Summary
This proposal seeks to establish a GMX Listing Committee. The committee will evaluate and approve new asset listings on GMX protocols and ensure that only high-quality, relevant, and compliant assets are listed. This will not only foster trust but also play a crucial role in maintaining the integrity of our trading ecosystem while also ensuring oversight of a potentially more rapid listing process.
Motivation
The motivation behind forming a Listing Committee is to create a structured and transparent process for evaluating new asset listings. As GMX grows, it’s crucial to have focused resources rigourously evaluating and approving potential listings. This will help mitigate risks, ensure regulatory compliance, and maintain a high standard and diversity of assets available for trading. The committee will be vital in supporting GMX’s strategic growth and sustainability.
Rationale
A well-defined and transparent listing process is essential for the credibility and success of any trading platform. By establishing a Listing Committee, GMX can:
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Ensure Quality and Security: Evaluate assets based on technical soundness, market potential, and security, ensuring that only high-quality and secure assets are listed.
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Enhance Trust: Provide transparency in the listing process, thereby increasing user confidence and trust in GMX.
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Foster Ecosystem Growth: Attract quality projects and assets that align with GMX’s vision, driving growth and user engagement.
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Continuously Monitor and Optimize: Regularly evaluate supported assets to ensure they continue to meet GMX’s quality and security standards, and manage the de-listing process effectively so as to maintain a high standard for listed assets.
Specification:
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Committee Structure:
. The committee will comprise 3 members, including Labs members and external experts.
. Members should ideally have expertise in Perp Dexes, finance, security, or compliance.
. Each member of the committee will receive $1000 per month for the role, and are expected to dedicate at least 10 hours per week to the role.
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Evaluation Criteria:
. Technical Soundness: Review the asset’s smart contract code for security vulnerabilities and technical robustness.
. Market Potential: Assess the asset’s market demand, liquidity, and community support.
. Regulatory Compliance: Ensure the asset complies with relevant legal and regulatory requirements.
. Project Team: Evaluate the credibility and track record of the asset’s development team.
. Alignment with Platform Goals: Ensure the asset aligns with GMX’s strategic objectives and values.
. Suitability: Ensure the asset follows the Asset Listing Framework established by the Risk Manager / Security Committee (See Chaos Labs Report: https://gov.gmx.io/t/new-assets-listing-framework/3660)
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Process:
. Submission: Asset listing requests can be submitted directly by the asset’s project team and listing committee, or community members via the forum.
. Initial Review: The Listing Committee conducts a preliminary review to filter out clearly ineligible assets.
. Detailed Evaluation: Shortlisted assets undergo a thorough evaluation based on the criteria mentioned above.
. Decision: The committee votes on whether to approve, reject, or request additional information about the asset and then optimistically puts their decision up for implementation.
. Announcement: Approved assets are publicly announced and scheduled for listing.
Conclusion:
Establishing a Listing Committee will ensure a rigorous, transparent, swift and fair process for evaluating new asset listings on GMX. This initiative will enhance the platform’s credibility, attract high-quality projects, and maintain regulatory compliance. We aim to support the sustainable growth and success of GMX’s trading ecosystem by fostering trust and ensuring the fast listing of new assets with proper due diligence.
This post seek the community’s feedback and support to implement this proposal.
