GMX Competition Prize Pool

To expand the user base of GMX and onboard more users, we propose to host a trading competition based on these competition rules: https://gist.github.com/xvi10/384e15b182906d3baa16733098abebd1

The prize pool is worth a total of 250,000 USD.

There are a few options to fund the trading competition:

Have the prizes be in GMX, the amount of GMX will be calculated based on the price of GMX at the time of the prize distribution
Have the prizes be in USDC, borrowing from the Floor Price Fund and sell GMX bonds to repay the Floor Price Fund later on
Have the prizes be in USDC by selling GMX from the marketing fund to the Uniswap liquidity pool

For (1), it will probably be safer to set a minimum reference GMX price that will be used, e.g. $30, so in the unlikely event that the price of GMX decreases because of the trading competition or otherwise, the amount of GMX distributed for prizes will be capped.

Voting power is based on staked GMX, staked esGMX and staked Multiplier Points, each staked token contributes to 1 voting power.

For simplicity, staked tokens that are reserved for vesting are not counted towards voting power for this proposal but can be included for future proposals.

You can spread your voting points across multiple options.

start

November 2, 2021

4:00 AM

end

November 3, 2021

4:00 AM

Voting

off-chain

Voting type

quadratic

Voters

116

Votes

877,762

Final Votes

closed

Prize Pool in GMX

3.1K GMX Snapshot 1

0.36%

Borrow from the Floor Price Fund

844.1K GMX Snapshot 1

96.17%

Sell GMX from the Marketing Fund

30.5K GMX Snapshot 1

3.48%

item label

Placeholder title of a dao proposal

DAO name

0x000000000000

Mon 00, 2024 00:00

About Voters Analytics

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Voting

100,000

Voting type

100,000

Starts in

100,000

Voters

1,000,000

Votes

1,000,000

Votes

Choice label

TICKER

100%

Choice label

TICKER

100%

Choice label

TICKER

100%