GMX Passes Proposal to Enhance Buyback and Fees Distribution
CryptoNewsTerminal Staff08 Aug, 2024
GMX Passes Proposal to Enhance Buyback and Fees Distribution
Decentralized Derivatives Protocol Enhances Buyback and Fees Distribution Model GMX, a leading decentralized derivatives trading protocol, has announced the successful passage of a governance proposal that will revamp its buyback and income distribution model. The proposal aims to enhance the protocol's efficiency and rewards system. Under the new model, GMX will buy back GMX tokens and distribute them to stakers, replacing the previous method of buying back and distributing ETH. This shift is designed to align incentives within the GMX ecosystem and foster long-term growth. The implementation of the new model is pending, and GMX users are eagerly awaiting its arrival. The revised distribution mechanism is expected to provide increased value for GMX stakers and contribute to the overall sustainability of the protocol. Stay tuned for further updates as GMX prepares to implement these changes, which are poised to strengthen the protocol's position within the decentralized finance landscape.
