GMX

Proposal for Action

Complete an OTC treasury swap between GMX and STFX treasuries of $100,000 worth of esGMX with the yield generated from esGMX supporting GMX related incentives and competitions on the STFX platform. The swap is being executed at a discount to their upcoming public sale.

Forum Discussion Please see the posted proposal and clarifications at https://gov.gmx.io/t/gmx-stfx-proposal/1020 and you can read more and participate in formulating GMX’s Ecosystem Partnership strategy at gov.gmx.io/t/partnerships/743

Key Considerations ⁃ esGMX will be staked and used towards Prize Pots for trading competitions on STFX GMX trading, community bounty programs to encourage strategy building & research and additional community developments ⁃ If approved the swap will be executed using the 30 day trailing average of GMX at the time this proposal passes and as a sign of goodwill from STFX a 30m FDV for them which reflects a material discount to their upcoming public sale. ⁃ STFX and GMX intend to hold the tokens received from the swap indefinitely and keep them in their treasury. ⁃ After 2 years, if there has been a material change in the tokenomics or intended utility of the tokens, that results in the protocols being unable to use them as had been intended. The protocols may mutually review and come to governance to seek equitable adjustments. ⁃ Swaps will be completed after completion of audits and STFX GMX vaults going lives