The following reflects the views of GMX’s Governance Committee and is based on the combined research, evaluation, consensus, and ideation of various committee members.
We would recommend voting YES for the Stablecoin Allocation and NO for the ARB Allocation, aligning with the TMC’s recommendation. As mentioned by most of seperate vote for both the proposals would have been beneficial to avoid the confusion, but the feedback wasn’t implemented. Here’s the reasoning behind this decision.
Stablecoin Allocation (15M ARB) – Vote YES
. The stablecoin allocation is split evenly among three reputable partners (Karpatkey, Avantgarde & Gauntlet), ensuring balanced risk exposure and diversification. This reduces the likelihood of a single point of failure.
. The shortlisted partners have demonstrated clear execution plans, robust risk management frameworks, and realistic yield projections (8%–12% on average). Their strategies rely on well-established DeFi protocols like Aave, Uniswap, and Compound, which are low-risk and aligned with DAO liquidity needs.
ARB Allocation (10M ARB) – Vote NO
. The ARB strategies lack clear operational details, particularly regarding liquidity for options, counterparty arrangements, and execution mechanisms. This introduces significant uncertainty and risk, especially for a large allocation like 10M ARB.
. The ARB strategies rely heavily on Myso and with the uncertain market conditions now the price of ARB going down the strategy would be very risky.