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.

start

July 22, 2024

2:50 AM

end

July 26, 2024

9:00 AM

Voting

off-chain

Voting type

approval

Voters

553

Votes

88,902

Final Votes

closed

Create tBTC-tBTC (BTC-USD)

83K sbfGMX

93.37%

Don't list tBTC market

5.9K sbfGMX

6.63%

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

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Starts in

100,000

Voters

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Votes

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Votes

Choice label

TICKER

100%

Choice label

TICKER

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Choice label

TICKER

100%