Single Token Markets - Avalanche GMX V2

Proposed the enabling of single token markets on GMX V2 Avalanche. The successful launch of ETH and BTC markets on Arbitrum has shown strong demand for a yield generating proxy of these single assets. Propose to extend the recommendation provided for Arbitrum markets (BTC & ETH) to Avalanche while also adding support for gmAVAX+ (AVAX-AVAX).

In addition to the completed risk review, contributors have also had discussions with key partners on Avalanche to support the growth of a potential gmAVAX+ market, with lending markets and CDPs indicating support and Ava Labs supportive of directing Rush incentives towards the growth of this market.

Token Address: 0xfc5a1a6eb076a2c7ad06ed22c90d7e710e35ad0a (Arbitrum)

Listing Chain: Avalanche

Summary: AVAX is the is the native gas token of the Avalanche blockchain, the largest EVM Alt-L1.

MCAP: $14.2 billion

Daily Volume: $440 million

Coingecko Link: https://www.coingecko.com/en/coins/avalanche 1

as on May 17, 2024

Chaos Recommendations for AVAX single token market https://chaos-labs.notion.site/EXT-WAVAX-single-token-pool-recommendation-55e740df250945c4abc89d75af4f753d?pvs=4

Prior governance vote & discussion for BTC & ETH single token market https://snapshot.org/#/gmx.eth/proposal/0xc62340aa5c5e3993bb3b4cd8e0f391bcdc60319032431146fcfba8a7b65b8fdb

Voting Options Each of BTC, ETH, AVAX will have options to support their creation or decline their creation, the successful option for each will express the intent of governance.