Update esGMX Emissions

To continue incentivising liquidity while having a sustainable schedule, we propose the following emission schedule:

Starting from June 2022, esGMX emissions for GLP can be changed to be dynamic instead of fixed, the amount emitted would be to target a certain APR (ETH / AVAX + esGMX) for GLP. The target APR can be 35% for June 2022, and 25% starting from August 2022. From September 2022 to December 2022, we could either target an APR of 25% or 20%.

The above emissions for GLP from June 2022 to December 2022 would be the max emissions allowed.

The esGMX allocated for rewards distribution will be fully distributed towards the end of May 2022, to implement this emission schedule we propose to utilize 1 million esGMX from the floor price fund. The floor price fund was allocated 2 million GMX, around 50,000 GMX has been utilised so far through GMX bonds on Olympus.

start

May 4, 2022

9:47 AM

end

May 9, 2022

4:00 AM

Voting

off-chain

Voting type

single-choice

Voters

199

Votes

1,350,013

Final Votes

closed

Target 25% APR after Aug 2022

214.4K sbfGMX

15.88%

Target 20% APR after Aug 2022

1.1M sbfGMX

84.11%

Against this proposal

112 sbfGMX

0.01%

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Mon 00, 2024 00:00

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