Single Token Markets - Avalanche GMX V2
Proposed the enabling of single token markets on GMX V2 Avalanche. The successful launch of ETH and BTC markets on Arbitrum has shown strong demand for a yield generating proxy of these single assets. Propose to extend the recommendation provided for Arbitrum markets (BTC & ETH) to Avalanche while also adding support for gmAVAX+ (AVAX-AVAX).
In addition to the completed risk review, contributors have also had discussions with key partners on Avalanche to support the growth of a potential gmAVAX+ market, with lending markets and CDPs indicating support and Ava Labs supportive of directing Rush incentives towards the growth of this market.
Token Address: 0xfc5a1a6eb076a2c7ad06ed22c90d7e710e35ad0a (Arbitrum)
Listing Chain: Avalanche
Summary: AVAX is the is the native gas token of the Avalanche blockchain, the largest EVM Alt-L1.
MCAP: $14.2 billion
Daily Volume: $440 million
Coingecko Link: https://www.coingecko.com/en/coins/avalanche 1
as on May 17, 2024
Chaos Recommendations for AVAX single token market https://chaos-labs.notion.site/EXT-WAVAX-single-token-pool-recommendation-55e740df250945c4abc89d75af4f753d?pvs=4
Prior governance vote & discussion for BTC & ETH single token market https://snapshot.org/#/gmx.eth/proposal/0xc62340aa5c5e3993bb3b4cd8e0f391bcdc60319032431146fcfba8a7b65b8fdb
Voting Options Each of BTC, ETH, AVAX will have options to support their creation or decline their creation, the successful option for each will express the intent of governance.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x69CF...CdC231 | 187,840 | Create gmAVAX+ on Avalanche, Create gmBTC+ on Avalanche, Create gmETH+ on Avalanche |
 0x6137...6d3033 | 75,872 | Create gmAVAX+ on Avalanche, Create gmBTC+ on Avalanche, Create gmETH+ on Avalanche |
 0x9965...6Fd279 | 42,795 | Create gmETH+ on Avalanche, Create gmAVAX+ on Avalanche, Create gmBTC+ on Avalanche |
 0x761F...189Eed | 24,499 | Create gmAVAX+ on Avalanche, Create gmBTC+ on Avalanche, Create gmETH+ on Avalanche |
 0x0953...86AfA3 | 19,669 | Create gmAVAX+ on Avalanche, Create gmBTC+ on Avalanche, Create gmETH+ on Avalanche |
VOTE POWER
Proposal Status
- Tue May 21 2024, 11:38 amVoting Period Starts
- Mon May 27 2024, 12:00 amEnd Voting Period
Current Results
1-Create gmAVAX+ on Avalanche
492,932.623
2-Create gmBTC+ on Avalanche
476,324.982
3-Create gmETH+ on Avalanche
476,205.047