Listing tBTC Backed BTC market
This governance vote is for determining the potential listing of markets for a BTC-USD market backed by tBTC
Following the proposal from Threshold network for the creation of a tBTC market on GMX V2 (https://gov.gmx.io/t/tbtc-tbtc/3559) and the subsequent community discussion a risk assessment for utilizing tBTC was done by Chaos Labs (https://gov.gmx.io/t/new-asset-listing-tbtc/3664)
Given the current limited liquidity of tBTC and lack of a datastreams feed for the asset, the proposed market is a tBTC only market for trading BTC. This is being proposed after successful function of the single token wBTC markets over the prior months, where O/i balance has been consistently achieved.
This ensures LPs are not exposed to undue arbitrage, while allowing GMX to onbaord tBTC as a potential collateral, along with traeers, market makers (delta neutral funding rate) who support Threshold and tBTC.
The proposal further dovetails with efforts to support a wider range of BTC backed assets, creating greater exposure for GMX to BTCfi and making access to our markets on Arbitrum easier.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x9965...6Fd279 | 16,549 | Create tBTC-tBTC (BTC-USD) |
 0xc3f9...831692 | 11,807 | Create tBTC-tBTC (BTC-USD) |
 0xE2Ca...1B7197 | 7,141 | Create tBTC-tBTC (BTC-USD) |
 0x0953...86AfA3 | 6,712 | Create tBTC-tBTC (BTC-USD) |
 0xBC5b...67306C | 5,978 | Create tBTC-tBTC (BTC-USD) |
VOTE POWER
Proposal Status
- Mon July 22 2024, 02:50 amVoting Period Starts
- Fri July 26 2024, 09:00 amEnd Voting Period
Current Results
1-Create tBTC-tBTC (BTC-USD)
83,004.779
2-Don't list tBTC market
5,897.336