is a positive for the up and coming projects like ours to push forward
3 Likes