GMX Governance Committee

Summary GMX received 8 million ARB tokens from the Arbitrum DAO in recognition of its contributions as builders and community members, and its pivotal role in growing DeFi on Arbitrum. To ensure the GMX DAO’s voice was heard on Arbitrum, a temporary delegation to Coinflipcanada was set up until the DAO established its own governance infrastructure. This proposal seeks to now establish that voice for GMX in matters related to governance beyond our own DAO.

Motivation The tokens were delegated to Coinflipcanada as a short-term solution, citing the passing of the STIP proposal and the establishment of a governance committee once GMX officially launches its on-chain DAO governance. (https://snapshot.org/#/gmx.eth/proposal/0xfa202e11656cee660fb926cd6f9205d6964b25a409c8686169a3a66b85f2a9e3)

Rationale Propose the establishment of a governance committee comprised of five individuals to formalise GMX’s governance structure.

The responsibilities of the GMX Governance Committee will include but are not limited to:

. Actively participating in governance discussions and voting on proposals by the Arbitrum DAO and other DAOs in which GMX has a voice and interest . Representing the interests and perspectives of the GMX community in governance deliberations. . Providing regular updates and reports to the GMX community on the outcomes of governance discussions and decisions. . Collaborating with other members of Arbitrum governance to promote the interests of the broader DeFi ecosystem.

Initial Setup In the following yearly elections, all five positions will be directly elected by the DAO. Additionally, there will be a non-voting observer seat from Labs to ensure coordination where necessary. This includes giving feedback to the committee on GMX's non-governance-related activities with the Arbitrum DAO, foundation, and other external DAOs.

Compensation Members of the Governance committee would receive an honorarium for their roles. The proposed honorarium is $1000 per month. Nominees from labs are waiving receipt of the honorarium as they are already indirectly compensated and aligned with the GMX DAO through contributor agreements.