GMX

Background

GMX as the leading multi-chain perpetual DEX with deep liquidity and a growing cross‑chain footprint. Botanix Labs’ Spiderchain offers low fees (~$0.02/tx), ~5 s block times, and full EVM compatibility secured by Bitcoin. LayerZero was recently awarded GMX’s cross‑chain messaging tender (details). This vote seeks approval to deploy GMX V2 as a hybrid on Spiderchain—BTC‑native perps secured by Bitcoin, with support over time for GMX cross chain.

Specification

1. Deploy GMX V2 on Spiderchain

. Launch a BTC‑collateralized perpetual market, secured by Bitcoin . Support $GMX markets on Botanix . Integrate Chainlink Datastreams for oracles. . Utilize LayerZero (GMX’s new messaging partner) for cross‑chain messaging for multi-chain

2. Authorize Negotiations

. Empower core contributors to finalize and execute partnership terms with Botanix Labs, covering technical integration, incentives, exclusivity milestones, and commercial arrangements.

Benefits . Bitcoin‑native security: Bitcoin settlement and finality.

. Expanded user base: On‑chain Bitcoin holders gain EVM‑style access to perps.

. Market leadership: Positions GMX as the premier BTC perpetual DEX across chains.

Technical Feasibility . EVM‑compatible: Spiderchain supports GMX V2 contracts with minimal changes.

. Infrastructure ready: Chainlink, Chaos Labs, Guardian, Hexagate, and others have committed integration support.

. Cross‑chain: GMX’s existing architecture enables seamless asset transfers.

Deployment Roadmap

1. Temp Check & Feedback (Complete)
2. Formal Vote & Negotiations (if this vote passes)
3. Implementation, Security Audits & Monitoring
4. Liquidity Incentives & Marketing

Risks & Mitigations . Integration bugs: Joint testing and staged rollouts. . Adoption: Community incentives and targeted liquidity provisioning. . Fee flows: Cross‑chain fee channel to GMX stakers upon full integration.

Snapshot Vote Choices 1. For Authorize contributors to negotiate and deploy GMX V2 on Spiderchain

2. Against Do not deploy GMX V2 on Spiderchain.

3. Abstain I abstain from voting on this proposal.