GMX

This governance vote is for determining the potential listing of new markets for ORDI, SATS & STX. These markets alongside the recent vote for listing of a tBTC market position GMX to handle a range of markets that actively traded within the Bitcoin community and expand efforts to grow our presence in BTCfi. All three markets have strong Perp volumes on CEXs, and strong followings.

ORDI, SATS & STX have completed testing and is available on Chainlink Data Streams’ new timestamp oracles. Chaos Labs has completed a review of the Oracle feeds and provided technical recommendations for initial listing parameters.

Governance Post and discussion on markets and listings with risk paramater recommendations: https://gov.gmx.io/t/new-asset-listings-ordi-sats-stx-zro/3762

Given the lack of availability of bridged versions of these assets it’s propose to list them as synethic markets. With a larger correlation to BTC than ETH and a desire to get more BTC centric traders, one option is to list these markets backed by WBTC-USDC instead of the more typical ETH-USDC.

Approval options below are for authorizing the listing of BTC-USDC backed markets, listing only ETH-USDC markets or don’t list.

The highest choice for each Asset will be implemented